Hi Reader 👋

This week's edition of Law in a Coffeeshop is Sponsored by BKD AUDITORS. (More on them at the end.)

Lindo asked this question on my TikTok-channel:​

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There's a few principles that I always try to teach my kids that also holds true in answering this question:

1. We don't always need to have a winner. It doesn't have to be about which one is the best between the 2.
2. Not all questions are an either/or, it can be a both/and as well.

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TL;DR: Not every person needs a Trust, but every person needs a Will.

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Firstly, you can't compare a Will to a Trust as they serve 2 totally different areas.

• My opinion is that every single person should have a Will. A Will is the document that you sign wherein you lay out your wishes and plans regarding what needs to happen with your estate (all your assets, finances, cash, investments, debt, etc.) when you pass away. That is the only way you can control it.
• A Trust is a form of a vehicle, a type of a entity (not as formal as a company), that you can use to register property in (and a lot of other things). The Trust is then managed and run by the Trustees that you appoint for the benefit of the beneficiaries of the Trust.
• A Trust is a great vehicle, probably an absolute MUST, to incorporate into your will if you have minor children. Then, in the event that you and your wife dies simultaneously, your assets will be inherited by the Trust, managed by the Trustees, for the benefit of the kids.

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Secondly, it's not a question about which one is best.

• Every person should have a Will.
  • I've carefully curated a Series on Wills on my Website that you can use to understand your Will and how to draft your own one. It includes a free DO IT YOURSELF-Will that you can use. There's downloadables, examples, a whole video series and the Will you can use. Have a look here:

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• If you want to speak to me regarding your Will, you can book an online consultation here:

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• Not every person needs a Trust. Although, if you have minor kids, it is a must (in my opinion) to include in your Will.

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• Before you randomly start buying property in a Trust, it is best to first discuss it with a seasoned professional, like an attorney, auditor, or financial advisor.

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• If you would like me to assist you with your Trust, the planning regarding that, and the possible registration thereof, kindly book an online consultation here:

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I trust (no pun intended) that this has provided a little bit more clarity regarding the difference.

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Thanks for reading!

Have a great week!

~Francois ☕

Sponsored by BKD AUDITORS

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BKD Auditors is a multidisciplinary audit/accounting/tax/advisory firm. They seek to add value to their clients through building long-term relationships allowing them to design tailored solutions while giving them the peace of mind that their financial compliance needs are taken care of.

Use this link to contact them now: https://www.bkdo.co.za/​

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Click here to subscribe: https://francois-vorster.ck.page​

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