Newsletter 2 (Nov 2016)Dear Colleague
Hard to believe that it is almost Christmas!
We would like to take this opportunity to wish you a blessed festive season and a happy new year!
As Tony Robbins said: “Once you have mastered time, you will understand how true it is that most people overestimate what they can accomplish in a year – and underestimate what they can achieve in a decade!”
This being the end of another year, look back and see what you have accomplished over this time. We hope it is an exhilarating surprise! If it is not but rather disappointing, well try again next year! As the saying goes: Today is the first day of the rest of your life!
Should you be so fortunate as to go away on a well deserved holiday, may you travel safely and come back next year with a new vigor and determination to reach your goals!
At the same time, please make sure that all your clients’ wills are in order and returned to Legatus Trust for safekeeping.
Kindly note that our offices will close at 13h00 on the 14th of December and reopen on the 9th of January 2017 at 08h00.
Happy holidays!
DO YOU KNOW WHAT THE BENEFITS OF TESTAMENTARY TRUSTS ARE?
Read more in the next edition.
In the previous edition we asked the question:
DID YOU KNOW THAT YOU CAN INCREASE YOUR INCOME BY MAKING USE OF LEGATUS’S SERVICES?
You can earn commission on an estate even when you have retired.
We will look at one case scenario, which is not the only one of its kind. One of our brokers retired. A couple of years after his retirement, he called to enquire about a substantial amount that was paid into his bank account by our company. This was commission paid on an estate of one of his late clients. The irony was that he wasn’t even aware that his client had passed away! Needless to stress how important it is to keep your contact details up to date, to cater for events like these!
It pays to have your clients Wills done by Legatus Trust!
IT IS ESSENTIAL THAT SPOUSES HAVE THEIR OWN BANK ACCOUNTS
It is of the utmost importance that each spouse has his/her own bank account and that there are sufficient funds to carry on should a spouse pass away. Also bear in mind that an inheritance has to be paid into an heir’s bank account and cannot be paid into the bank account of a third party. All bank accounts in the name of the deceased, including joint accounts, will be closed at the date of death and it will affect debit orders and all other banking services.
It is a good idea to take out a policy that pays partly to the spouse and partly to the estate, dually to keep liquidity in the estate and to ensure financial wellbeing for the surviving spouse. With all the heartache of losing a partner, at least the spouse can still carry on without the further burden of financial restraints while waiting for the estate to be finalized before any inheritance can be paid out.
Something to keep in mind when an heir emigrated or temporarily lives overseas: It is less complicated to pay an heir’s inheritance into a South African bank account. If there ís only an overseas bank account, it is a lengthier process.
Christina Blacklaws, deputy vice president of The Law Society of England and Wales, said: “It is important to remember that Wills are about so much more than money”.
That’s all for this year!
Until January 2017!
“The Legatus Times” Team
