Study notes: Honours:

Essential & trust property

Trusts

All honours study notes

Essential & trust property

  • Essential & trust property control act applies in the same way to both intervivos and mortis cause trusts.
    • Purpose of intervivos trustsProtection of assets against insolvency or legal claims.
    • Minimisation of estate duty.

A person can cease to be a trustee

1.1.  A person can cease to be a trustee by:

  • Death

Number of trustees

There are no legal prescriptions regarding the number of trustees (can be 1 to 100).

Can a founder be a beneficiary?

The founder can be a beneficiary even if he is the only beneficiary.

Can a founder be a trustee?

The founder can be a trustee, but not the only one.