Build your legacy to last using a trust
For how many generations do you want to be remembered? Do you want to be like the guy on the left, or the guy on the right?
They both built the same wealth up until they died.
The guy on the left owned it in his own name and SARS took about a third of it when his spouse died. There wasn’t enough left to generate the passive income that he had promised his kids, so the capital soon got used up and he was quickly forgotten.
The guy on the right built the wealth in a trust and when he died, the trust didn’t die, so SARS got nothing! There had been enough investment income for him to retire and when he died, that same income was more than enough to keep his promises, so his trustees could keep building the capital base and the legacy survived through the generations. He was remembered!