Frequently Asked Questions Trusts

A Trust is very flexible and the reason for the creation thereof can be very diverse. It is therefore very important to take advice from a qualified professional in order to ensure that a trust is suited to your particular needs.

The first step is to contact one of our Fiduciary Consultants who will guide and advise you on the way forward. Contact us at [email protected] to guide you on establishing a Trust.

A trustee is the person/entity that administers the trust assets for the benefit of the beneficiaries and in accordance with the provisions of the trust deed. ​​​​​​​

The Founder, also referred to as the Donor is the person who established the Trust.

Trust law, and the relevant tax law aspects, are very complicated and non-compliance can have severe consequences; a Corporate Trustee / Independent Trustee will ensure that the Trust is administered in a prudent and compliant manner. A Corporate Trustee also ensures continuity across generations and will ensure that the Trust is administered in accordance with the wishes of the founder long after his/her passing. Furthermore, the core idea of a Trust is the separation of control and benefit: the employment of an Independent Trustee further ensures compliance with this principle.

The trustee holds a fiduciary position and is held to a higher standard than that of an ordinary person. A trustee must act with the utmost good faith and must adhere to the provisions of the trust deed and relevant trust law principles.

The Master of the High Court is the government entity that exercises an oversight role over trustees in South Africa.

No person may act as a trustee without being properly appointed as such by the Master of the High Court. The Letter of Authority is the document that is issued by the Master of the High Court which confirms the appointment of a person as trustee in a particular Trust.