special trust
A Type A special trust is an excellent estate planning tool which is designed to take care of people who are not able to manage their own finances, such as a special needs child. A Type A special trust is
A curator bonis has limited powers of investment which can adversely affect the growth of assets in the estate. The nature of the job together with generally poor remuneration means it is difficult to find appropriate candidates to assume the
As a word of caution, if your will is found to be invalid, for whatever reason, no testamentary trust can be formed which can result in your beneficiaries being financially prejudiced.
As an aside, it is important to note that this type of trust can only be set up for the benefit of a disabled person and no one else’s benefit. Where there are two or more beneficiaries to your trust,
If you have a loved one who is mentally and/or physically incapable of managing his affairs, our common law makes it possible to approach the High Court for the appointment of a Curator Bonis, although keep in mind that the
An effective way to ensure that your affairs can be protected and safely managed in the event of mental incapacity is through the use of an inter vivos trust, which is a type of trust set up during your lifetime,
Unlike a child’s natural guardian, a guardian appointed by the court can choose whether to accept the position or not. However, in assuming the office of guardian they do not have a legal duty to support the child but rather
The estate planning mechanisms required to assist with the management of a dementia patent’s affairs also come at a price. Where someone has an early dementia diagnosis, setting up a Special Trust Type A to house the assets of the
Through an advance healthcare directive, you can provide your medical proxy with comfort that the decisions they are making are in line with your wishes. For instance, you can include guidelines on when to allow artificial life support, organ and
