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Newsletter 2

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Newsletter 2
Dear Advisor
 
Another month has passed by or should we rather say, flown by.  As Anthony Robbins said:  “Once you have mastered time, you will understand how true it is that most people overestimate what they can accomplish in a year – and underestimates what they can achieve in a decade!
 
Each moment counts.  Make the most of it!

 
DO YOU KNOW WHAT THE BENEFITS OF TESTAMENTARY TRUSTS ARE?

Read more in the next edition.
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In the previous edition we asked the question: 
DID YOU KNOW THAT YOU CAN INCREASE YOUR INCOME BY MAKING USE OF EFBOE’S SERVICES?
 
You can earn commission on an estate even when you have retired.
 
We will look at one case scenario, which is not the only one of its kind.  One of our brokers retired.  A couple of years after his retirement, he called to enquire about a substantial amount that was paid into his bank account by our company.  This was commission paid on an estate of one of his late clients.  The irony was that he wasn’t even aware that his client had passed away!  Needless to stress how important it is to keep your contact details up to date, to cater for events like these!
 
It pays to have your clients wills done by EFBOE!
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IT IS ESSENTIAL THAT SPOUSES HAVE THEIR OWN BANK ACCOUNTS
 
It is of the utmost importance that each spouse has his/her own bank account and that there are sufficient funds to carry on should a spouse pass away.  Also bear in mind that an inheritance has to be paid into an heir’s bank account and cannot be paid into the bank account of a third party.  All bank accounts in the name of the deceased, including joint accounts, will be closed at the date of death and it will affect debit orders and all other banking services.
 
It is a good idea to take out a policy that pays partly to the spouse and partly to the estate, dually to keep liquidity in the estate and to ensure financial wellbeing for the surviving spouse.  With all the heartache of losing a partner, at least the spouse can still carry on without the further burden of financial restraints while waiting for the estate to be finalized before any inheritance can be paid out.
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Interesting fact:

Research shows that nearly one quarter (23%) of people think they will receive items of sentimental value such as photograph albums, letters and cooking recipes which have been passed down the generations.
 
Christina Blacklaws, deputy vice president of The Law Society of England and Wales, said:  “It is important to remember that wills are about so much more than money”.
 
Until next time.
The “Let’s Talk EFBOE Team
 
 
Contact persons in the relevant areas:
 
Johannesburg (incl. Bloemfontein):
Dawie Roux - dawiejhb@efboe.co.za
Cell No:  082 828 5261
 
Pretoria: 
Cecilia Steyn - ceciliapta@efboe.co.za
Cell No:  076 734 4988
 
Cape: 
Marie Eksteen - mariecpt@efboe.co.za
Cell No:  082 445 9549
 
Please feel free to contact them should you have any suggestions, requests or queries.
 

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