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Trusts in South Africa – A Basic Guide for Trust Founders, Trustees & Beneficiaries

Not all people who find themselves having to deal with Trusts understand what it is all about, therefore in this brief discussion we will highlight the prominent issues that one has to familiarise themselves with in order to safeguard their interests when dealing with a Trust.

Signing on Behalf of a Trust – A Checklist

In terms of the Trust Property Control Act 57 of 1988 (the Act) the definition of a Trust can be paraphrased as, a design whereby a person’s ownership interest in assets is, by way of a trust instrument, put under the care, control and trust of other persons referred to as Trustees and/or beneficiaries, for the benefit of nominated beneficiaries.

As a Trustee – Where Authority Begins and Ends

The assumption of a position or office comes with specific responsibilities and duties. The anticipation is that the bearer will perform the duties as required and expected, within set confines. These parameters are what define roles so as to achieve coordinated and oriented outcomes.

Acting on Behalf of a Trust – The Enforceability of Trustee Action Prior to Authorisation

The issuing of the Letter of Authority as Trustee by the Master of the High Court signals the assumption of office as Trustee to the designated party. It is at this point that the responsibilities, authority and duties as a Trustee begin to be binding and effective.

Business Interruption – Will Claims Exceed SASRIA’s Capital War Chest?

In a statement on 28 July the Minister of Finance estimated that the damage in KwaZulu Natal alone stands at R15 Billion, which by far exceeds the capitalisation of the public entity which is liable for loss emanating from public disorder, riots, and violence, being SASRIA.

Understanding SASRIA – Your Questions Answered Part II

SASRIA is an acronym for South African Special Risks Insurance Association which is a short-term insurance public entity listed under Schedule 3B of the Public Finance Management Act 1 of 1999, owned by the State and under the control of the National Treasury.

Understanding SASRIA – Your Questions Answered Part I

Owing to the recent protests and looting in some parts of Kwa-Zulu Natal and Gauteng, there has been much talk in the media and streets about the South African Special Risks Insurance Association (SASRIA) and its role as a short-term insurance public entity.

Cover that Starts Where Other Cover Ends – SASRIA

Most insurance products are designed in such a way that whilst they provide cover for loss, the insurance company itself remains viable as a business. To attain this balance, most insurance products have a list of strict requirements and exclusions which are consulted whenever a claim is processed.

Documents Needed to Marry a Foreigner in South Africa

Marrying a foreigner in South Africa is relatively straight forward if you have a local marriage officer on your side. However, if you are a South African marrying a foreigner outside of the country, you will need to pay special attention to the advice in this article.

Are You Alright with All Rights Under POPIA?

The grace period to allow all entities that gather and process personal information to comply is fast coming to an end and thereafter all are required and expected to have complied fully with the requirements of the POPIA.

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