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Newsletter 24

Newsletter 24

Dear Colleague
It is hard to believe that we have almost reached the end of 2018! 
We would like to take this opportunity to thank you for your support and to wish you a joyous and peaceful festive season!  Should you be so fortunate to stay home for a while or go away on vacation, enjoy every moment and drive safely.  For those who must keep things going at work, may you also experience a peaceful and quieter time and maybe do some catching up on projects not finished yet.
Legatus Trust’s offices will close on Thursday, 13 December 2018, at 12h00 and re-open on Monday, 7 January 2019, at 08h00.
…..  Read more about this in the new year!

(Clientèle Life in association with Legatus Trust)

Also see → Blog → Estate Preservation Plan
The Clientèle Estate Preservation Plan is designed to assist in ensuring that your clients’ last wishes and legacy are realised. The Plan protects the financial interests of the estate’s beneficiaries from the costs associated with the winding up of an estate, as well as providing financial security during this often lengthy process.

  • A tailor-made solution to address individual winding up costs and liquidity constraints.
  • Ability to include various beneficiaries in one product.
  • A choice of commission streams that fits in with your own business model and needs.
  • Creates broader financial planning opportunities.
  • Guaranteed acceptance with NO medicals and the benefits of “Real Time” advice.
  • Simplified underwriting processes: No foreign travel or avocation loadings, access to a market first “Broker Interface Underwriting Engine” that provides immediate decisions. Or choose to go the traditional paper-application-way with an expert Tele Underwriting service.

Lifetime Will and Storage Benefit
Legatus Trust will assist with and validate the Last Will and Testament (Will) according to your clients’ wishes. A properly drafted Will ensures that, on your clients’ demise, the estate is distributed efficiently to the beneficiaries, it nominates Legatus Trust as executor, nominates guardians for the children (where applicable) and more. Our Lifetime Will Benefit aims to keep your clients’ Wills current and in line with their wishes at the time. This benefit also provides a facility which safely stores the Will and allows for it to be amended as and when life changing events require. Both the drafting and safe keeping of Wills are free services provided by Legatus Trust.

Executor Fee Benefit
Legatus Trust is responsible for the management and protection of assets, identifying and notifying beneficiaries, the payment of debts, the submission of income tax returns and finally the distribution of remaining assets to the beneficiaries. The costs associated with the services of Legatus Trust are regulated and our costs are covered under this benefit. 50% of this benefit is paid upfront on the appointment of Legatus Trust as executor and the remaining 50% when the estate is formally wound up.

Initial Expense Benefit
This benefit provides a cash lump sum, paid within 24 hours of receipt of the necessary documentation, to cover upfront costs when you clients pass away. The family can use this money to pay for funeral expenses or to pay for any additional costs that may arise.

Estate Shortfall Benefit
This benefit provides liquidity in the estate to assist with covering the costs associated with the winding up of the estate. This may include expenses such as advertising costs, conveyancing fees, rates and taxes, master’s fees, outstanding income tax, municipal rate and clearance certificates, debt due to creditors, credit cards, medical bills, etc. The executor is required to pay these costs out of the estate and without this benefit, assets may need to be sold or beneficiaries may be requested to fund these directly.


Monthly Expenses Benefit
This provides 12 monthly payments to the nominated beneficiary/ies. This can be used to pay for monthly living expenses and commitments whilst the estate is being wound up. This benefit is currently not taxable.

Enhanced Liquidity Benefit
The Enhanced Liquidity Benefit is a lump sum that is paid to the estate. This benefit provides additional liquidity to assist with other expenses or liabilities such as the setting up of testamentary trusts (if applicable), additional unsecured debt and any other costs previously not catered for.

TWO PLANS: Classic and Flexi plans

There are two plans available – a Classic and a Flexi plan. Details on the plans can be accessed on our website,, under the Blog → Estate Preservation Plan → Brochure.

For more information on the Clientèle Estate Preservation Plan, please click on the link below, complete and submit the contact form. A representative of Clientèle Life will then contact you directly.
(With thanks to Clientèle Life.)

Solomon Warner was a pioneer who was born in the 1800’s.  An Arizona historian, Jim Turner, said that he was the first to sell American goods in Tucson.  When the Butterfield Stage came through, whatever was needed, had to be bought from Solomon Warner.  He passed away in 1899 and left behind a wooden “heirloom” trunk which was passed down through his line of descendants.  The trunk now belongs to his great-great-grandson, Jock Taylor.
Inside the trunk, probably amongst other things, was a brand-new pair of blue 44-37 Levi jeans which Warner probably thought pretty mundane at the time.  This Levi jeans is now thought to be the oldest unworn pair of jeans on the planet, 125-years old to be exact.  In 2017 Levi’s offered Jock $50,000 for the jeans.  Although a dealer in old jeans, Brit Eaton, confirmed that vintage jeans could be worth a small fortune, he doubted if Jock would get $100,000 for it, as it was too big.  He said that collectors normally like to wear their vintage jeans.  Jock, however, hanged onto his britches and sold the jeans for almost $100,000 in a private sale to an unknown buyer on 15 May 2018.

Until next time.
“The Legatus Times” Team

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