" The best time to plant a tree was 20 years ago , the second best time is now ." OLD CHINESE PROVERB
to carefully select an executor for your estate , someone who will carry out the wishes outlined in your will . If there ' s a conflict of interest or potential for mismanagement , this can lead to complications .
Asset Distribution and Debt : The process of settling an estate can involve the sale of assets to cover debts and liabilities . It ' s crucial to set up a structure to ensure as smooth transfer of your assets and liabilities , and if possible , plan for the payment of debts in a way that minimizes the impact on your loved ones .
Estate Costs : The costs associated with settling an estate , such as estate duty , capital gains tax , executor fees , and others , can indeed add up . This is why comprehensive estate planning , including strategies to minimize tax liabilities , can be beneficial .
The Solution -TTS Trust You can circumvent all death costs , such as estate duty , executor fees and VAT payable on assets acquired . This means that your spouse and children can inherit everything and not just the meagre remains of a deceased estate .
Working with a professional estate planning attorney can help ensure your will is properly executed . It ’ s important to note that only a living Treasury Trust Services Trust ( TTS Trust ) can take care of the living .
" The best time to plant a tree was 20 years ago , the second best time is now ." OLD CHINESE PROVERB
Property Investment the foundation of Wealth Mastery Property investment is one of the core investment vehicles that is used in the WMC . Believe it or not , there are challenges hindering wealth creation here in property investment in South Africa if it is not done correctly .
UBER is the largest taxi company in the world , even though they don ' t own any cars ! Airbnb is the biggest hotel company in the world , yet they don ' t own any properties . WMC , with its thousands of houses , can eventually become the largest buy-to-let residential property investment group in the world without owning any houses .
37 AUG / SEPT 2023 SA Real Estate Investor Magazine