Trusts & Estates Law News
More newsTrusts: Now an administrative nightmare?
South Africa’s recent greylisting has necessitated urgent changes to inter alia the Trust Property Control Act 57 of 1988 (Act). Amendments have been made to sections 1, 6, 8, 10, 11, 19, 20 of the Act, as well as the regulations thereto, and came into effect on 1 April 2023. In particular, sections 10, 11 and 19 place obligations on trustees.
National Wills Week
During National Wills Week, from 12-16 September 2022, Allison Alexander, Practice Head in our Trusts & Estates practice provides insight on the legal implications in the absence of a will.
Estate planning gone wrong: Reducing an accrual claim by establishing a trust
Proper estate planning eliminates a myriad of life’s “ what ifs ?”. It involves planning well in advance to avoid a lot of uncertainty and unpleasant eventualities. When a couple contemplates getting married, it is inconceivable that a divorce could ensue. However, Statistics South Africa reports that 4 out of 10 marriages end up in divorces in less than 10 years of marriage. It is therefore crucial to have the foresight to avoid an undesired outcome.