vested trust
Bewind trusts are created as trading vehicles and provide trustees with limited liability as well as certain tax benefits for beneficiaries. In a bewind trust, the trust founder sets up the trust in such a way that the assets and
In December 2022, there were further stringent amendments made to the Trust Property Control Act, including a change in the trustees reporting and the introduction of a new definition of ‘beneficial owner’.
While trustees are able to outsource the accounting functions of the trust, keep in mind that they remain responsible for the management of the trust assets. This includes keeping separate records of the trust assets, preparing annual financial statements, investing
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
Before setting up the trust, you will need to consider whether it should take the form of a testamentary or living trust. A living, or inter vivos, trust is set up during your lifetime using a trust deed as the
If you have a Will, it is likely that the Latin term per stirpes appears in your Will. Per stirpes is a legal stipulation which requires that if one of your beneficiaries dies before you, her share of the inheritance
