*Do Not Write A Will, Register A Living Trust – A Guide for Investment Clubs In Zambia To Prepare for Estate Planning *

 

 

*#*  Wills are a horrible idea.

 

*#*  Probate can be used by jealous relatives and irresponsible children to take and misuse your life’s sweat, and disinherit your loved ones.

 

*#*  Trusts operate beyond culture, marriage, issues, and religion, hence, you can provide for everyone, including issues (children) got out of marriage, or before marriage (for single mothers who marry late).

 

*#*  Wills, because of probate, are very expensive.

 

*#* Wills can be contested by beneficiaries and unknown third parties. Living Trust cannot be contested.

 

*#*  Wills cannot be used to incentives behavior. With a trust, you can give a bodaboda, scooter, or tuktuk for all children who graduate from university; give a house to all who start their business; match investment of those dependanst who open a stock account; land title to all who do a church wedding, etc.

 

*#*  It is cheaper to register a trust. In Africa, it costs KES. 40,000 to register a living trust with Africa Registration Services Bureau; and a further KES. 80,000 to register the said trust with ministry of lands when you Joint Venture it with land. It costs 5 times more to register a company, and ten times more to write will (legal fees)

 

*#*   death taxes and inheritance gift taxes in wills and probate are very high. Trusts have pass through taxation. No tax on income. Online tax on distributions.

 

*#*   with a trust, you can determine who owns your wealth for the next 365 years. For 5 generations.

 

*#*   wills, during probate, bare all facts and information of assets ownership in joint venture with OneBoda.com for lease financing ofers. Trusts can be used to shield trustor, by appointing nominees, and even having trusts in trusts.

 

 

*twende.store, Creating jobs for youths in africa, one bodaboda at a time!*

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ZANAICA is promoted and hosted by Twende, an on-demand platform and Zambia’s first superapp, that also offers motorcycles (bodabodas) and tricycles (tuktuks), on lease to own, hire purchase model. Twende promotes investment clubs as an initiative to promote savings and investment culture in Zambia. To get free investment club training, do not hesitate to contact us on facebook at https://wa.me/+254103242604, or https://chat.whatsapp.com/HNosGG0OmdWHvXnFHVSLoh or email us at zanaica@twende.store or visit Twende offices at Manda Hill, Plot 271/C.