Registration and Administration of Trusts

Our comprehensive knowledge of Trusts, will guide you in effective estate planning and in setting up a legacy for your descendants by using trusts as vehicles. We can aid 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)
  • Testamentary trust (stipulation in a will) for the benefit of the testator’s heirs

* Choosing the “right fit” attorney is an important matter! We fully appreciate this and therefore offer a reasonably priced and commitment free initial consultation (R875.50 VAT included per initial consultation), so you can ensure you have found the “right fit” before contracting legal work! Call us today!

 

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 …

Read full story

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 …

Read full story
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 …

Read full story
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 …

Read full story

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 …

Read full story

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 …

Read full story

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 …

Read full story

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 …

Read full story

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 …

Read full story

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 …

Read full story

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 …

Read full story

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 …

Read full story