Trusts play an important role in financial planning, estate structuring, asset protection and wealth preservation. A well-structured trust (albeit a testamentary trust, living trust or bewind trust) offers unique benefits and advantages to its founder, trustees and beneficiaries.
Trusts could however pose significant challenges, risks and liabilities if they are not adequately planned and structured. As trust law is a complex and technical area (encompassing various fields of law, including tax law), it is vital to ensure that your trust deed is structured and drafted by a professional who takes account of and has regard to your specific requirements and circumstances. Template type trust deeds, drafted by non-professionals, more often than not result in damning and costly errors.
Through our professional team we are able to provide expert advice and professional services regarding the myriad of issues to be considered when founding a trust.
In general our service offering includes:
- identifying and advising on whether a trust would be appropriate in the circumstances
- drafting the trust deed
- setting up and registering trusts for special purposes (such as public benefit organisations, non-profit organisations, etc.)
- dissolving a trust
- identifying what type of trust to form
- effectively and efficiently structuring the trust
- registering the trust with the relevant authorities (incl. the Master of the High Court and, if relevant, the South African Revenue Service)