Setting up a TRUST in South Africa (Step by Step)
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- Опубликовано: 5 июл 2024
- Setting up a TRUST in South Africa (Step by Step)
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I'm trying my best to cover the knitty gritty. It's not always easy, but I hope it helps 🏆
Never stop Louis one day we need to point future generations to you and say there's the oke we're grateful for knowing otherwise government would've taken half your inheritance
Appreciate this comment so much. Thanks for the support my friend 💪🏻
Thanx for your guidance, keep up the good work!
Can you provide the name of the company that you used to create your Trust please
Proper content hope the youth is taking notes✅
Thanks my friend appreciate the comment 🙏🏻🙌🏻
I’m 27 don’t know if that counts 😅
Giving away tips that you could normally only get from friends parents who are wealthy
Right !!
I listened to this video two times, and I can tell this man knows his story. I don't even understand business languages and also the meaning of what you were talking about, but I'm thankful there is someone here in ZAR helping youth before they throw themselves in financial and tax debts.
You have my respect. I tried to press Subscribe buttton but only find out I already Subscribed.
Thank you, sir.
Me and you right
Thanks so much for your positive feedback. I really appreciate it. Thanks for showing up and taking the time to learn. Thats why I make these videos. All the best my friend 🏆🏆
I asked for this in the previous video and it's here.wow that was super quick.thank you.
Thanks for watching my friend. Im glad I can help. 😁🙌🏻😎
My trust name will br: "Please dont audit me SARS Trust"
This is the best comment I've seen 🤣🤣😁😁
They are starting to go after trusts but a lot depends on the election results to see if the proposed changes come through regarding tax benefits.
Hi Louis,
I just wanted to express my gratitude for listening to your community and producing this highly requested video. You deserve many more subscribers. As an emerging property investor, this information is incredibly valuable to both me and my girlfriend. Thank you.
Thank you very much for your comment. I really appreciate it. Im glad I can help and cover necessary and important topics. Im here to give back. Thanks for supporting the channel 💪🏻
Hi Louis what company can I use to help me set up my trust any idea I'm located in Cape town
Great info as always. I think the perfect video to accompany this one would be a video on last will and testaments. Thank you Louis
Thanks for watching. I will consider making a video about this eventually 🙌🏻😁 thanks for the suggestion 🙏🏻
That’s actually a good idea. I’d be interested in that
Thank you bud! Appreciate your content!
Thanks for watching brother. Appreciate the support 🙏🏻
Great content, thank you Louis!
Appreciate the feedback, thanks for watching 💪🏻
Thanks my man. This is gold
Appreciate it my friend 🙌🏻🙌🏻😎
Many thanks Louis, your videos are always informative. 🤝
Appreciate the comment my friend 🙏🏻😎😁
Powerful information , thank you
Pleasure my friend 👊🏻 😎
Thank you . Much appreciated.
Pleasure my friend 🏆
Thanks Louis this was very informative
Thank you for watching 🙏🏻😎
Thank you so much for information shared Louis,🍻
Pleasure my friend 👊🏻 😎
The video I have been waiting for. Hope you well Mr Reynhardt
Thanks for showing up and supporting the channel 💪🏻 🙏🏻🙌🏻
Thank you for this information. Before today i knew zero about trusts. Subscribed!
Welcome to the channel. Glad you can learn here. All the best.
Thanks Louis. It sounds very complicated but once one has figured it out I'm sure ut gets easier
Absolutely, and that's why it makes sense to use a professional to guide you through the whole process.
This is brilliant!
Thank you very much 🙌🏻🙌🏻
Thank you very much, this is very informative and important. Sibonge
Thanks for watching. Appreciate the support 🙏🏻 🙌🏻
Thanks man appreciate this life changing information
Pleasure my friend 🏆 share it with people you know will benefit from the info
Thanks so much for this
Huge pleasure my friend 🏆🏆
Thanks Louis, just had a discussion about this very topic this morning.
Pleasure my friend. Glad it helps. Feel free to let me know if you have any questions 💪🏻💪🏻
Thanks will do.
Thanks!
Pleasure my friend 👊🏻 😎
Good job with this video. A problem I find very often is the fact that people use trusts as their alter ego and then once the corporate veil is pierced all the effort of setting it up is undone. So if I can add a tip… If you are a founder of a trust and are only a trustee it’s no longer your asset, it belongs to the beneficiaries
Thanks for sharing. 💪🏻💪🏻
Always coming through with that content 👌
Pleasure my friend 👊🏻 😎
Thank you again
Pleasure my friend 👊🏻 😎
Thank you so much for the content! Please explain in another video why you use a trust when purchasing property.
You can browse around inu my real estate playlist. There are many videos covering this topic. Feel free to comment on those videos if you still have questions
A man of his word 👊🏽
Offcourse 🙌🏻🙌🏻🏆🏆😁
I knew it was coming thanks
Pleasure my friend 👊🏻 😎
Very educative
Thanks my friend 👊🏻 😁
I watch all of your videos within a day of release. Very informative for an ordinary folk or those who are in the property profession. Keep up the good work
Thanks for showing and learning my friend. Well done. Appreciate the support 🙏🏻 🙌🏻
@@louisreynhardt you are welcome. Trust me as a Professional Land Surveyor and an aspiring real estate Practitioner, I find this very useful
We are really learning a lot from you man. Thank you so much for always delivering great content🙏🙏🙏🙏
Pleasure my friend. I'm glad you can learn. Thanks for supporting the channel 💪🏻 🙌🏻
@@louisreynhardtanytime Louis, you always deliver premium content I swear🤞👌👌👌
@thulilekubheka5923 🙏🏻🙏🏻🙏🏻🙏🏻
Thank u for the SA context
Huge pleasure 🙏🏻
Thank you for this. It's clear to me why you'd rather get help than do it yourself, the expenses in fuel, food & time to collect & file those requirements is worth the fees yho...
Absolutely, and when you doi it yourself the first time you are bound to make a mistake. Those mistake are very expensive. Especially when it comes to the deed drafting
Awesome content
Thanks for watching 🤙🏻🤙🏻🥇🥇
Thanks for making the trust video we asked for ! Listening to your audience and delivery cool interesting content. Btw - do you have a link to your excel numbers template for calculating puchases
Pleasure my friend. Thanks for supporting the channel. You can pop me an email at louisreynhardt@gmail.com 👊🏻
Amazing content
Thanks for watching 💪🏻
Your content is top tier
Appreciate this 🙏🏻 🙌🏻
Proper great content
Thanks for watching 💪🏻 🙏🏻
The video I always wanted
Glad this helps 🙏🏻 😎
I love your content
Thanks for watching 💪🏻 💪🏻😎
your a G, thanks
Thanks my friend 👊🏻
Good content 👌🏽
Thanks for your comment. Appreciate the support 🙏🏻
Love watching and learning from your channel...We made contact with Jaco Globbelaar he was on your show before to help us with our set up...Keep informing us.1💚✌🏾😇👑☀️🇿🇦
Thanks so much for watching. I'm glad Jaco could help you. You have the right people on your team. All the best 💪🏻
Wow, quite a lot of information. To me trust's mainly make sense if one has a lot of high value assets.
Absolutely, but it can also be a great way to grow your assets . Thanks for your comment.
The course was good but more of a high level view. Your sheet that you provide for analysing deals is probably the best take away as well as the section on trusts. Is it possible to release a YT video or update the course to delve deeper into the financial breakdown of fees/costs and how you are using it with a little more detail. Thanks Louis :-)
Thanks for your comment and the possitve feedback on the course. Glad you can learn. Ill look into a breakdown video in the future. Thanks for showing up . All the best 🏆 👍
Good staff my friend, we always get these overseas videos talking about trusts...but in our context in RSA...its been a blur to me until now.
I'm so glad to hear it helps. Thanks for supporting the channel 💪🏻 🙌🏻
Hi Louis. Do you have a video of how one attaches a trust to a company and what sort of company works best I.e CC or PTY?
Not at the moment. I will try to include this in a future video. Thanks for watching. All the best.
Hi Louis. Can you recommend any companies to assist with Trust Registration. Thank you.
Who can we use to set up a trust? if a property is in a trust I can never occupy it, right? when I buy a property in a trust can i as an individual get financing or does the trust loan it ? If so how does a trust borrow money ?
You can watch this video for some extra guidance : ruclips.net/video/J-mPjKYrs9M/видео.html
You can also use Prosperity enterprises for the trust setup. This is the Comoany I use. You can use my name as refference 💪🏻
Do you have a video on the benefits of trusts? I looked, but maybe I missed it.
Maybe you can start with this video ruclips.net/video/Ggym4H_CL7Y/видео.html
Great content!!! I have two video suggestions; Owning properties in a trust versus a company. And ; same video like this one just setting up a CC.
Setup a Company within a trust. He literally said it in this video. “Donations tax to the company and it’s an easy way to move money from your personal name into the trust.” If you do the math, he has a company in a trust. 5:07
@@Ethan-Marques got that part, what I mean is creating solely a trust and solely company. Not a combination.
Thanks for watching. I will look into these topics. Thanks for the suggestions 👊🏻💪🏻
Need to relisten to this and tie it up with the legal regulations and law
🙏🏻💪🏻💪🏻💪🏻
Hi, can you ''transfer'' the house you are currently paying for at the bank into the trust?
Yes, you can, but you will have to sell the property to the trust, so there will be transfer and registration cost involved.
Hi Louis, can you advise on a trust company? Also, saving for the next property, can you advise how best to save this Money. Want to buy the property cash in the next 3 to 4 years...
Absolutely, I use and recommend Prosperity Enterprises. You can google them and use my name as Reference.
It really depends on your income but generally if you can save a large amount, you can save it in acess bond or a moneymarket account.
Feel free to consider my property course ⬇️
To secure your spot, simply click payhip.com/LouisReynhardt and follow the easy registration process.
Any recommendations as to companies to use to set up a trust
I use and recommend Prosperity Enterprises. You can use my name as reference , feel free to reach out to them
Hi Louis,
Thanks for the great information. Is it possible to transfer ownership of a house into a trust if you’ve bought under your name?
Thanks for watching. Yes it is. You will have to sell it to your trust which will incur transfer and registration cost. Or there is something known as a section 43 asset for share transfer If you want to use a company
Thanks so much
Can you also make a video describing how a trust work? For example you are owning these properties and we all understand how that works. But what will change once the properties are no longer in your name? Or is it business as usual and nothing changes at all?
Thanks for the suggestion. Ill try to look into a video where I cover this.
You can still be a trustee of the trust meaning you have control of it but you dont own it in your own name
@louisreynhardt I once heard another trust expert saying that I can be the only person in a trust. Meaning I will be the founder as well as the only trustee. He said as long as I'm not also the beneficiary there is nothing wrong legally with me being the only member of the trust. Is it really so?
@ntsokolomemani3874 that is correct. You can also be the beneficiariy as long as the trust deed stipulates everything correctly
Can you please make a video on how to make a traveling agency
Thanks vut this is not reall part of my niche on the channel.
@@louisreynhardt l understand that thank you
Would you say it is advisable/required to be a trustee as the founder of the trust ?
Yes Absolute, specifically for property 🙌🏻
Hi, what would you say your net income and value of assets should be t for this to be worthwhile?
It's worthwhile starting with no assets. Remember you grow your assets with time. Imagine driving through town waiting for all the robots o be green. You will never get to your destination if you keep waiting.
Would you consider FNB's Trustee service(s) a good option?
I haven't used it before, so i can't comment on it. But I prefer using someone that invests in property themselves. At fnb, you might work with someone walking into an accounting position with no property, handling your property structures.
Hi Louis, what company/professional did you use to register your trust?
I use and recommend Prosperity Enterprises. You can use my name as reference 👊🏻😎
What is the ball park cost for setting up a trust? I’ve had law firms quote me 10k for a trust that will hold assets valued at less than R200k in value
what is the name of company you used
I use and recommend Prosperity Enterprises. You can use my name as reference
Is it legal to take another persons property without their knowledge or consenting into a family trust or property trust?
Not without the permission of the trustees. But its important to consult with a professional.
Hi Louis, can you provide us with the name of the company you used to setup you Trust
Absolutely, I use Prosperity Enterprises. Youo can just google them and use my name as Reference
Hi Louis. Wat sal jy sê is die top 5 boeke om te lees oor eiendom?
Great vraag, daar is nie veel oor eiendom nie maar ek sou se
RICH DAD POOR DAD
RICH DAD POOR DAD CASH FLOW QUADRANT
Enige of al brandon Turner se boeke van bigger pockets.
Boeke van Jason Lee.
@@louisreynhardt baie dankie Louis. Waardeer jou reply.
I have 3 trusts registered but have not used them for years are they still valid?
It will still be active, but remember you have to submit your taxes every year for the trusts and have financial statements. I would suggest reaching out to an accountant to find out what needs to happen.
So once the Trust is set up/up and running you will not have a say as to how the Trust is managed but it will be managed by the trustees? Am I getting this right?
Yes rhats correct, but you can be one of the trustees effectively controlling it but not owning the assets in your own name
Can you transfer a property you haven’t fully paid into a trust?
Yes absolutely, but It will have to be sold to the trust meaning there will be conveyancing cost involved.
Please share the company that help you set up your trust
I use and recommend Prosperity Enterprises. You can use my name as reference , they are very good at what they do 🏆
What are the actual financial figures needed? Let’s make an example of the company you used in this process?
Sorry, just rephrase your question again ? Thanks
Which company did you use brother
I use and recommend Prosperity Enterprises. You can use my name as reference 🙌🏻
@@louisreynhardt Alright thank you brother. I'll definitely use your name as a reference
Hoekom praat jy in lettergrepe? Is dit omdat jy van n screen af lees? Either way, bly n goeie video. net moeilik om te volg met die lettergrepe.
As die uitspreking jou pla gaan jy sukkel om my videos te kyk . Ek is Afrikaans 🤣
Lol ek weet, ek ook. Goeie Vids... Skop Gat!
@@louisreynhardt
Louis is in die kant (Afrikaans kant)
@nomsaledwaba8931 Haha Im very Afrikaans 🤣🤣
Which company did you use?
I use and recommend Prosperity Enterprises. You can use my name as reference
Just curious, how many bank accounts should we have?
You can still have your normal personal accounts, and you will have one for each entity. So if you have one trust ( property trust) you will need one account for that trust.
@@louisreynhardt Do You think that having 1 bank account is not safe? or is it fine for someone to have only 1 bank account?
Do you mean in your personal name ? Or in different entities. The bank accounts itself doesnt really matter, but the different entities are what gives you protection.
@@louisreynhardt I meant, is it smart to use just one bank account for saving money and spending money?
+1 subscriber
Welcome my friend 🙏🏻🙏🏻
How can i choose a professional who can help me set up a trust
I use and recommend Prosperity Enterprises. You can use my name as reference
Which company did you use to setup your trust?
I use Prosperity Enterprises. They manage all my stuff. You can contact them and use my name as reference.
@@louisreynhardt Baie dankie. I will check them out.
Why is it not smart to include your name or surname in the trust name?
It just makes your bussiness more anonymous which gives you some extra protection. You can include your personal details. I just choose not to. Hope it helps 💪🏻
Excuse me for going a little bit out of topic but are you married?
Yes I am married, why do you ask ?
@@louisreynhardt Pity, I know someone who's smitten :)
@magaqetyuwa 🤣🤣🤣
I use @The King's Chartered Accountants
💪🏻💪🏻