Making your last will and testament is an important development in one’s life! Here you may discover the vital aspects of this hot bed for exploitation by the corrupt, and ensure that your heirs are not cheated!
Up front, if your will is with a bank, or large trust company, it is most likely to be in a very dangerous place! If the word “discretion”, or the words, “sole discretion” appear in your will, then certainly you need to be on your guard! These are not standard words in any last will and testament. These words are appropriate for inclusion IF your executor is undoubted. Provided they are competent, your heirs can be your executors and they may enjoy sole discretion, but STRANGERS working in a bank, or fiduciary company, whom you do not know, cannot automatically have testamentary trust! Despite this clear thinking, older people fall into this trap daily believing their bank is trustworthy.
TRUST remains the vital ingredient for executor or trusteeship.
The FIRST purpose in making a will is to appoint your executor as someone you fully trust to attend on your last wishes. The second purpose is to name your beneficiaries, and the third purpose is to reduce your wishes to writing. Provided your heirs are fully competent, there is no reason they cannot be appointed as executors. To nominate an executor or trustee is out of the question, as a nomination will result in the Master of the High Court appointing the nominee. This is the reigning law in South Africa, and it is more than likely to be the case elsewhere in the world.
If you are considering forming a trust to safeguard assets, or care for a disadvantaged person, WHOM you trust for this task remains the paramount crucial consideration.
“The Affidavit” published as a link under “Doctrine” appearing under “The Gospel” in the main menu on the page 20 Trust Fraud, is the true life story of a victim of trust fraud. It is offered to The Body of Christ for education and preventative measures to be put in place. It is also offered as the truth in the public interest for a public stand against white collar crime being committed in the banks, in the Master of the High Court’s Office, and in our Court rooms.
“The Affidavit” fully exposes the depth of corruption and thoroughly exposes the use of words in a last will and testament. It is highly recommended reading if you are at that stage of life where you need to make your last will and testament, or are considering the formation of a trust.
Lester Oliver Thomas Flock © 2020