Registration and Administration of Trusts

One of our areas of speciality is the law governing trusts. Trusts are vital tools in estate planning, provided they are setup with proper purpose in mind. When setup with this in mind, a trust can form part of any strategy creating a legacy.

We can assist you in setting up either:

  • An inter vivos trust (a trust between the living or a group of people) for the benefit of selected beneficiaries (including BBBEE beneficiaries); or
  • A testamentary trust (stipulation/provision in a will) for the benefit of the testator’s heirs.

Managing a trust, ensuring it is relevant and compliant, or being an appointed trustee, can be quite a tedious process and strict requirements need to be adhered to.  We can guide you and/or your appointed trustees to ensure that they handle matters in terms of prevailing best practice.

Should you require a quote, please complete our quote form.

* Choosing the “right fit” attorney is an important matter! We fully appreciate this and therefore offer a reasonably priced and commitment free initial consultation (R900 VAT included per initial consultation), so you can ensure you have found the “right fit” before contracting legal work! Call us today!

For more information, feel free to browse related topics below.

Suggested reading and related topics:

 

tax

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 mis …

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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 mo …

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preferential procurement

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 responsibi …

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removal of trustee

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 …

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BBBEE Ownership Compliance: Employee Share Schemens – The Do’s and the Don’ts

Since the recent amendment of the Broad Based Black Economic Empowerment Act 53 of 2003 and its regulations, i.e. the Codes of Good Practice, (jointly referred to as the “BBBEE Act”), whereby complying with the ownership requirement of the BBBEE scorec …

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Tax consequences of Incentive Trusts…a real incentive, or not?

Over the past few months the DTI as issued various clarification notices regarding the nature and potential impacts broad-based schemes and employee share schemes would have on the BBBEE score of companies. In addition, the now compulsory ownership ele …

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Employee share schemes and compliance with BBBEE ownership

BBBEE (or Broad Based Black Economic Empowerment) is very topical, especially now with the upcoming compliance deadline in April 2015. BBBEE is a programme launched by Government to redress the inequalities of Apartheid, by giving certain previously di …

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Are Usufructs Still “Fashionable”?

A usufruct or the right to use and enjoy (together with enjoying the fruits) of the property involved, has for many years been commonly used in the estate planning process. In simple terms, a usufruct is a right of enjoyment, enabling a holder to deriv …

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Trusts as Shareholders and Buy and Sell Agreements

In a previous article the use of trusts in companies as valuable BBBEE planning strategies was highlighted; specifically from a compliance perspective. Using trusts as estate planning vehicles mainly to house shareholding has become an equally effectiv …

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Employee Share Schemes Where (INTER VIVOS) Trusts are Shareholders

In recent years (inter vivos) trusts have become a popular vehicle to use for purposes of employee share schemes to facilitate empowerment transactions within the private sector. Also, in many instances trusts are still valuable business continuity pla …

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When using trusts is the best solution

Trusts are well-known as vehicles to facilitate effective estate planning and continuity planning strategies. That said, setting up a trust − whether inter vivos (between the living) or testamentary (created in a will) − should be carefully considered …

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Trusts – a separation of power

The core idea of the trust is the separation of ownership (or control) from the enjoyment. Though a trustee can also be a beneficiary, the central notion is that the person entrusted with control exercises it on behalf of and in the interests of anothe …

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