Trusts
  • A Trust is defined as a legal institution where a trustee, in accordance with the express intentions of the donor or founder, has the right to the property, subject to the fact that he may only utilise the goods exclusively for the benefit of beneficiaries.
  • Trusts may be created in a Deed of Trust, a will or a Nuptial contract (ANC).
  • Trust assets should be defined, and may include movables, immovable's (like land or houses) or intellectual property.
  • Trust creation is a formal process, and requires lodgment of the trust deed with the Master, and trustees may only act once they receive letters of authorization from the Master.
  • So what are the advantages of forming a trust?
  • Trusts assist in reducing income tax as the Trust cannot be taxed on income earned from the trust assets. Estate Duty can be drastically reduced since the trust assets do not form part of the calculation for estate duty.
  • Donations tax - donations to a Trust are donations tax exempt if the trust property is kept in the trust as long as the donor lives.
  • Should you have any questions related to this topic, or wish us to create and register a trust for R4500.00 feel free to Contact us.

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