The science of blended families

The other kids and your exs

Blended families tend to happen in your 40s due to failed relationships and marrying again. There will be step kids and one has to deal with the other partner exs. Then there will be the other faceless kids

Estate planning

If you have faceless kids and ex spouse allowance discuss them with your legit family and make sure they are on your will including your mistress. If you pass on, your other kids and mistress will come to your funeral and after wie sien ons they will sue your estate to get part of your estate at an embarrassment of your ligit family if you havebeen secretive about it. All the other kids need to do is DNA test which may mean you will be resumed for the procedure. Your mistress only need to show photos together and proof that she was getting money from you monthly on a regular basis.

Death taxes

If you leave a Ferrari the Receiver of Revenue will check if you were tax compliant and if not they will impose some penalties and take money reserved for your kids. There are are two taxes related to your death

.estate duty tax

Is about 20 to 25 percent plus 2 to 4 percent of your estate to be paid to executor of your estate

.capital gains tax

This in a case whereyou dispose of an asset at a profit....there is capital gains tax for properies which are not your primary residence. Anything sold after and even before your death is subjected to Capital gains tax

How to minimize estate duty tax

.by retirement annuity is excluded from estate duty tax

.donate 100k p.a to your trust

.will and stipulate who inherit what and nominate an executor for the estate

.buy assets in a trust

.have insurance to take cate of death taxes

.avoid owing n owning anything in your name as these will add on your estate

Disclose people you are supporting financially on a regular as they will show up at your funetal

.your mistress

.your Ben 10

.your step kids

.other kids

.your exs

They will sue your estate and your legit family will be disadvantaged. It happening in my famil for past 9 years and my late brother estate is now bankrupt

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