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Financial planning

Overview

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Why set up a trust

Pegging or freezing of asset values

  • Assets that have the potential to grow in value in the future, such as a fixed property or shares (dependent on market conditions), should possibly be transferred to a trust.
  • The assets transferred to the trust no longer form part of your personal assets and therefore any further increase in the value of those assets take place in the trust.
  • The estate duty that could possibly be payable when you pass away is likely to be less.

Limited financial skills of surviving spouse or dependants

  • A trust can be used to protect the interests of the surviving spouse with limited skill in financial matters.
  • This is particularly common where the one spouse is concerned that the surviving spouse may need professional assistance to preserve and protect the trust property.

Protection of minor children and people with disabilities

  • A trust can be used to protect the interest of minor children until they are old enough to handle their own financial affairs.
  • A trust is also an effective vehicle to protect the interest of someone who may not be able to manage their own affairs.

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Succession / continuity planning

A trust is not affected when the founder passes away and it therefore continues to operate as before. Allows for the smooth transfer of wealth from one generation to the next (or even multiple generations).

Insolvency of beneficiaries/claims by creditors

  • Most inter vivos trusts are discretionary, which means that the trustees have the power to choose which trust beneficiaries should receive benefits from the trust.
  • These assets are therefore protected from the claims of the trust beneficiaries' creditors.
  • The assets transferred into the trust by the founder, are also protected from the founder's creditors, and provided the founder was solvent at the time of settling assets into the trust.

Estates of spouse and or children

  • A trust can be used by the founder to assist his/her spouse and/or children in reducing their own estate duty.

Assets that cannot be divided

  • Certain assets such as agricultural land cannot be divided amongst beneficiaries. A trust is an ideal vehicle for this type of asset.

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Types of trusts

Testamentary trust

  • This type of trust is established in terms of a person's Will and comes into effect after the person has passed away. Often, the reason for creating such a trust evolves from the need to protect the ultimate beneficiaries who are often minor children.
  • The provisions of the trust are set out in the Will of the deceased, and for all intent and purposes, the trustee is legally obliged to enforce these provisions. The provisions will usually provide for the termination of the trust on fulfilment of a certain condition.

Inter vivos trust

  • This type of trust is established during the lifetime of a person and is created by means of a trust deed. The trust is usually funded by means of a loan or donation. In most cases, an inter vivos is used for estate planning purposes and for the protection of assets. The provisions of the trust are set out in the trust deed.
  • The trust is usually a discretionary trust which means that the beneficiaries are not entitled to any distributions from the trust, unless the trustees exercise their discretion and make distributions to the trust beneficiaries.

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Get in touch

To get in touch,

call us on 087 736 8941

email financial_advisory@fnb.co.za

or speak to a banker or a financial planner in a branch.

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Why Save

Why save for your child's education?

  • To give your child access to quality education to secure their future
  • To make provision for increased education costs
  • To avoid paying for your child's education with funds that could help increase your retirement savings

Things to consider

  • What does your budget allow?
  • Can you save/invest regularly, or do you have a once-off lump sum?
  • Do you understand the different solutions available to you?
  • What guidance do you need to choose the right savings and investments solution for you?
  • What kind of return are you looking for, and what level of risk are you willing to take on your capital investment?
  • How long do you want to save and invest for?

We will advise you on the most appropriate solutions to match your savings and investment objectives and time horizon.

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Long-term investing

Choosing the right schools for your child and giving them access to the best facilities, quality education and a well rounded experience is never easy.

Long-term investment solutions make it possible for you to achieve this goal and help you benefit from the effects of compounding returns.

Shares give you a view and independence to choose the stock exchange listed companies you would like to investment in, while funds are a consolidation of pre-selected actively managed shares.

Speak your financial planner to find the right solution for you.

Shares-based solutions

  • Tax-free Shares
  • Share Saver
  • Share Builder
  • Share Investor
  • Local Trader

Fund-based solutions

  • Investment Account
  • Endowment

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Offshore

Exposure to offshore investment allows you to diversify the risk that comes with a South African only investment portfolio and to take advantage of opportunities that are more attractive than those that are locally based.

Whether you are looking to save short term in foreign currency, access structured foreign-based investment funds for your long-term goals, or you want to trade on international equity markets, we have all the right international solution for you.

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Qualifying criteria

  1. Service is available to all potential and existing FNB clients.
  2. Have all relevant information about your financial affairs available.

Children's education

Helping your child grow

The cost of education rises sharply over the period of your child's tuition term. We can help you select the right savings and investment solutions to secure a brighter future for your child.

Why save

Are you able to save?

Why save for your child's education?

  • To give your child access to quality education to secure their future
  • To make provision for increased education costs

Short-term saving

Give your child a little extra

Get access to solutions that are quick and easy.

7 Day Notice

Minimum opening balance of R20 000

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32 Day Flexi Notice

Minimum opening balance of R5 000

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Fixed Deposit

Minimum opening balance of R10 000

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Long-term investing

Provide the best you can afford

Choosing the right schools for your child and giving them access to the best facilities, quality education and a well rounded experience is never easy.

Getting it made easy

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Qualifying criteria

Contact your financial advisor

First National Bank - a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider 1929/001225/06 (NCRCP20).