Often individuals are appointed as the Trustee of a trusted friend or family member’s family Trust. Should, for example, the Trust’s founder pass away and the surviving spouse or the founder’s children wish to sell the Trust assets and dissolve the Trust, may the Trustee be in a position legally to acquire any of this […]
Registration and Administration of Trusts
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Wills, Trusts and Estates: The Importance of reviewing a trust
Despite the skepticism with which they are viewed by SARS and the ever-tightening regulatory environment, trusts remain invaluable tools in estate planning. Especially if they are setup to serve a well-planned and predefined purpose. Another misconception, is that once you have setup a trust no amendment is ever needed in future, or that the […]
Registering a Non-Profit Organisation in South Africa
The process of registering as a Non-Profit Organisation (“NPO”) can prove challenging. The purpose of this article is to create awareness regarding the frustrations and challenges faced when registering a Non-Profit Organisation in South Africa. The most prevalent challenges are the slow turnaround time and applications being misplaced or even lost. There are however, I […]
The general duties and obligations of trustees
The governance of a Trust is completely in the hands of its Trustees and all assets, liabilities, rights and duties of the Trust reside in them. Consequently, an appointment as a Trustee is a position that comes with a substantial amount of responsibility and, therefore, it is an appointment not to be taken lightly. The […]
The removal of a trustee
What options are available if a trustee does not execute his mandate in the best interest of the beneficiaries as set out above, but is unwilling to resign as a trustee? Trusts are regulated by the Trust Property Control Act 57 of 1988 (“the Act”). In simple terms, a trust arrangement always involves three parties, […]
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Service of a letter of demand, does it interrupt prescription?
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Service of a letter of demand, does it interrupt prescription?
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