Trusts are generally out of reach for the man in the street on account of high costs. But Fairheads has developed a cost-effective, professionally administered umbrella trust to safeguard assets on behalf of beneficiaries. The advantages of the Fairheads Legacy Trust include:
- No need to register a trust deed
- Access to funds from day one
- No need to appoint trustees
- A simple process in place
- Transparency on costs
- Peace of mind that funds are safely invested with best of breed investment managers.
The Trust can accept assets from many sources including deceased estates, inter vivos trusts, testamentary bequests, Road Accident Fund (RAF) payouts, medical malpractice payments, life insurance payments, disability policies and retirement funds.
Fairheads recognizes the vital role played by the intermediary in winding up estates and setting up such trusts, and has structured a commission package which compensates them for the value they add.
Download the Fairheads Legacy Trust brochure here.
Case study – RAF payout successfully and safely managed
Sibusiso Dlamini, key accounts consultant in Fairheads' Durban office, received a call from a lawyer in Richards Bay. Both parents of two minor children had tragically passed away in a road accident and the lawyer, on behalf of the guardian, was looking for flexible vehicle to administer the RAF benefit of around R2 million.
Nothing in the market seemed suitable until he did an internet search and came across the Fairheads Legacy Trust. The guardian did not want the funds to be locked in, rather requiring a monthly income and occasional capital payments for the likes of school fees. She also wanted about 15% of the total to be kept aside in cash for immediate use.
The RAF payout was made in August 2018 and the sub-trust on the platform was set up swiftly. It is going well and the guardian is happy. We are pleased we were able to help ease such a painful scenario for the children.
