Trusts have their pros and cons, the biggest pro is the saving on estate duties, a trust never dies, even when the individual does. The cons are they are very expensive to set up and should be done, pre the growth in assets. Offshore trusts are a good idea, if one has assets offshore and you have minor children. Trusts are expensive and mostly suited to high worth individuals. If you plan to emigrate, a number of countries outside SA ignore trusts and pierce the corporate veil.
For more information kindly contact Joanne Baynham at Joanne@sterlingwealth.co.za
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