Trusts for polygamous marriages

Trusts for polygamous marriages

This week, I came across an unusual reason for forming a trust.

The problem my client was faced with:

My visitor was the second wife in a polygamous marriage. It appeared that the husband wanted to treat both of his wives equally during his lifetime and upon his death.

Accordingly, he had purchased some residential units for the second wife (and presumably made similar donations to his first wife). Even if the two donations were equal now, they would not be equal in value at the time of his death and thus there was the possiblity of a dispute between the surviving wives

The solution proposed by Harbour & Associates:

So a sensible approach was for the wives to form a trust each and for the properties to be held within the trust structures. Because of the sensitivity and complexity of this matter, it is always advisable to opt for professional advice and help. Harbour & Associates have been dealing with complicated financial matters like this for decades. Our CEO, Derek Springett, has ample qualifications and experience and is ready to assist you with your financial wealth planning.

Get your estate planning in order:

Harbour & Associates offer new and shelf trusts for sale online. To purchase your trust today and start getting your estate planning on track, please visit our online store now by following this link - http://www.harbourassociatesstore.co.za/shop-online/Trusts-and-wills/index.html

Prefer to talk to a professional?

If you would like to discuss the best way forward with Derek before proceeding, you can contact him via any of the following channels:

  • Email: This email address is being protected from spambots. You need JavaScript enabled to view it. 
  • Phone: 011 805 0030
  • After Hours: 082 692 129
  • Book a meeting online: https://harbourassociates.youcanbook.me/index.jsp


Click here
 to buy a company from us, click here to buy a Trust from us or click here to get absolutely FREE, ONGOING business and Trust coaching, and tax advice from our CEO, Derek Springett Pr(Eng); CA(SA); Registered Auditor.

Memberships

South African Institute of Chartered Accountants. Designation CA(SA)  Internationally Accredited Financial MediatorsIndependent Regulatory Board for Auditors. Designation RA<Engineering Council of South Africa. Designation Pr(Eng) Member of MENSA, the High IQ Society

 

 

 

Find Us Here

Address: 1st floor, Gallagher School Building, 537 Lupton Drive, Midrand, Gauteng