Family Trust explained

To ensure that your assets are safe and protected, you may want to consider a family trust. Having a family trust means that your assets will be kept safe and secure for the trust beneficiaries – those who will be benefiting from the trust. Furthermore, the trustee will not enjoy personal benefits of the trust but will simply be holding the assets for the trust beneficiaries. [caption id="attachment_4576" align="alignleft" width="300"] Call our law offices on: 0211110090
Email us at: [email protected][/caption] Exactly how is this different from your Last Will and Testament? It is simple. The will takes effect only after one’s death while the trust can be executed in your living days. For more legal advice on professional legal drafting of family trust and wills, call our law offices on 021 424 3487 today and have an online appointment made for you today.

Trust registration South Africa

Before going forth with a trust, you need to understand why you’re getting a trust. The following are important pointers to consider when getting a trust:
  • Understand why you are setting up the trust: think about the purpose of the trust.
  • What type of trust you would like to set up: find out more about the different type of trusts and make a call as to which trust you will require.
  • Property and assets: think about how you like to set out the rules of the trust and think about how this will govern your property and assets.
  • Beneficiaries: the person who will benefit from your assets. Think about who your beneficiaries are and how they will benefit – will it be a few beneficiaries or will it be an institution?
  • Trustee: this is the one who is in charge of the trust. He/she must understand the expectations and rules of the trust and ensure that all is in order.
  • Rules: different trusts have different rules. Your legal expert will explain this you when attempting to register your trust. It is important that the rules are carried out accordingly.
[caption id="attachment_4577" align="alignleft" width="300"] Call our law offices on: 0211110090
Email us at: [email protected][/caption] For more information on the procedure of trust registration, call our law offices on 021 424 3487 for an online appointment for a professional legal consultation. If you’re residing out of Cape Town, then fell free to make use of our national number on 087 701 1124 today.

Trust vs Will

First of all, a will is written document signed with witnesses which indicates how your assets will be distributed at the time of your death. A will is effective only after your death by which all wishes of the deceased must be carried out accordingly. [caption id="attachment_4578" align="alignleft" width="300"] Call our law offices on: 0211110090
Email us at: [email protected][/caption] A trust on the other hand, can be effective before and after death and is associated with assets and property management. And while this may sound convenient and appealing, it does come with its own disadvantage as well. The trust can be more of a hassle due to it having to be funded and actively managed in your living days. Speak to your family legal expert today on family trusts and wills and have your will and trust professionally drafted with us. Call our law offices on 021 424 3487 for an online appointment today. Connect with us!  
Posted on by Telelaw

Family Trust explained

To ensure that your assets are safe and protected, you may want to consider a family trust. Having a family trust means that your assets will be kept safe and secure for the trust beneficiaries – those who will be benefiting from the trust. Furthermore, the trustee will not enjoy personal benefits of the trust but will simply be holding the assets for the trust beneficiaries.

Call our law offices on: 0211110090
Email us at: [email protected]

Exactly how is this different from your Last Will and Testament? It is simple. The will takes effect only after one’s death while the trust can be executed in your living days.

For more legal advice on professional legal drafting of family trust and wills, call our law offices on 021 424 3487 today and have an online appointment made for you today.

Trust registration South Africa

Before going forth with a trust, you need to understand why you’re getting a trust. The following are important pointers to consider when getting a trust:

  • Understand why you are setting up the trust: think about the purpose of the trust.
  • What type of trust you would like to set up: find out more about the different type of trusts and make a call as to which trust you will require.
  • Property and assets: think about how you like to set out the rules of the trust and think about how this will govern your property and assets.
  • Beneficiaries: the person who will benefit from your assets. Think about who your beneficiaries are and how they will benefit – will it be a few beneficiaries or will it be an institution?
  • Trustee: this is the one who is in charge of the trust. He/she must understand the expectations and rules of the trust and ensure that all is in order.
  • Rules: different trusts have different rules. Your legal expert will explain this you when attempting to register your trust. It is important that the rules are carried out accordingly.
Call our law offices on: 0211110090
Email us at: [email protected]

For more information on the procedure of trust registration, call our law offices on 021 424 3487 for an online appointment for a professional legal consultation. If you’re residing out of Cape Town, then fell free to make use of our national number on 087 701 1124 today.

Trust vs Will

First of all, a will is written document signed with witnesses which indicates how your assets will be distributed at the time of your death. A will is effective only after your death by which all wishes of the deceased must be carried out accordingly.

Call our law offices on: 0211110090
Email us at: [email protected]

A trust on the other hand, can be effective before and after death and is associated with assets and property management. And while this may sound convenient and appealing, it does come with its own disadvantage as well. The trust can be more of a hassle due to it having to be funded and actively managed in your living days.

Speak to your family legal expert today on family trusts and wills and have your will and trust professionally drafted with us. Call our law offices on 021 424 3487 for an online appointment today.

Connect with us!

 

Related Post

What are twenty (20) common legal questions and answers in South Africa?

While legal questions can vary depending on country and circumstances, here are 20 common legal questions and brief answers. Keep in mind that these responses are general and may not cover all aspects of the law. If you have specific legal concerns, it’s always advisable to consult with a qualified attorney or advocate.

  1. What should I do if I’m involved in a car accident?

    • Answer: Ensure everyone is safe, call the police, exchange information with the other party, and document the scene.

  2. How do I create a legally binding contract?

    • Answer: Include offer, acceptance, consideration, legality, capacity, and intention to create legal relations.

  3. What is the process for filing for divorce?

    • Answer: It generally involves filing a Summons, serving the other party, and going through court proceedings.

  4. How can I protect my intellectual property?

    • Answer: Register trademarks, patents, or copyrights depending on the type of intellectual property.

  5. What is the difference between a will and a living will?

    • Answer: A will outlines distribution of assets after death; a living will expresses medical treatment preferences.

  6. How can I start a small business legally?

    • Answer: Register your business, obtain necessary licenses, and comply with tax regulations.

  7. What are my rights if I’m arrested?

    • Answer: You have the right to remain silent, the right to an attorney, and the right to a fair trial.
  8. How does insolvency work?
    • Answer: It generally involves the filing of a Court Application, attending a meeting of creditors, and the discharge of debts.

  9. Can I be fired without cause?

    • Answer: No

  10. What is the process for adopting a child?

    • Answer: It involves an application to the Children’s Court, where an adoption social worker gets involved. The process is outlined in the Children’s Act.

  11. What rights do tenants have?

    • Answer: Rights include the right to a habitable dwelling, privacy, and protection from unlawful eviction.

  12. How do I deal with workplace discrimination?

    • Answer: Document incidents, report to HR, and consult an employment lawyer if necessary.

  13. What steps should I take after being injured in a slip and fall accident?

    • Answer: Seek medical attention, document the scene, and consult with an attorney or advocate.

  14. Can I represent myself in court?

    • Answer: Yes, but it’s often advisable to seek legal representation for complex matters.

  15. What is the process for obtaining a patent?

    • Answer: File a patent application with the relevant patent office.
  16. What age is a child an adult?
    • Answer: 18
  17. Where do I get divorced?
    • Answer: You start the process by issuing a Summons out of the Court.

  18. How can I dispute a traffic ticket?

    • Answer: Follow the procedures outlined on the ticket, gather evidence, and consider consulting with an attorney or advocate.

  19. What rights do I have when stopped by the police?

    • Answer: You have the right to remain silent, the right to refuse searches, and the right to an attorney.

  20. How do I start the process of creating a will?

    • Answer: Consult with an attorney, list your assets, and specify your wishes for distribution. You can also do it on your own if you know what you are doing.

Posted on by Telelaw

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