RECENT NEWS
The appointment of an Independent Trustee in Trusts
Trustees are the guardians of the trust assets and have a duty to manage these assets in the best interests of the beneficiaries. SARS and creditors frequently make attempts to attack trusts, but this can be mitigated through the appointment of an independent trustee....
A recent High Court case regarding accessibility of information from the Trustees of a Trust.
High Court case 21 January 2021: RS NO and Others v CMS and Others; In re: CMS v RS and Others (6837/2020) [2021] ZAWCHC 6. In this case, which is linked to a divorce mediation process, the wife obtained a subpoena against Investec Bank to provide information in its...
WHICH ONE WINS THE BATTLE – THE TRUST DEED, THE WILL OR THE LETTER OF WISHES?
People, generally speaking, do not pay sufficient attention to what they want to happen with their assets upon their deaths. This can be ascribed to estate planning not being given priority at a given time, or to people shying away from dealing with thoughts around...
POLITICAL RESEARCH NOTE AN INDEPENDENT ANALYST’S VIEW
COVID-19 VACCINE SUPPLY 21 JANUARY 2021 A proverbial storm has developed around South Africa’s procurement, or the perceived lack thereof, of Covid-19 vaccines. People are understandably anxious. I therefore compiled this note from publicly available information, and...
KEY ISSUES WHEN CREATING A TESTAMENTARY TRUST
In a recent court case, van Rensburg v van Rensburg N.O. and Others (24 March 2020) issues around a testamentary trust were highlighted yet again. As the will of a deceased person forms the trust instrument, no further trust instrument is required to be lodged with...
Landmark ‘parental rights’ case in the offing
A lesbian couple have launched an application in the Gauteng High Court (Johannesburg) intended to block an artificial insemination sperm donor from claiming parental rights to their child. A notice filed by lawyers for the couple indicated that the couple, in a...
‘Marital facade’ costly for ‘wife’s’ ex-husband
You can have a wedding ceremony in a church with a minister’s blessing … but that does not necessarily mean you are legally married. This emerged when a woman sought continued maintenance from her ex-husband who believed he was no longer liable to pay as she had...
The impact of the EU Regulations on fiduciary advice in South Africa
December 1st, 2020 The increased tendency of South Africans to establish geographically diversified estates – whether as a result of cross-border travelling, studying, work or business opportunities – has complicated not only their own lives, but also those of their...
Trust-to-trust: Can you end up paying tax on a trust distribution which you have not yet received?
As a general rule, income received by, or accrued to, a discretionary trust will be taxed in the hands of the trust, unless it is distributed before the trust’s financial year end (February each year) to a South African resident beneficiary, in which case it will be...