Trusts

Article courtesy of Law Dot News | Contracts | Property | Trusts Contracting with Trusts – Is a Majority Decision Valid? “Externally, trustees cannot disagree. In the external sphere the Trust functions by virtue of its resolutions, which have to be supported by the full complement of the Trust body.” (Extract from judgment below) A recent Supreme Court of AppealRead more

Article courtesy of Law Dot News | Trusts - Trustees Trustees: Your New Duty to Report Beneficial Owners “National Treasury, therefore, expects that if South Africa continues to make significant improvements in effectiveness and swiftly exits grey listing, it will have a limited impact on financial stability and costs of doing business with South Africa, particularly if South Africa movesRead more

Article courtesy of Law Dot News | Family Law - Trusts on Divorce Trusts on Divorce: Are You Stuck with an Ex-Spouse as Trustee? “Love is grand. Divorce is a hundred grand.” (Anon) That’s a great scenario whilst the marriage prospers, but what happens on divorce? A recent High Court decision addressed one such scenario – Trusts may be formedRead more

Article courtesy of Law Dot News Trusts - What Must You Prove to Remove a Trustee? “…where there is disharmony, the essential test is whether it imperils the Trust estate or its proper administration” (extract from judgment below) Trustees are of course supposed to work together to protect and further the interests of their trust and its beneficiaries, but theRead more

Article courtesy of Law Dot News “Animosity and difference of opinion are not sufficient to have a trustee removed from office and/or for the majority of trustees to unilaterally force another to vacate his/her office…” (Extract from judgment below) When family infighting impacts a family trust, an early casualty is often the relationship between the appointed trustees and beneficiaries, and/orRead more