Here follows the story of the Potgieters as it was told to me.

Sandra Potgieter passed away at the age of 52. She and Johan, her husband, always thought she would live longer than Johan because she was 14 years younger than him.

About three years after Sandra passed away, Johan told me their story.

He said he attended my seminar sixteen years ago. He was very excited, and a month later, he attended again, bringing Sandra along as he wanted her to share in his excitement. Right after the seminar, they made an appointment to consult with one of our Wealth Officers.

After the consultation, all that was left for them to do was to say “yes” to start their Wealth Mastery System journey, but instead, they wanted to “think about it” first – although there was nothing to think about. Johan attended two seminars and had a full consultation. He said he knew what he had to do!

From experience, I know that “think about it” is the first step to procrastination, and as Johan continued the conversation, I felt that this is where it would ultimately lead.

However, in Johan’s case, I was wrong.

His “think about it” meant he wanted to get a second opinion. Can you guess from whom?

His “old family friend”. His “broker”. His registered, authorised, certified Financial Advisor!

That is like asking a snake not to bite you. A snake will always be a snake, ultimately biting you. In this case, however, you’ll only discover the slow poisonous effects many years later … as in Johan’s case.

He told me that his Financial Advisor “advised” him to stay far away from Coert Coetzee and his Wealth Mastery System.

The advisor instead convinced him to take out another big insurance policy on his life with Sandra as the beneficiary. The monthly premium on the new policy was three times higher than a bond repayment on a buy-to-let townhouse would’ve been in those days.

Now Sandra is dead. Both their estates are frozen because they were married in community of property. Their bank accounts are frozen.

The Financial Advisor is the executor of their frozen estate, meaning he has full power of attorney over all their assets.

All executors’ fees are regulated by a set tariff of 3.5%, excluding VAT, of the gross value of assets and 6%, excluding VAT, on all income received into the estate during the administration process.

The Advisor/Executor immediately took his minimum fee of R250,000 and is now busy selling all their assets, which include their fully paid personal residence. The reason for this problem is the fact that the executor needs cash to pay himself, other creditors and the following taxes and costs:

1. His Executor Fee of 4% on the gross value of the deceased estate and 6.7% on the gross income (this Executor charged a Minimum Fee of R250,000)

2. Estate duty of 25% on the nett value of the estate

3. Capital Gains Tax of 18%

4. Transfer Duties of more than 10% depending on the value of the properties.

5. Auctioneer Commission of 10%

6. The Value Loss on a Sale of Execution Auction is 50% on average.

In the end, the “family friend” will be richer, and the deceased estate will probably be declared insolvent by the time the richer “family friend” is done with it.

Your spouse and children will inherit NOTHING!

Back to Johan… He told me he was too old and sick to get a job. He is now totally dependent on his children and SASSA. His children can only afford to help him with a small bachelor flat above the cafe on the wrong side of town.

Johan contacted me, gave me the details and wanted to know what he could do.

Unfortunately, there is nothing he can do now!

If only Johan followed the advice of my SAIPA-regulated Wealth Officer 15 years ago!

CALL TO ACTION

If you want to avoid this HORROR problem, book your seat for our next seminar!

For detail click on this link:

Reserve Your Seat Now

 

Regards
Coert Coetzee
CEO of the Wealth Masters Club

P.S. The Wealth Mastery System of the WEALTH MASTERS CLUB is administered by the DESTINATA GROUP OF COMPANIES which are fully FSCA authorised Financial Service Providers. (FSP Numbers 48729 and 50349)