FAQ’s

FAQ’s

What is the origin of Trusts?
The concept of a Trust is over 900 years old and originates from English Law. Over time the South African Law on Trusts has been developed into what we have today by legislature, the courts and legal practitioners.

What is a Trust?
A Trust can be described as a legal relationship which has been created by a person (known as the Founder), by placing assets under control of another person (known as theTrustee), during the Founders lifetime (known as an Inter Vivos Trust) or on the Founder’s death (known as a Testamentary Trust) for the benefit of third parties (theBeneficiaries).

How does one create a Trust?
An Inter Vivos Trust is created by means of agreement (a contract) between the Founder and the Trustees, during the lifetime of the Founder. The agreement is called the Trust instrument (the Trust Deed) and is signed in accordance with the Law of Contracts and registered with the Master of the High Court.

The Trust Deed is a specialized legal document, which requires proper expertise for the drawing up thereof.

Testamentary Trust is created on the death of the testator in terms of specified provisions as set out in the testator’s Last Will and Testament