Tag: Trusts

Trusts remain a valuable estate planning and asset protection tool, but they also carry ongoing compliance obligations. Many trustees assume that a dormant trust with no income, assets, or activity can simply be left alone. SARS has made it clear that inactivity does not remove a trust’s compliance obligations. With penalties now being imposed for outstanding trust returns, dormant trusts may be attracting more attention than their trustees realise.

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