ESTATEPLANNINGPreserve your legacy

WHAT IS AN ESTATE PLAN?

Estate planning is the safeguarding of an individual’s legacy. It involves the preparation for how your legacy will be protected, preserved and passed on to those you love.

Estate planning also include planning for what happens in periods of incapacitation. Whether through powers of attorney or a lifetime trust, planning ahead for a time when you will not be able to take care of your affairs (temporarily or for the long-term) will help protect you and your family from predators as well as preserve your financial stability. In addition, it can help to smooth the way for yourself and your loved-ones during a challenging time in life.

It is a good time to start or revisit your estate plans if:

There are several alternative instruments for Estate Planning, however in some, the property

will be subject to enhanced taxes, and the terms can easily be contested in a process known as probate - a legal process in which a will is reviewed to determine whether it is valid and

authentic.

Not all property may be subject to probate, but the property that is subjected to probate can

possibly go through a stressful, time-consuming and expensive process.

One could have various reasons for planning an estate, such as preserving family wealth,

providing for surviving spouse and children, funding children and/or grandchildren’s education,

or leaving their legacy behind to a charitable cause.

“Put not your trust in money (wealth), but put your money (wealth) in trust”– Oliver Wendell Holmes

• You have recently welcomed children or grandchildren.

• You have or are planning to get married, divorced or remarried.

• You want to provide for loved ones with special needs.

• You have a significant business interest you need to be protected.

• You want to control how your assets are distributed after your death.

• You want to maximize and protect the value of your estate.

• You have received an inheritance.

• The death of a loved one is imminent.

• You want to change your designated helpers regarding your finances, health care,

children or trust.

“It’s not how much money you make, but how much money you keep, how

much of it works for you, and how many generations you keep it for”

Robert Kiyosaki

Protect Your Assets

A key component of estate planning involves protecting your assets for heirs and your

charitable legacy, by minimizing expenses and covering estate taxes while still meeting your

goals. If necessary, your estate plan would include specific strategies for transferring or

disposing of unique assets like a family-owned business, real estate or investment property, or

stock in a closely held business.

None of the other estate planning tools leaves the grantor with as much protection and control

over his/her assets, and ensure the property continue being useful well after the principal

owners are gone, as a ‘Trust’:- The grantor assigns property rights over to the trust; Since

property is no longer owned by the person, it becomes exempt from probate.

Trusts are widely used and is a well-established way of protecting and enhancing a family’s

assets. They facilitate the safe and efficient passage of such assets to the chosen beneficiaries,

which typically includes future generations of the family.

What is a Trust?

A Trust can be compared to a safety deposit box that holds valuable items, for the benefit of

loved ones or courses.

The concept of a “trust” is fundamentally very simple: One person holds legal title to an asset

for another. For example; if I transfer title of the family farm to you, and say, “Hold this land for

the benefit of my family,” then a trust has been created.

Trusts aren’t useful only for ultra-high-net-worth individuals; anyone can usefully utilize trusts. Setting one up is not entirely out of financial reach.

Trusts are perfect for people who prefer to keep financial matters private – when estates pass

through probate, the last Will and Testament becomes a matter of public record; anyone who

wants to view the Will can obtain a copy from the probate court. When an estate is protected

within a trust, the Trust Deed and Rules is kept private and can only be viewed by the trustees,

the estate administrators and beneficiaries.

Furthermore, trusts are considerably more difficult to contest than Wills. This makes them a

good choice for people who are concerned about family disagreements over the inheritance

property.

THE ESTATE PLANNING PROCESSA primary goal for many estate plans is to protect and provide for loved ones and their future

needs.

Estate planning is most effective when approached as a comprehensive process: We at ITSL

enjoy working closely with other professionals to walk you through all the choices that you will

need to make in creating a plan that will best work for you and your loved ones.

We strongly believe in educating our clients about the alternatives and consequences of life

and estate planning; from simple wills, trusts and powers of attorney, to succession planning

and wealth transfer. This level of comprehensive detail ensures that the vision you have created

will have the desired outcome.

We have a team of highly experienced legal professionals that will guide you through all the

steps you will need to take in estate planning. Alternatively, should you so wish, we shall liaise

with your estate attorney to ensure a smooth planning and transfer process and guide you to

select the right type of trust to accomplish your overall goals.

We will help you properly consolidate your property titles, financial records, and take inventory

of assets being transferred to the trust.

Call us today, we will come to your convenient location to walk with you through your estate

planning process.

Appointment of Fiduciaries

To execute your estate plan, you must designate someone to act on your behalf if you are

unable to do so — as executor of your will, trustee for your assets, legal guardian for your

dependents and/or personal representative or power of attorney if you became incapacitated.

You need to be sure your fiduciaries are aware of and agree to their appointments, and that

they know where to find your original estate planning documents.

Fiduciaries can be family members, personal friends, or hired professionals such as bankers,

attorneys or corporate trustees.

Our representative can provide more information about trust services and considering ITSL

Trust Company Limited (ITSL) as your corporate trustee / co-trustee.

ITSL focuses on helping clients’ protect their assets throughout their lifetime and beyond.

ICEA LION Centre4th Floor - Riverside Park, Chiromo Road, Westlands

Post: P.O. Box 46143 - 00100 NairobiLand line: 254 020 2750000

Mobile: 0719 071999Email: itslcustomerservice@icealion.com

Web: www.ICEALION.com

About Us

ITSL is a wholly owned subsidiary of ICEA LION Life Assurance

Company Limited.

It has a rich history that began in 1984 when it was originally

set up to provide technical services in corporate trusteeship

and scheme administration to the mother Company.

Our Team

Our team is highly experienced with multidisciplinary

backgrounds in legal consulting, investments, retirement

benefits schemes management, and property management

consulting. This multidisciplinary approach ensures we provide

all the skills required to oversee the demands of Trusteeship.

Trusteeship is very much a people business, we believe that

professional trustees must be skilled, informed, experienced,

qualified and knowledgeable; we are keen on our ability to

communicate – and above all – to listen.

Key Representatives:

Jane Juma: 020 2750310 / 0719 071310 / 0710 732381

Peter Wachira: 020 2750305 / 0719071305 / Cell - 0724 842480

Olga Omalla: 020 2750462/0719071462

Diana Nyakio: 0719071789