Unlocking eSignature Licitness for Business Associate Agreements in the UK

How to eSign a document: e-signature licitness for Business associate agreement in United Kingdom

thank you very much thank you that you here tonight for another delivery of pain steps the MoneyWatch course they take steps to financial freedom you know I've been I've been I've been thinking about life today many much you know and I as I say to you know that's one of the biggest thing is my life that I one of the biggest challenges was that the decision time you know coming out of this this it's a atmosphere of just being a spiritual priest and a pastor and whatever and taking responsibility in terms of money and and ask myself you know what is there in my life concerning money-wise what can I contribute what can I do you know because every person it's something we had to win the money thing in where to win the relationships in all of us it's another one of the other this might be at the moment you spend most of your time so I might be in the money world because you perceive any men salaries that might be but you know you need to work well there so that you can buy back your time so that you can move more time back to the family world where you can serve people where you can minister to people and help people whatever it might be whatever you might call it doesn't matter but eventually the end of the time we need to work for what we do in this life so that we can after the means that we can get involved with people because our last message is all about family and family legacy and we need money for a family legacy for what they will be doing we want to get involved with life doesn't end with what we do and what we work like that's not in two of the things in the world it begins with people it needs two things but it leads us back to people and to help people to become better equipped in their lives and that's way the real satisfaction in life is is that we we we come back to people in a sense we're a movie do we create the things but at the end of the day we might people's lives better we help them to live more successful in whatever way it is whatever you put on the market and is your business work or so so so it's a point where you actually in all these steps you must know that is this and this is certain but is the right word this is certain thing more than a thing there's a certain key in every one of these steps you know we look at the houses you know the Arctic's only houses but there's a key in houses in life it's an absolute key that can make you financially free that can unleash that to help you you have more money on your budget you know they say clean houses is a key in word wood is not just something we do because you know everyone is working now work was God's plan for man on earth and you need to find a key in work you know if you can't find the place where you enjoy your work you busy must you busy missing a key in your life as we've seen it was one of our chapters is to work you know you have everything and tonight we have heard this the financial freedom or the financial structuring you know financial structure cannot always make you money but financial structure can can help you preserve a lot of money it's also a key and you need to to conquer all of these keys and put it into a into a working thing that you can start to operate within all these Stinky's because all of these keys are much more than kitchen it's like a it's like a dimension in your life it's like something that's been given it's like in a moment and their capacity that's in you that you must release and you can function in the fullness of them I've seen many people work out I've seen many people have been a lot of money but I've seen most people not having the money made after many years when they finish working why because because we need to learn not how to how to make money but also how to preserve money and how to invest money and out money more but also how to create money eventually end of the day it's a beautiful but subscription in in in Genesis 2 verse 15 it says God said to Adam you must you must think and keep the garden you know think means you need to work the garden you need to get all that you know and decide with is what and so and so but you also need to take the garden in me you must look after what you have already achieved you see we are so used to working hard and working and working and we make money and we might be by stuff you know but 20 years like that we are the weight is that stuff you know if we lost it because we didn't ND we put it behind our backs in there and we saw people working working working but what about the things that you've required up to now your car your house your wife your children you know whatever there's lots of things that you've already acquired where you are they are they safely package of they someway somehow package that you do not not to lose it along the way because you need to you need to take also your life and manage your life in such a way that you're not only work for stuff and work it doesn't become the everything in your life we all start we that will be supposed to be something God has given us we love the work but we start out to work for money but you're not supposed to work for money for the rest of your life money's needs to start to work for you does that mean that you stopped working now I'm also still working now but I'm not on the wedding you know if there is a salad at the end of the month because I've conquered the money thing that salary is no longer the issue it's no longer you you can give you services for free you can ask money you can decide you know you you've got your time back you can decide what you to do tomorrow they want to go to wherever the water I can go there because there's nothing else ruling me and deciding for me and that is the nice place of freedom to reach but you need to make use of all these things to get to that dimension where you actually really experience that listen life is back in the Garden of Eden it's like life is so free you know XP Nancy that way it's not that life is for free you stop by on the outside but you know it's like it's like it's like a dimension of the Garden of Eden that opens up for you again that's supposed to be the normal in this life because Ghana said let the Kingdom of Heaven we all want to be naman but listen God said let the kingdom of women come to earth by privately to kingdom come earth I see he's at the moment in heaven you know people say oh we can just go to Haman but listen even supposed to be yellow and have the same quality or that we might need to call it we call this earth when we call that heaven but she's supposed to be the same quality of life and if it's not the same quality of life you know they English there's something wrong we need to do something about it because we not suppose we have only freedom one day in Hindman that was mine as the place where man is the king and with the experience and rule with his freedom with his authority and experience is freedom freedom is important it is the mind the song of your whole life is to be free three doesn't mean you can sleep till you win you know freedom means that you live the life that you want to live and that's in your heart that's a compelling force in your you need to live that life so so in this all proceeds we see that and financial freedom of financial structuring is also very important I love the thing about financials actually because it has done me very very well you know I'll be traveling around this country in many many towns around about Hunter towns ministering around and whatever and one of the most disturbing things was for me to hear these stories of people you know farming you know making lots of progress having seven-plus forms you know and then just one year is a total no no harvest in heaven and I lost everything I own everything possible unless can can it be that you were 20 years for seven farms you find it opening in one year it's gone there's nothing left and in you then youth in you then your children is responsible to look after you for the rest of your life how on earth can you end up there life is not supposed to work that way you know but I didn't have the answer of anything but I just myself but this is so long this is absolutely wrong which I mean how can the things that's find out you know you have to sort of someone in a safe place that no one can come and touch it because you're not supposed to be all the way open to to financial what is it crisis and and everything you can lose everything potentially we had to do something about it it's also interesting you know as I get to know more about money-wise and money that I discovered that most people lose the most money this way not on earth which when they die is when they go away from her the people that has really some some sort of money in their lives lost at least a third of the of the estate the day when they died but I never prepare for that they never think about it because they don't worry about it because I'm gonna be dead but listen you need to prepare everything in your life if you think generationally you need to think of your estate until the next second and third generation then you need to prepare your own estate then you need to prepare your death then you need to make provision for your own lives I mean that is one of one of the important things in life is that your life does not end when you die do you know that your life does not end when you don't see because of what are you talking about listen is many people it's still alive here I'm still reading books off and anna-marie you know what is that other guy at rich calling the deities of Africa what's his name you know he sees thing yes already did you know but everybody stop talking about him it's even he released himself a billion lanta what can I eat two four four studies and people and students and what I mean that God still alive on the older wiser because he impacted she sustained in such a sight that he will live on after his death and he has made provision that the money is dead whatever was his passion in this case if this passion was to to release a certain amount of money every year for students to study and this and this I mean it's tell you everyone is talking about him as if he's alive and yet this in the grind I'm good that's right you see many people are still alive but you see you need to you need to arrange and set up your life to be alive after you've died otherwise you won't be forgotten you need to live some legacy and package it in such a way that it can live on without you and finances is one of the biggest key in that legacy believe it or not we always said you now only want to live for the Lord I want to live this not beautiful that's the starting point of everything because something yes maybe people will remember you but you can don't forget about that money's got also the science part of this world it's not like you know we need to run away from it because you have the large that user if you need the money to love it you don't need to be you don't need to be what is the right word don't be ashamed or that be what is the right word you know that your life will maybe need 10 million rand to live your creation purpose listen God is not bankrupt you know this world is not a pure place if your life needs 10 million or three million 100 million that's not the issue I mean us you you were you were sanctioned and authorized to work the amount of money that you need from the day off from from before the foundation of the world I mean don't like okay you sure I'm not supposed to come so well will be you know whatever get other people listen I also got them the package that was set out and man like that on day nine they can have it it's just you need to government fetch it and let me because why God will not give you a mandate for something it is not provision for it and I don't mind what is the amount of money that is not the issue the issue is you know we ask in such a what is that the right word you know we which school - a post on you it yeah I'm gonna that you're going to see you and sorry that echo Keon TV equity listen up man get excused for your existence your existence was planned your existence is something to celebrate your existence is something that is year to make the world a different place you will need an X amount of money to do it you already issued by it from birth at least you know by God so forget about the issue don't forget about your issue of money get over your issue and get to the point where you are yeah but we are so battling this issue I don't have like this in this car is Drago's driving this car are you not I still stopped fighting the issue inferiority start flows starting Joey will you all stop celebrate your uniqueness and what you were given and don't make an excuse for it don't go in your fighter worthy then defend yourself just love who you are because that's what you're here for and God has sanctioned you you don't need to to defend yourself or anything left what you were sinful money is only the means to an end it is not the end and with might such an issue about a money thing that it is become the main thing that occupies us but in another day we might miss we will mine might be have the money but we're still battling but we left anything you know because it's not about the means it's about the in okay sorry some people are losing a lot of money along the route because of very different various different reasons because of lack of knowledge because we don't know what's going on we are not prepared for what what's happening but when we look at life we see that in the juridical system there's different entities that we can work with and I mean we cannot go into all these things tonight you can study it for yourself number one you are a personal entity your name then you buy car you put it on your name you buy a house you put it on your name you must understand that the attorney is not a children tickle entity you are the entity is just a guy that handles the paperwork for you you know we obviously the attorney you know you must be careful of the attorney listen attorney is nothing it's got nothing on his side exhibiting knows how the system is working you are the one the moment you signed up I pretend that authorizes that smites it valid it's not the attorney sign is your son again you must become confident of the fact that it is spelled in your signature which when you sign something in big things starts to happen so remember this can be put in your name you can have authority over it you can have it and not be an owner of it in your personal name although that's not always very secure because everything at Union knife can be stolen from your name the moment you do business you have your everything on your name is exposed to what whatever you're doing in the business then we have the sole proprietorship you said you know I start up a small business and I say I've got a pint houses so I've got my buggy and my ladder and the guard is working for me and we painting houses you know whatever then the people pay into my account personal account you do business basically on your name but the moment you do business on your name everything on your name is exposed to to risk because you can lose it you know the guy falls of the ladder is a great you haven't got any compensation for it maybe or whatever and then there's problems and everything on your name is separate so that's all true partnerships not along but you must just understand what you doing and what's there you know possibilities in all of this and what can happen and so forth the third thing is there is what we call a partnership it's me and you doing you know the stoppage might be too big for home for one person alone so we get another car we doing it together our first house we bought online very honest nine it's seen as a partnership therefore the house is registered on both of our names partnership is not a good thing in a marriage it can be it can be something good but we won't recommend it the partnership can go up to 20 people in the partnership one of the biggest problems in partnership is that the moment I get bankrupt then immediately she's also better in both of us go beyond that many everything that the other parties do have on day nine it's involved when one comes down all the other girls with him they just go and I learned a statistic if all of you give up stop your colors your arms and everything so you basically from my side I believe you don't ever come into a partnership then is this next one is a close cooperation and CC that's existent to Toyota you can open it any longer it's basically a entity waiting you can do small business it's supposed to be you can also register colors and different things in it even property and whatever cc's was closed since my 2011 but it is not already dug leaf iced out you can still buy cc's I think if it's available but it specifies it out slowly but surely the peel the people that's managing the CC is called the members it's called members okay that's the people that are responsible for it you can is interesting you can you can use as a CC can be a trustee main of a trust trustee on a task it's what they said deafened eyeful it is like a faceless iced tea you know it's not someone that's got a ID just for interesting site then you get private companies that's the thing that's ended I previously we only had companies you know but now we have small companies and big companies small companies of 20 million I think it's a small company at that however more than 20 million is a big company it is companies are very very regulated these lots of regulations and low and whatever it makes it a little bit of a challenge to work in a company especially if you are just doing small business you know might be staying away from company if it's you know doing really business that's making enough money or good money stay away from companies it can be very very difficult lots of rules and regulations around it that's not in a sense wrong but it becomes difficult for four people then we have we have been trust that we can talk we're going to talk about now trust started to reach in e'en England you know at the time of the of the Crusaders where the people had to go to war they put in a forms in trust to the government the government then formed on the farms in the Negev from the produce of the farm that gave to the beneficiaries that was the wife and the children on the farm then I got die-cut I would have beneficiaries of the harvest and all these things that way is coming from it's interesting that dust has got an English background from the English law our South African law comes from from the Roman side in the Roman soil we actually do not have trust that's a very interesting thing it's actually no official thing in our law of trust now because we are not from the mini-sub because but because it's so overall accepted it's like unofficially it's accepted in South Africa because a trust is actually earning a constitution or or a legal document that signs because you know you can you can you can grow up any legal document and sign it and it's legal because if it's within the framework so the trust is basically only a legal document it's very interesting that although the private of the company law is very strict very defined the very thick book about it at the bottom the trust law is very grave there's not much said about it because number one it is not some African law in its origin so it's a very gray area they are much more room to operate inside like that it's not that you can do just what you want but it is has been very much a gray area and it is actually a notice a contract you know what is this what is this octa what is your trust act you know what is their affection assignment okay then lastly something you just need to take notice of there is something like an NPO and nonprofit organization if you if you want to if you want to take up money in public you know and make use of it you need to register for nonprofit organization public benefit organization and then at the end of the day you can get the third question that's article I think I that is called article I can I that means that any company any person any person is can give 10% of their of the global of the total in percent of the eternal to do a registered operation like this if you can cite like that and then those people give them a tax certificate and then I can use that tax certificate on Dave's on the books as I cover with my English tonight it's an experience okay it's not directly with a cut-off reduced you know politician it is reckoned as a expense take the same it's a very good thing in our country that we really can recommend to people I mean what we actually do in life wise is also article 89 and it helps a lot because people are much more like invited to deposit and they give money to something wait I can get a benefit back and you know okay so this is basically that is very very it's not very let's say very deeply explained but you need to the very important thing is you need to ask yourself in your life you know what is my situation consent insecurity what type of acid do I need you know it's like transport do you need a lorry with a flat bet or do you need a wonderful old anchor you know the purpose of your life and the purpose you want to do the devil's work what type of entity you use and how you're going to use it of all you're going to use it what is your dress in a situation what is your foldability lots of people have got a five trust you know but why five that you can't even afford one money you know not that fine is wrong you can use it but you know you need to ask yourself done create expenses for yourself what is the size of your asset you know what is your accessibility are much controlled you want everything what is the situation around your family the support and the people did what issue estate planning what is your tech situation what is your you're planning for inheritance what is it what do you think about pension and savings and how do you think about the bank can you become you can become your own bank how do you think about community involvement all these things one thing you will find with wealth creators is now there are people that are very well informed concerning financial structuring because financial structuring is not making the money but is preserving the money are very very well because they know that most people lose most money because they do business on their own now our name and it suddenly one thing it's a problem like me you know someone dragged in to meet on the n1 all they thought you know is what I forgave him for everything ten eighty thousand rent of loss from my side to discover three months later that there that the bailiffs stopped at my house to come and fix everything everything I said for one day but because you you haven't paid the lawyer of the other guy it's the pike son lawyer he said no he said you must pay it and you never find it I see but I'm not responsible he said you are because he said sir yeah then I was responsible then all they went through the courts and nobody fooled me about it and so I said come and fix the car stop I said well at least that it's not the big accountant X 2,700 I mean at least it's not that the amount of money but can I take my title you know they did the kitchen it was around about four thousand apiece you go gates for sure two thousand seven hundred and then he said to me my friend you don't understand I'm coming to learn everything today everything we leave you with nothing it doesn't mind we sell the type of for 10 st. and that one for twenty same to get to two thousand seven hundred but we loved everything your then I realized now in winter and it was not because I created the trouble yen RM this sposta driving through the country and helping everyone you know forgiving that guy for taking eighty thousand Rand you know that's a direct amount of loss not to talk about you now health and all these things and I'm gonna shoot me for 2007 others ran and now they come and fetch everything in my house and I realize this if you need to get out of this it is not that people that are cutie that you know might be do stuff also it is the people that are vulnerable and haven't done anything around it so luckily I knew and advocate that I forgive me said no problem immediately might be cast against him so that canceled the the hosting and the and then is another court sitting that need to happen and whatever and a long story I found the gone and I might be confession over the phone and I told him you know I've got a recording of this and then he was up in arms you know I know why he did it I mean crazy a constable live why did you know I mean he was it was the wrong person I mean I could foresee me to an enormous lot of stuff but I forgive him I forgave him and yeah I was the Biggest Loser then I realize you need to look after your stuff you need to do something so we got to know the whole thing of you know we need to start up a task because Trust is number one all about security the moment that by life entered my house and everything was in the trust I just showed him listen all my furniture and cars you know assault unto the trust you will just take a copy walk out the door and say wonderful no problem and he won't go away because they was then there was nothing on my name because I the things that in your trust does not belong to you although I manage it it does not belong to you so let's look at what the Trust is all about the trust is a separate legal identity that a trust is a very nice thing to work with an average person you know like you and me that's living I'm not a large in habit we not might be doing big business and what imagine are we mainly running a family and looking after things and built a decent life for ourselves a trust is very good for us so you've got a separate legal entity a trust again that you need to write yourself a trust deed because that's a legal document the trustee tending then you thank you trustee to the master of the mind code it's a lot of forms you need to funny in the end I've registered a trust not on your name I just register a trust you get there you get that the trust beats and number then in my case it's close and Trust it's got a certain number and there we go so the first thing I think we might remind them inventory of all the furniture now everything in every shape every paid evening whatever we put them we put a decent price to it and we sit ugly in it up to this and then I said from now you write a resolution that me and Mari on we are the trustees we've decided to sell all this to the trust in the cup might be four hundred thousand but the trust doesn't me to pay it now why because we're sitting beside and we're sitting that sound we are websites it's very easy to have you know a decent conversation and to agree with each other because a lot of people are sitting on both sides so we're selling it because it doesn't need to pay me now I don't need the money we cannot have any agreement so coming the end of the year in the February I candlelight one hundred thousand and chic until night one hundred thousand so we do ninety two hundred thousand to the trust to tell them no longer always four hundred thousand only two hundred thousand end of the next year we gave him another 100 it's not money that move on of two accounts it's just the resolution and then suddenly you have actually done knighted all the furniture into the truck so all our furniture our current in the trust but even happen we can go as bank robbers whatever I cannot take my furniture it's in the dust it's legal it is 100 percent it is not that it's a scheme or anything so you can put your coloring the trust you supposed to have nothing on your name especially if you do business nowadays you must have nothing on your name because whatever person come and makes a court case against you and don't think it will not happen with you I thought whoever in the world will do such a thing to me there was some point that did it to you and it is not only for the security sake now that's the one number one reason is for security so what even you have is now on your name if there happens anything in your business you know in this enormous climb against your life and you in your person goes bankrupt you know all that stuff is secured no one is allowed to touch it not even the government will touch it because Trust is a very important thing you know it's interested that 1994 when the new government came into into rule they said we must examine the Signet that that white people are hiding they stopped in trust you know so they appointed Commission to look after this whole thing and for five years like that a came of the conclusion is what was the conclusion every person entering the Parliament or issues with the trust that was the conclusion so every person entering the government at the moment in the parliament are issued with the trust automatically why because all the people in the government have trust I mean a guy like Juma's got 36 trust I mean a guy like Julius Malema has got about taking trust or whatever I only have to trust why unfortunately unfortunately it's a good thing to living but unfortunately because it is a modern criteria people can can do much more unlegal illegal things also through the trust that I'm not saying but that doesn't matter the trust is still the best thing to do your family things in nowadays they still not something better these people are negative basically about the trust I always say to people if you want to get trouble in your life except Jesus Christ and open up a trust you will have trouble now government tell someone you open up at us in your workplace and you see what they will tell you they will tell you the most stories about the government is clamping down and this is the end of the world and I don't know why because this is an enormous amount of ignorance concerning trust I tell you my biggest problem with bookkeepers and these people is that they on average do not know what is a trust even see eyes and whatever they don't know they don't know what to tell you I can't tell you how many problems I think money-wise causes of see I said jumping up and separate this is not true see but what show means I could never could tell me watch the truth let us just felt it is not the right thing and see but listen show me on python while it is not too true it's not like you feel like that the problem your name i'm already excited about it i always joke i said you know i studied theology but I never told you you will never start it out to each side because that's two dicing and the meats like see is that like they studied this the most advanced studies in bookkeeping but they but they basically never study they study one chapter back to us they say to me I mean this is a very important thing it's enormously important arpanet various bookkeepers in my life and most of them said to me I've never done books about the trust see how do you know what's going on in a trust well they don't normally say we've never done it we know that we will have to find out because fancy starts these are lots of stuffs but not all people are used to what's going on therefore this lots of dispute about what is really the truth and what's happening you know people say but you not allowed to do the duck let's hire food from a trust you know see but one part my trust text document asking me how much food you've deducted you know if it's not acceptable I mean you know there's all these disputes because it's really it's a great alien it's a serious great area even under the professional people okay so there are different types of trust you can you can a big world it's a friend of mine that they think money-wise the first money-wise not 2008 he was so intrigued by this whole thing that you write a book about trust you can buy the book from me it's a very good book if you want to make a study of trust was 359 and his book is an e-book you know but it's a really great book all about trust every different trust all how you do it and what you do and you can even stop open up for your trust today if you want the trust is in Lebanon in San Julian very nice car guy with integrity so so there's all the different trust but by city all the Trust's are separated into two types of trust the trust that you open before you die and the trust that you open after you dollar whatever you want to open at us after you've died I don't know so just do it before you don't because because the biggest problem is that you lose money when you die because your whole estate goes through legal hands that no one has got any influence to and age where your money goes wrong so you never allow your your money to pass by the legal structures because the moment you put it in a trust and when you die what's even trust never dies because the trust never die but when it's on my name it needs to go through the legal process it needs to be you know that someone need to now take over my car take over the house of sell the house or whatever but all my houses are in a trust when I die nothing happens to nothing they just take 10,000 grand out of the trust they bury me in we go on they go that's it very simple but the moment everything is on your name you know it goes through then I see lots of expenses all this stuff need to be transferred I mean I had now put a check for for a house of 1.3 million it's nearly forty thousand Rand why do you want to pay forty thousand rent if you don't need to pay then it comes with the attorney in this executive fees of four percent and you know and then is the minister what is it it's typed text from the government of everything 20 percent over 3.5 million so you go on and on and on and on by just taking your money and taking your money so put it in a place where no one can thank you madam while you live put it in a trust put everything day the moment you die nothing happens except as I put you in the grave and everything is safe no one can touch it and I will can start to play games with the rest of the people that's to live yes they can sell it out of the trust or not you know it doesn't matter but the point is is different types of trust you can have a basic family trust you can have a business trust you can have a special trust for a child with special needs you can have this really enormous amount of types of trust that you can have these are very interesting thrusters will reach the night it in South Africa and that's called a Manhattan trust you can actually have a trust worth she's in it it's a beautiful thing I've got the trust like that with a friend of mine so we have the property some ID he wants to sell people seem to be shaves you know I just buy from in one resolution we buy money then it's not only 5050 6040 you know now I saw snow problems now nothing religious structures no attorneys no nothing news has come between us we just go on very easily you can trust us only vesting trusts you can trust at the opening stuff people trusted only holding stuff so it varies different strands alter the mind trust that you will mind might be used in your life is a basic family trust you really need to know all the other stuff it's a basic family trust that you can basically do everything in if you can't say it like that basic business basic housing basic everything you can put in there you can have a trust only for your ship you can have a trust only for your goal you can have a trust for your assets that's God what is it dip them you get acid touch put it off so you can go on but it becomes very complex and if you might be have 200 500 million you know you need a more defined trust structure but if you are still I mean if you have still 510 million you know start with one trust and working that one trust because you don't need another one stroke okay Trust is founded by white by by a founder in my case I am the founder of the trust and then this there are people that's managing the process calls trustees it's me and my wife and then you can get what we call and I think nowadays day it's not a law but I expect you basically to have an independent dusty someone with another surname that's that's sort of just looking that everything is fine you know that you don't but you don't manipulate your own trust and my what we call alter-ego it means that you you left your whole personal life through your trust remember the first thing about the trust is that everything that God in trust you if you put in a trust that's what it's all about there's nothing in your life that you really are everything is only for you only borrow it from God so that it's only entrusted to you by God to make use of it and to put it in something for the next generation so everything God has entrusted you if you put in a task you see and because it's not it's not mine it really it's the trust but you cannot let your personal life through the trust the trust must have a vision bigger than your personal life you cannot tell me it is a family trust and then you look out of the trust the family must let other the drugs the family must have a community something they you know that's that is I think is very important a transition for something bigger than you and even your family must go bigger it must it must it must help other people in the process to all of that this is a group of people in a trust it's called the beneficiaries it's like other people that can benefit from the trust they call it you know the cold and basic family trusts the call a discretion discretionary trust meaning that the trustees has got the discretion you can get money or assets out of the trust because it's not like you got a legal hold it might be some trust are written that the trustees of I'll be managing the other beneficiaries are the owners can write the trust like that but on average the beneficiaries are only got the privilege of getting something out of the trust being decided by the trustees but you get as I say different trust that you can move that the beneficiaries only manages that on the side it's already being decided that everything in the trust is built owned by the beneficiaries and so you can govern it becomes a bit more complicated it's been important in the second place Trust is very important in terms of an estate estate planning because if you haven't trust you need to have a will that is ing to the trust because if there's nothing on your name I mean what do you want to be newest item from your world then maybe it is just basic stuff day you know that might be when you die you know your children will be there the co audience and how it will work financially and so who is this they still place in in a world for them but much stuff is already killed for the moment it is in a trust because the trust document already defines what will be done what is the rule of what will be done with this stuff that's belonging to the trust not be belonging to you that's very important okay then you need at least a bookkeeper not a CI to do a trust that is much better than like having a company stofflet that become becomes a very very complicated answer okay the advantages of a trust is by city as we said number one it's all about security in Marwan and risk management from that day on everything of me is in a trust and whatever happens to me luckily F and s happen after death you know it is safe especially when you do business as most people sort of do business you know you know everything inside works or any day if things happen here you know in my might be my company I can't go to my trust and take the money out except when they can prove that I agree I moved the money from the company day to sort of throat all that stuff the second thing as I've already said you know planning get all the middlemen out of your life and it is the middleman that's taking the money and it's making the problems eventually okay there is a suppor that he said the toss is also a place where you can do work in your community ministry whatever you want to do you can have an NPO that's connected to your trust the most the most of the biggest what is the biggest tax loophole brackets is not a loophole it's a legal thing the biggest tax that bondage you have actually at the moment in South Africa if you can give me $10,000 on you you can save you hundreds of thousands is that you can move any amount of money from one trust to another trust if it's connected to each other without any tax implications it means that if this might be hundred million in my trust and all my children who have trust and my trust document reads that all my children adopted children and they trust our beneficiaries and I can move a million from discuss today trust from I trust it is an expense in the interest it's an income yes if they do not remember expanded them as income they are gonna buy Texan II is 45 percent people say trust 45 percent listen if you don't know how to spin something in a trust just get married and ask your wife to do it you know they always say Bill Gates wife didn't answer a budget she's got a dog let's do it she's got a dog she must spend some amount of money but the point who I want to my kitchen eyes I know people say but you gotta just paint with this it's true you can't just paint on anything it's true but there are legal ways how to do the thing is the funneling principle that you can file your children out of your trust profit you can find in a salary as an expense I mean you can pay each child seven thousand a month and you move you've got six children seven thousand times six if you watch 4149 you put it in a credit card you give you wipe the credit card and say look after the children and I mean just bring me all the button all the slips you know that's why I shall you do it it is in terms of for them their bookkeeping and whatever is different wise how you do it and so forth but the point is is that you live in the trust before text not after that I mean if the car is of my name I get a salary no mommy the salary right in my in my bank account tax is already taken off but the moment my car is in the trust and my properties is making a good amount of money then I first service my clothes and I put on new tires and I'll do all these things you know because it's the property of the trust and then we look if this any profit live now if there's nothing left then you might you might by 45% I mean because it's still nothing because you can you can deduct all these experiences before you need to determine what is the profit you can put the new carpets for downs you can find all the roofs you know you can go underneath so many ways at the end of the day now I must say you will get at a point if you've got under the that bulimia trust you will you will eventually pay tax I promise you it's impossible not to pay tax but listen for the average person that deals with 55 in million rand sort of you know that girl way you want to end up basically you know to retire and all these things the trust is a very beautiful thing and everything is there than the first place for everything and it's no longer on your budget that's the only way I could find my budget working move your expenses to the task and let the trust - doesn't that sound very good you know let another person fight for it because in the trust in my case these properties these people that's paying money mean and we buy all the expenses at the end of the day we paid the mind and the God and boy and whatever we buy because I need to look after the trust outages of my house meaning whatever is the responsibilities of the trust we can legally take off from the trust again we can talk a lot about talk a lot about that and not all people agree with me because you get two lines of people in terms of bookkeeping you get there the conservative line and then you get the more liberal line the more conservative line said okay they want to stick they don't allow any gray area I believe you can do books in a more let's say right in your workout without what I'm doing throat or whatever you know if you put on your tax account you've you know you've paid three million for food this year you know you three people and I come on man that's not sensible that's not the logic that's not that's not you know they will come after you why because you can't eat up three million rand of food you know you need to be what is the right word you know seems need to be ocean cannot just put in figure segments and start to you know to help initiative you need to be reasonable in all these things so but but they are they are different wise you know how to do this thing but I believe this much room in a trust for for for preserving more money if you can say it like that keeping more money in your assets amongst your assets than just I need me to into text you know this is lots of tax laws that is in our fiber but the point is the text man will never tell you about it I mean this it takes law I don't think we've mentioned it's called article 13 section and if you've ever read about it it's a property tax law meaning that if you buy five properties in a year from a new newly developed a strata whatever you can climb back sixty percent of the purchase price over 20 years from your tax that is incredible that's absolutely incredible it's a tax law for how many years but no one knows about it you can you can climb back sixty percent of five properties you buy in one year from the tax man is over a 20-year period but what's the problem you're gonna pay it off over a twenty year period so actually the property's only cost you forty percent of the poaching bra in the first place in the second place you can of might be put in ten instead and I gonna fight the whole amount if you bought the thing correctly you know ing to the one person principle so they are extremely good tax laws and the one thing I found that when I write an investigation about wealth creators and I ask them tell me who are the person that has helped you the most to become financially free I was shocked that all of them gave me the same answer the text man all of them we seem to mean is no better friend and there was an attachment didn't need to be worried and against x-men get rid of this aggressiveness towards the text person is you know you must come to a point that this different text laws but you know people will not always agree what I'm saying but in a certain sense if you become creative and you start become the captain of your ship in you start to get the right financial structures text becomes something that is something you decide what you want to bind it's something you decide about I didn't marry those guys buying a house you know where to buy ten percent the property tax to put it into a unit was a lot of money are you need I mean then we have to put down the extra eighty six thousand it's a lot of money and then the agent certainly say are you mad I mean what I'm putting on my eighty six thousand rank for the government United for only one reason from the day I have the decision how many tears I've got a Python and and I'm and I was it profited me all the way I might move money that what I fight that I to them to the government it's a lot of money eighty six hundred thousand per house at that stage but we made all the money all the way because it's a it's a structure that gives you something back that you can have in your hands and now you can do the thing and you must decide for yourself if you want to make use if it how do you want my use of it because no one is going to force you might you study is it's much more not complicated but it's much more to me than what we talked about tonight and get into the thing and get yourself a book and you know study a little bit the trusting you know and if you want to be in the trust it's really not that difficult it's really any average person you can understand but it is not something that we talk to you on school or on university and how to make use of these things to benefit you and how to structure in such a way that you can have the best view and that's why you know we can go on you know there's even better structures that even trust you know this they said what we call a a holding company structure most people are even paying even less us of mystics that's why I always talk about Apple and Google that's for paying deaths but all my paintings because they are structured like a golden company but all the people inside are paying there's lots of people because the creating work but I've got a hold instruction where you can move any amount of money between the lots of 100 companies they can move money directly for one company to another company so what I do I make a lot of money here in the search engine but then I start up the Google car which is now incoming then they just move all the prophets all the prophets and I create more jobs and remove all the property applying no tax it's true the peers and these people I don't think that by the text and it's not illegal they just got the right structure you can also have the structures if you want to you see it is just people that have said Iran and what the taxman will tell you if you willing to study and do some little bit of effort and put on for yourself some structure Allah reward you with some privileges but if you don't do it you find the average you paid by issue and that's it it's up to you it's your decision and I'm not here to fight people or not fight people or whatever not not cause all people are really honest in what they doing that's also true but study for yourself that you can know what is the honest way to go and how you want to do it and stay safe and live your life because that is what it's all about I've been saving so much money from source that I am absolutely a people and I'm not illegal in the process I'm not I'm not that person that City I am against tax you know I know text was actually something that started when they started their faith little fatal benzine so but but you know each year it's not gonna get away from me things are not gonna operate without tax I'm not negative daddy I'm just saying we might be paying too much tax but let's do something about but you don't need to buy always sum so much that okay you can donate money to the touch the other thousand per person you can do long-term investments in your trust you can make your touched your personal bank you can maybe use the pig see if our you can add it to your to your let's enter your Testament use of that you can make use of all the other things you must become clever how to utilize all these different organizations for your benefit at the end of the day you can you can you can actually at the bend of the day structure your stuff in such a way that your family can basically sustain out of the trust let out of the trust in a certain way you need to do the books of the trust for licit about the texting between trusts okay you can I've seen your shop your company you can have a company and then the shades can belong to the trust that is also one of the possibilities you can even buy evidence to your trust out of your company that's another way you can have property in your trust remember just if the property has got depth on it then it's an open door the bank is also there in your trust as long as you've got a bomb to me if you need to make sure that you can service that bomb otherwise the bank will coming and we'll bring them I walk into your trust me okay [Music] disadvantages but trust you know it's a bit more effort you need to study the things is extract ministration you need to manage it this the text in its rush is forty five percent but that's not you know letting up tonight you just must make sure that you make enough money for what you're doing days and you've got the P your hand how you want to split the money the capitalist capital growth ended in a company and in the trust is bigger yes but we must understand what is capital growth if you want to really do a properties never go to a trust please that's the biggest disadvantage of the trust the capital growth is basically 80% in a trust it means that we not bought the house for a million and I set it for 1.5 maybe I've done some profit of 300 thousand then I take 80% of the 300 thousand times the 45 percent tax bracket and that amount is added to your trust as an income in the trust this amount that you need to buy so it's not the directly eighty percent it sounds like death you know 80 percent - no no it's not like that in fact if we are end of the dying in a company you pay effectively 22.4% and in a trust in something like all of the of the profit amount it's like something like 33 or 34 percent in the trust and that's a lot of money but you see if in mind guys I've said to myself okay every property i buy i buy four generational wealth I'm not going to sell it maybe one maybe my children will sell it but listen to me if you are not happy to pay capital gains tax you eventually haven't even paid anything for the property so listen my piece with the government is here the government will always ask its piece and you know but I'm not I'm not going to sell it but in the meantime I make enough money out of it that if I had to buy have to pay the Una's a month that's part of life don't mind about it you know don't get the issue about the main thing of a wealth creator he must get over the issues in life just roll it out and get over it and go on in life and if if it's an action I wouldn't buy it and make enough money to buy it and go on because don't spit your energy on fighting the taxman there's no use in fighting the taxman the wealth greater are always more clever than the tax man in not that these other rise the tax man in the sense of fraud but you you can what is there enough your conscience dollars that plus them for my demeanors blossom for blossom this applies with you will you skip text that's not true what's not the right thing but it's a place where you can move your text responsibility to someone else and that's what people do they just become cleaner in life and they move their text someone else it's not that difficult I mean with the Birman the magnetar Fitzsimmons Argentina trust you know and you need to fight actually just move into your children that do not have an income I mean they'd I don't buy text so but it's still in the family so you just move it to someone move it to a baby just give it to a baby somewhere in the family then you just need to make sure you for children and babies and whatever yeah because if you have many children you know it's one of the wonderful things in the trust because there's lots of places where you can move your text responsibilities with people that's under the tax bracket and that of 7,000 a month so your folder can give you 7,000 a month profit but when he is moving is tax responsibility to you and you not paying tax you yummy help him to get the other day you can give it to you but in the meantime you pace your school feasible distraction I worked at 7,000 a month okay so this might be this maybe you need to find out you need to get some knowledge about all of this but to tell you the end of the day I remember when we've all turned up actress two people fall upon us see there's all these problems I mean really I can't tell you that hassles we had since we opened up a trust and it's because because of all the ignorance around it and yeah me what I've said tonight is just the basic outline it's not all the detail whatever we need to know the the practical things in the books and whatever so forth but it's easy it's not difficult stuff but people don't know it and I don't know what it is about the trust where people have sort of got issues about the trust and I always want to have a fight about the trust but in the last I think years what I do we have a trust now I can really say that trust was one of the biggest beautiful things that came into our lives it changed in our lives totally enormously it helped us I might say that trust safe - you know you can say because it it is what happened in the trust but the way that we could start to use all these and we could finance all the things around our lives that was happening that is that is really I love it and it is legal it is not illegal I'm not telling you to do things that's illegal so but also make sure that not everyone that will tell you something and have studied bookkeeping are always on the you know on the thing that what is really all the stuff all of them know what's going on so make sure our said to someone don't let any new people to your books if he doesn't have a trust himself the most probably will not know anything from someone that knows what is going on and do it and live your life and both relational wealth because that is one of the big things build something that can go over to your children and your children's children them and get out of the place where all these middle man's is just sucking money out of us and taking our money at so that we end up with less money okay thank you very much [Applause]