Living Trust Will & Probate Services Children Education Trust
Private Trusts are trusts made for the benefit of individuals. It is created for the financial benefit of one or more beneficiaries rather than for the public benefit. Estate Planning involves the structuring and management of the assets of client in anticipation of any event in the life time of a client.
An Estate is the totality of money, cars, houses properties shares and or other assets of a client. At PAC Trustees, we aid Individuals manage their assets through:
Wills is a testamentary document voluntarily made and executed according to law by a testator with sound disposing mind where he disposes of his property according to the Wills Law and gives other directives as he may deem fit.
A will is said to be testamentary because it speaks from death. In order no matter how pre-emptive a will is it only takes effect upon the death of the testator or the maker and the grant of probate. Probate is grant of authority issued by the High Court to executors mentioned in a will to carry out the instructions of the testator on the disposition of his estate.
PAC TRUSTEES as executors of the will and last testament of the deceased are very aware of the importance of honouring the last wishes of the deceased after the deceased is gone. PAC TRUSTEES also provides other probate services including the drafting of wills and obtaining of letters of administration for person who passed on intestate or had a residuary not specifically addressed in the will of the deceased.
A Living Trust is a legal arrangement properly documented which is prepared to manage the affairs of a living person during his life time and or his estate upon his demise or upon his inability to act in his best interests. A living trust could either be revocable or irrevocable. A living trust is one of the most flexible tools available and can be the foundation on which an individual’s financial and estate planning tools can be built. PAC TRUSTEES will prepare and faithfully carry out all the provisions of the living trust as captured in the trust deed.
The Children Education Trust is a trust for the furthering of educational pursuits for the children of the settlor or the child nominated. The trust starts with the deposit of a lump sum and regular contributions thereon for a minimum period of two years. The disbursements are made directly to the institution upon the presentation of the school bill.
OUR ROLE AS TRUSTEES INCLUDES
- Registering the collateral/Security in the name of the Trustees on behalf of the stakeholders
- Proper documentation of the trust relationship
- Co-ordinating, registering and monitoring obligations as stated in the Trust documents as well as managing the relationship among stakeholders
- Hold security on behalf of stakeholders
- Organise meetings of all the parties as and when due
- Act in mediatory/reconciliatory capacity in the event of conflicts