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Trusts are popular state planning tools and are widely used in most jurisdictions in the financial world. The trustees of an inter vivos trust (L Bates) a natural person or a juristic person as trustee may be a member provided that no juristic person can be a beneficiary (directly or indirectly). The trust may be a member of a Close corporation. The Registrar of Close Corporations has issued guidelines to users to familiarise users of Close Corporations with the relevant procedural requirements to effect membership of trustees of inter vivos trusts. For more information regarding this aspect of trusts kindly contact us by telephone or email and we will clarify it. The trust has no legal personality thus it cannot own property. However, the Deeds Act was amended to define a trust as a "person" for the purposes of the Deeds Act so that registration in the name of the trust now takes place.
Parties to the trust
Classification of Trusts
There are various different types of trusts which we do not intend to expound on but further information can be obtained if you so wish by contacting us.
The different types of trusts are, inter alia, inter vivos, testamentary and mortis causa trusts, bewind trusts, vested trusts, discretionary trusts.
The requirements for a valid trust are as follows:
163 Bayers Naude
Tel (011) 782-1221
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