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{
    "id": 1105153,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1105153/?format=api",
    "text_counter": 331,
    "type": "speech",
    "speaker_name": "Kitui Rural, CCU",
    "speaker_title": "Hon. David Mboni",
    "speaker": {
        "id": 13388,
        "legal_name": "David Mwalika Mboni",
        "slug": "david-mwalika-mboni-2"
    },
    "content": " I am on. Thank you, Hon. Deputy Speaker, for giving me this opportunity to second this Bill. All of us have seen a situation whereby some families were very rich but when the head of the house passed on, those families are really suffering. It is because of mismanagement of the wealth which the head of the household created. Maybe, they do not even understand how to manage the businesses and such wealth. Therefore, this Bill tries to cure that. One reason to set up a trust is actually to protect wealth so that it can benefit the generations to come. One important proposal in this Bill is that one can create a trust and can also become a beneficiary of it. One can create a trust, transfer all assets and businesses to that trust, and also become a beneficiary. One advantage of this is that you can assess if your trustees can really manage your wealth. We have seen cases whereby families have gone to court because they feel that the trustees are mismanaging their assets and businesses. So, with those few remarks, I beg to second."
}