Can trustees sell trust property to their own company?
The Supreme Court of Appeal (SCA) recently deliberated on whether a court sanction is necessary to validate the sale of shares owned by a trust to a company controlled indirectly by two of the trustees of the trust. This matter was addressed in the case of Kuttel vs Master of the High Court and Others. […]
Lost your original title deed? What do you do?
Before the transfer takes place, the owner (seller) must make a written application to the registrar of deeds, requesting a certificate of the registered title (CRT) of the land in terms of Section 38 of the Deeds Registries Act 47 of 1937. The application must be accompanied by an affidavit attested to by the owner […]
Why is an independent trustee important?
A well-known court case, Land Bank of South Africa vs JL Parker and Two Others (the Parker case) irrevocably changed the requirements for independent trustees to be appointed and placed renewed focus on the duties and responsibilities of all trustees. What is an independent trustee? As a result of the Parker case, most Masters of […]
Waarom is ‘n onafhanklike trustee belangrik
In 1989 het die Wet op die Beheer oor Trustgoed (Wet Nr 57 van 1988) in werking getree. Hierdie wetgewing is ingestel om die basiese beginsels van Trusts en Trust-konsepte te omskryf en te definieer aangesien daar ‘n leemte in daardie opsig in ons regstelsel rondom Trusts bestaan het en die hoofdoel van hierdie Wet […]
Deceased’s will declared invalid, despite clear wishes
The Wills Act sets out the requirements for a valid Last Will and Testament. For a will to be valid, it must be signed and witnessed. What happens if the wishes of the deceased are clear, but the document does not meet the requirements of a valid will? This was the heart of the matter […]
Caring for your loved ones by caring for their future
We’ve all seen it in movies and novels: A young unsuspecting person wakes up one day to find out that they had been left an extraordinarily large estate from a distant relative that they hardly knew existed. We chalk it up to an absurdity. Something like that would never happen in real life, would it? […]
Taking your will out of lockdown
The last few weeks have seen huge changes in the way we live our lives. The demand for wills has surged during the COVID-19 pandemic, which is understandable in the midst of a grave health crisis. As attorneys, we are able to work from home and have access to the necessary technology that enables agile […]
Die belangrikheid van ‘n Trust
Belastingbeplanning is noodsaaklik om te verseker dat jou welverdiende Rande, binne alle wette en regulasies van die Suid-Afrikaanse Inkomstediens en die Inkomstebelastingwet, te rek vir die nabye toekoms maar ook vir jou goue jare. Dit is ‘n gegewe dat almal iewers belasting sal betaal, ongeag hoe haarfyn jou beplanning is. Daar is ‘n diverse verskeidenheid […]
The importance of trustee meetings and minutes
Trustees should always act in good faith and in the best interest of the beneficiaries. One of the main duties of the trustees is to manage the trust efficiently which requires effective communication between all the related parties. An effective management system should be in place to ensure that the correct decision is made by […]
How to deregister or terminate a trust
There is no provision in the Trust Property Control Act, 1988 that requires the deregistration of trusts. However, this said, it does not mean that a trust can never be terminated, as there are a few events that can occur during the lifetime of the founder, the trustees or the beneficiaries. When considering the termination […]