Wills AND Trusts and Beneficiary Funds:

Your last will and testament is one of the most important documents you will ever sign during your lifetime. Your will is an essential part of estate planning as it stipulates how you want your assets dealt with upon your death.

• There is enough cash to pay outstanding debts.
• There is an income (and capital if required) for your dependants. The estate is distributed according to your wishes.
• Your business interests are protected.
• Taxes are minimised (e.g. estate duty and income tax).

BENEFICIARY FUNDS / EMPLOYEE BENEFIT TRUSTS

On the death of a member of a Pension or Provident Fund, the Trustees of the Paying Fund will meet to determine the legal and factual beneficiaries of the death benefit payout. Should any of these beneficiaries be minors i.e. under the age of 18 years of age or physically/mentally challenged majors, their portion would be paid into a registered Beneficiary Fund. Old Mutual Trust administers the Old Mutual Trust Beneficiary Fund on behalf of minor dependents until they reach the age of majority.