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Testamentary Trust
Legal arrangement created by an individual
What is a Testamentary Trust?
A testamentary trust, established by a Last Will and Testament, activates upon the creator's death to manage and distribute assets as per their wishes. It ensures structured asset distribution, potentially offering tax advantages, creditor protection, and beneficiary asset management guidance. Unit trusts in South Africa are appealing for businesses aiming to expand capital, increase income, or diversify investments. They provide professional management, diversification, and liquidity, supporting businesses in meeting financial objectives and maintaining market competitiveness.
Benefits of a Testamentary Trust
Protection against Family disputes
A life insurance trust can help prevent family disputes by providing a clear plan for how the insurance proceeds will be distributed, and by appointing a neutral third-party trustee to manage the funds. This can help avoid potential conflicts among family members and provide greater peace of mind for the policyholder.
Employee Satisfaction
Life insurance trust assets are generally protected from creditors, which can provide added security for the beneficiaries.
Control and Flexibility
The trust allows the policyholder to dictate how the insurance proceeds are distributed, and the trustee can manage the funds for the benefit of the beneficiaries over time.
Privacy
Unlike a will, the terms of a life insurance trust are private and not a matter of public record, providing added privacy for the policyholder and their beneficiaries.
Benefits of Having an
Mont Blanc Financial Services (MBFS) Financial Advisor:
01
Comprehensive Approach:
MBFS advisors go beyond basic financial products. They take a holistic view of your situation, considering short-term insurance, employee benefits, risk management, and even investment options. This comprehensive approach ensures your financial plan addresses all your needs.
02
Technology & Innovation:
MBFS prides itself on being a "Fresh-Tech" ™ company. Your advisor will leverage modern tools and resources to deliver efficient service and provide you with up-to-date financial information.
03
Client-Centric Focus:
Rooted in their core value "We Care" ™ , MBFS advisors prioritise building strong relationships with our clients. They act as partners, understanding your unique goals and tailoring solutions to achieve them.
04
Peace of Mind & Security:
With MBFS's focus on "Getting You Claims Ready" ™ , our advisors can ensure you have the right insurance coverage in place. This proactive approach can give you peace of mind knowing you're protected financially in case of unforeseen events.
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