Ten things to know about trusts

1. A trust is a legal entity consisting of a donor/founder, trustees and beneficiaries. The founder holds assets (without owning them) for the benefit of the trust beneficiaries. In South Africa, trusts are governed by the Trust Property Control Act of 1988, and are registered by the Master of the High Court. The trust division … Read more Ten things to know about trusts

Can you borrow money from a trust?

A trust is a legal entity consisting of a donor/founder, trustees and beneficiaries. The founder holds assets (without owning them) for the benefit of the trust beneficiaries. A trust beneficiary is entitled to benefit under the trust arrangement, from vested or discretionary rights determined by the trust deed. Beneficiaries of a trust are usually natural … Read more Can you borrow money from a trust?

Can you register a car to a trust?

This is possible, and is usually done using a family trust, which is a type of inter vivos (living) trust. Living trusts are created by agreement between living people. They are very useful for keeping assets for generations on end. The Founder establishes the trust during his/her lifetime; this constitutes an agreement between him/herself and … Read more Can you register a car to a trust?

Family trusts

Family trusts can be testamentary or inter vivos trusts. Their main purpose is the protection and maintenance of trust property, for the benefit of minor children, or family relations of the founder. In this type of trust, the trustees are all beneficiaries and the beneficiaries are all related to one another. As such, the Master … Read more Family trusts