Page 3 - Nexia SAB&T Trust Guide 2022

INDEX

Introduction 2
Legal Status of Trusts in SA 3
Essential Requirements for a Valid Trust 4
Structure of a Trust 5
Trust Instrument 6
Types of Trust 7
Special Trusts 12
Identifying Types of Special Trust 13
Tax Treatment of Special Trusts 14
Advantages and Disadvantages of a Trust 16
Beneficiaries of a Trust 17
Appointment and Nature of Office of a Trustee 19
Rights and Powers of Trustees 21
Duties, Responsibilities and Obligations of Trustees 22
Summary: Duties of Trustees 27
Liability of Trustees 29
Removal and Termination of Office of a Trustee 31
Specific Legislation and Common Law 33
Registration and Deregistration of a Trust 36
Trusts as a Financial and Estate Planning Tool 38
Immovable Property and Trusts 40
Taxation of Trusts 42
Master of the High Court Offices in South Africa 46
Examples of Important Case Law 47

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