trustees
The type of trust you intend to register will hinge on the estate planning objectives that you hope your trust will achieve. For instance, a family trust can be used to house and protect property or assets intended for future
If you have children under the age of 18, keep in mind that in terms of our law, they are incapable of inheriting directly. This means that any assets bequeathed directly to them may either be held in the Guardian’s
Given the fact that you will be relinquishing control of your assets, you need to ensure that your trustees have the requisite skill and expertise to manage the trust assets. Remember, if you are setting up a family trust, you
In the event of your death, the funds held in your retirement annuity do not form part of your deceased estate and are not included when calculating your estate duty liability or executor’s fees – meaning that your RA effectively
If you’ve acquired any foreign assets since drafting your Will, this may necessitate a review of your Will. Depending on the nature and jurisdiction of the foreign assets, it may be necessary to have a foreign Will drafted. In such
While South Africans enjoy freedom of testation, this freedom has a number of limitations, with Section 37 being one of them. The Act makes it clear that the member’s Will or beneficiary nomination cannot override the provisions of Section 37C,
It is important that you give careful thought to those you intending to nominate as trustees as you will effectively be entrusting them with an enormous responsibility – keeping in mind that you will no longer be around when their
Trustees have a fiduciary duty to manage the trust assets in the interests of the beneficiaries and in line with the terms and conditions set out in the Will. It is essential to nominate trustees who have the knowledge and
The trustees that you appoint will have a fiduciary duty to manage the trust assets in the best interests of the trust beneficiaries, and it is therefore important to choose your trustees wisely. Ideally, you should consider someone who has
