Welcome to the new Trusts24 Website

Trust24After many years of faithful service, we thought it was finally time to retire the old site and replace it with a slicker, more advanced website.

So what’s new? We’ve refreshed the Trust Law content and tied it all in with our social media activity.

We are continuing to update our Projects and the Resource Centre with useful information about our work and useful information on social policy related issues, so please do check back with us for updates.

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Please contact us to let us know what you think of our new website – all comments and feedback are welcome. Please also let us know if you cannot find something or would like to make any suggestions for new information or topics.

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Sample family Trust

Sample family Trust

DEED OF TRUST

between

XXX

("the Founder")

and

XXX

and

Trustees

("the first Trustees")

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Information needed to Register a trust

Information needed to Register a trust

 

TRUST DETAIL

Name of Trust

FOUNDER

Full name & Surname
Identity Number
Occupation
Physical Address
E-mail Address

TRUSTEES

TRUSTEE 1 Full name & Surname: Identity number: Residential address: Occupation:

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Piercing the Corporate Veneer of a Trust

The effective management and administration of a Trust requires much more than merely signing the Trust Deed and the subsequent issuing of the Letter of Authority by the Master of the High Court. The purpose of an inter vivos Trust is, after all, to manage at all times the assets in the Trust to the advantage of the beneficiaries of the Trust. Therefore the alter ego principle, which occurs more often than we think, can have a big influence on the rulings of the courts when it comes to the question of whether a Founder and/or Trustee is indeed one and the same as his or her Trust. In Badenhorst v Badenhorst 2006 (2) SA 255 (SCA) ([2006] 2 All SA 363) the Appeal Court ruled that the veil which separates the assets of the Trust from the personal estate of the Trustee/Founder shall be lifted where it is found that the Trust is the alter ego of the Trustee or Founder and that the affairs of the Trust are managed in a manner that leads to the personal welfare of the Trustee or Founder, and is not managed to the advantage of the beneficiaries. In the Appeal Court ruling in Land and Agricultural Development Bank of South Africa v Parker and Others 2005 (2) SA 77 (SCA) ([2004] 4 All SA 261) Judge Cameron stressed that the Trust as an instrument is often abused: “(t)he core idea of the Trust is the separation of ownership (or control) from enjoyment. Though a Trustee can also be a beneficiary, the central notion is that the person entrusted with control exercises it on behalf of and in the interests of another.”

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