Page 40 - Nexia SAB&T Trust Guide 2024

Documents Required by Master to Register Inter Vivos Testamentary
the Trust Trust Trust
Trustee(s) Representative Identification –
Certified copies of ID or Passport (Mandatory for ✔ ✔
Organisation Trustee(s))
Beneficiaries Identification – Certified Copies of
ID or Birth Certificates /Passport /Organisation ✔ ✔
(CKI)
Bond of security by the trustees – form J344 ✔ ✔
(if required by the Master)
Statement of case for Master to dispense with ✔ ✔
security (JM21)
Final Certified Court order (if applicable) ✔ ✔
Deregistration of a trust
The Trust Property Control Act makes no provision for the deregistration of a
trust. The common law, however makes provision for the termination of a trust by
operation of law in the following circumstances:
■ By statute.
■ Trust objective has been realised.
■ Failure of the beneficiary.
■ Renunciation or repudiation of rights by the beneficiary.
■ Trust assets have been destroyed without fault on the part of the trustee.
■ Operation of a resolutive condition.
If a trust can be terminated on one of the above grounds then the Master will
deregister a trust. For the termination of a trust the following documents are
required:
■ The original Letters of Authority.
■ A trustee resolution resolving to deregister the trust (where applicable).
■ A tax compliance certificate from SARS, indicating tax compliance of the trust.
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