How can SME Business Owners Benefit from Trust and Estate Planning
John is the founder of a successful start-up, which he spent his entire life developing. His business drew the support of a number of investors, who became minority shareholders in his private limited company. Unfortunately, John fell ill and passed on, leaving his widow Jane as the administrator of his estate and assets.
ProviTrust- The Holistic Approach in Estate Planning
For many Estate and Succession Practitioners (ESPs), the holistic approach in estate planning involves them identifying suitable estate distribution objectives for clients. This includes the proper understanding of each client’s unique family circumstances. A properly drafted Will and Testamentary Trust ensures the estate of the deceased will be distributed according to his/ her wishes. This helps to achieve desired objectives for their beneficiaries, through staggered distributions or a later vesting age. It potentially mitigates issues that may arise; such as where the beneficiary is an aged spouse, a minor child, a spendthrift individual, a mentally incapacitated parent, or one facing creditors’ claims.
