Trusts on divorce: Are you stuck with an ex-spouse as trustee?
“Love is grand. Divorce is a hundred grand.” (Anon) Trusts may be formed for a variety of reasons, and the purpose and structure of each trust will inform the choice of trustees. When it comes to families aiming to preserve and protect family assets for future generations, often both spouses are appointed not only as […]
What must you prove to remove a trustee?
It is perhaps inevitable that occasionally disagreements will arise between trustees as to how to administer and manage the trust and its assets under your control. If those disagreements escalate to the extent that trustees can no longer work together, and if attempts at negotiating a peaceful departure fail, an approach to the High Court […]
Trusts: New directive on independent trustees
If you plan to form a trust, you need to know about a new directive from the Chief Master of the High Court to all Master’s Offices in the country. The directive applies to all new trusts (those “registered for the first time”) by the Master. Following a series of court cases in which the […]
EIENDOM EN TRUSTS: WEES VERSIGTIG
“Hierdie saak illustreer weereens dat mens met omsigtigheid met ‘n trust moet sake doen.” (Vry vertaalde aanhaling uit die uitspraak hieronder.) Die meeste van ons gaan slegs in saketransaksies met trusts te doene kry, waar ons eiendom koop wat aan ‘n trust behoort; of eiendom in ‘n trust koop. Dit bly egter van uiterste belang […]
PROPERTY AND TRUSTS: BE CAREFUL!
“This case yet again demonstrates the need to be careful when dealing with a trust” (extract from judgment below) For most of us, business dealings with trusts are most likely to happen when selling a property to, or buying a property from, a trust. But no matter why or how it happens, have your lawyer […]