The Family Trust in South Africa – Do you have your Family Trust registered?

A family trust can play an important role in your family’s life. It may continue to do so after you passed away. The same like owning property, a car or a business, creating and running a family trust may sometimes be beneficial to both you and your family. The aim of this article is to bring the concept of the Family Trust to your attention.

What is a Family Trust in simple terms?

Basically, someone called a founder or donor would donate some money or property and appoint trustees to administer the property for the benefit of certain identified beneficiaries. The property would then be called the Trust Property. This arrangement and agreement is called a Trust. The terms of the agreement would be stipulated in a Trust Deed. The Trust Deed is a legal document. This document would then be registered with the Office of the Master of the High Court. The Trustees may only act in terms of the Trust Deed. All property, money and so on that is donated to the Trust, by the founder or anyone else, does not belong to him or her. The property belongs to the trustees in their capacity as trustees for the time being of the Trust. So, if trustees change, the new trustees take on the responsibility to manage the Trust Property as initially agreed to by the initial Trustees and the Donor. And of course, the Trustees can only use the Trust Property as stipulated in the Trust Deed.

Example of the implementation of a Family Trust

Let’s say the Trust Deeds states that the Trust assets are to be used for the benefit of the Founder’s grandchildren. It is to be used for school fees, and tertiary education and the like. Therefore, the Trustees would then have to utilise the Trust property to pay for the school fees of the founder’s grandchildren. If the grandchildren are not at school yet, the Trustees may have to invest the Trust assets until such time it is needed for school fees.

When would a Trust Terminate?

The Trust Deed would stipulate when the Trust would terminate and what should happen to its assets at the time. If one applies the example above, it may state that the Trust terminates when the youngest grandchild completes University. Should this happen, then the Trust Deed may stipulate that the remaining Trust assets be distributed to all these grandchildren in equal shares.

Tax and legal implications of a Trust

The tax laws applicable to a Trust may differ significantly to that of an individual or a company. It is therefore important to consult an accountant or tax practitioner on such implications. If a Trust is an ideal vehicle to use to secure your family’s financial future, then creating a Trust sooner than later may be the best thing to do.

Speak to us should you wish to register a Family Trust

Should you wish to register a Family Trust, feel free to contact us. We are certain that you found the above article useful and interesting. Please consider sharing it on the share buttons below. They include Facebook, Twitter, LinkedIn, WhatsApp, Gmail and more. Someone may find it useful as well. Should you require business advice or services, feel free to click on these links: Business SA | Private Legal | Envirolaws    
Posted on by Telelaw

The Family Trust in South Africa – Do you have your Family Trust registered?

A family trust can play an important role in your family’s life. It may continue to do so after you passed away. The same like owning property, a car or a business, creating and running a family trust may sometimes be beneficial to both you and your family. The aim of this article is to bring the concept of the Family Trust to your attention.

What is a Family Trust in simple terms?

Basically, someone called a founder or donor would donate some money or property and appoint trustees to administer the property for the benefit of certain identified beneficiaries. The property would then be called the Trust Property. This arrangement and agreement is called a Trust. The terms of the agreement would be stipulated in a Trust Deed. The Trust Deed is a legal document. This document would then be registered with the Office of the Master of the High Court. The Trustees may only act in terms of the Trust Deed.

All property, money and so on that is donated to the Trust, by the founder or anyone else, does not belong to him or her. The property belongs to the trustees in their capacity as trustees for the time being of the Trust. So, if trustees change, the new trustees take on the responsibility to manage the Trust Property as initially agreed to by the initial Trustees and the Donor. And of course, the Trustees can only use the Trust Property as stipulated in the Trust Deed.

Example of the implementation of a Family Trust

Let’s say the Trust Deeds states that the Trust assets are to be used for the benefit of the Founder’s grandchildren. It is to be used for school fees, and tertiary education and the like. Therefore, the Trustees would then have to utilise the Trust property to pay for the school fees of the founder’s grandchildren. If the grandchildren are not at school yet, the Trustees may have to invest the Trust assets until such time it is needed for school fees.

When would a Trust Terminate?

The Trust Deed would stipulate when the Trust would terminate and what should happen to its assets at the time. If one applies the example above, it may state that the Trust terminates when the youngest grandchild completes University. Should this happen, then the Trust Deed may stipulate that the remaining Trust assets be distributed to all these grandchildren in equal shares.

Tax and legal implications of a Trust

The tax laws applicable to a Trust may differ significantly to that of an individual or a company. It is therefore important to consult an accountant or tax practitioner on such implications. If a Trust is an ideal vehicle to use to secure your family’s financial future, then creating a Trust sooner than later may be the best thing to do.

Speak to us should you wish to register a Family Trust

Should you wish to register a Family Trust, feel free to contact us.

We are certain that you found the above article useful and interesting. Please consider sharing it on the share buttons below. They include Facebook, Twitter, LinkedIn, WhatsApp, Gmail and more. Someone may find it useful as well.

Should you require business advice or services, feel free to click on these links:

Business SA | Private Legal | Envirolaws

 

 

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Advocate Muhammad Abduroaf – Advocate of the High Court of South Africa

Advocate Muhammad Abduroaf is an advocate of the High Court of South Africa. He has the right of appearance in any Court in South Africa. Other than representing clients in Court in legal matters, he also advises them. Read further to find out more about this exceptional legal eagle. [caption id="attachment_7082" align="alignleft" width="188"]Advocate of the High Court of South Africa Legal Cape Town Advocate Muhammad Abduroaf[/caption]

Early success

Having completed his Masters in Law Degree (LL.M) in 2003, advocate Abduroaf was the same year admitted as an advocate of the High Court of South Africa. In the same year, he further successfully represented his client in the Western Cape High Court, where history was made. This was the case of Petersen v Maintenance Officer Simon’s Town Maintenance Court and Others 2004 2 SA 56 (C) 38. Because of this important case, it is now possible to claim maintenance from paternal grandparents of children born out of wedlock. This was not possible for over 80 years. If it was not for his tenacity and belief in law, his client wouldn’t receive the much-needed child support.

Advocate Abduroaf keeping the momentum

A year later, the young advocate Abduroaf, again made legal history. This was in the case of Soller v Maintenance Magistrate, Wynberg and Others 2006 2 SA 66 (C) 2006 446. In this case, the Western Cape High Court confirmed the extensive powers of the Maintenance Court, which includes interdicting pension funds. A mother struggling to obtain maintenance has an additional option because of this case. Because of the latter two cases, family law has developed constitutionally to the benefit of many.

Advocate Abduroaf’s practices for over 20 (years) years

For over 20 (twenty) years, advocate Abduroaf represented his clients in countless legal matters. These ranged from businesses, commercial, family, to criminal matters. Don’t forget about employment and delictual matters. Advocate Abduroaf fearlessly represented his clients and keeps that work ethic up until this day. You would further find a range of legal articles on the internet written by the advocate. Go ahead and do a simple search.

Attorney Referrals and Direct briefing

Advocate Abduroaf is a Trust Account Advocate. Therefore, he can take on work from attorneys or directly from members of the public. If you want to instruct him, feel free to do so.

Contact Advocate Muhammad Abduroaf

If you wish to contact Advocate Muhammad Abduroaf, feel free to call 0211110090. Follow this link to read more about the advocate.

Articles

View some of the articles written by Advocate Muhammad Abduroaf by clicking on the links:

Child Maintenance

  1. How to Apply for Child Maintenance at Court – Step by Step Guide and Advice
  2. Child Maintenance Question. How much should I pay or contribute as a parent?
  3. Child Support or maintenance claims. Does an unemployed father pay?
  4. Non-compliance with Maintenance Orders — Civil and Criminal Remedies
  5. Tricks and tips on how to win your child maintenance case

Child Custody

  1. The Law Regarding Children – The Children’s Act 38 of 2005
  2. Child born out of wedlock: Mother will not consent to her surname change and to be registered as her biological father. What can I do?
  3. How do I get full custody over my child?
  4. Parental Child Abuse in Custody Cases
  5. Relocate with minor child. Parent Refusing Consent for a Passport
  6. Father being refused contact to his child! What are his rights as a Father?
  7. Father’s Parental Responsibilities and Rights to his Child
  8. Urgent Access to your Children without a Lawyer
  9. Parenting Plans and the Law
  10. What happens in a custody dispute where one parent is mentally ill?
  11. How to win your child custody and access court case – Tips and Tricks
  12. Rights of care, contact and guardianship of grandparents to their grandchildren – What does the law say?

Divorce & Property

  1. How to Change your Matrimonial Property Regime
  2. Do your own Unopposed Divorce. No lawyers needed and its Free.
  3. Parental Rights of Divorced Muslim parents after a Talaq or Faskh
  4. Free Online Divorce Assistance Form – DIY Cape Town South Africa comprising of:

Domestic Violence

  1. I’m in a physically and emotionally abusive relationship. Help from Abuse.
  2. How to make a Domestic Violence Application
 
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Relocation with my minor child to Ireland, Dublin (Consent and Refusal) – Advocate Muhammad Abduroaf

The world is becoming a much smaller place, and technology plays a huge role. People are moving across the world for employment, love and happiness, something that was not the norm a few decades ago. There is no reason why you should remain in South Africa if you can find a better life for yourself and your family overseas. Moving overseas may provide you with the quality of life you want or the possibility of experiencing things you always wanted. The same applies to your child or children relocating with you.

Relocation of your minor child to Dublin, Ireland

If you are single and do not have any minor children, then moving around the world would not be too complicated. All you need to do is ensure that you have the necessary travel documentation and travel ticket (and spending money), and off you go. However, if you want to travel with your minor children (for example, ages nine or ten) or relocate to another country, things may not be that simple. Firstly, if there is another parent, and he or she has parental responsibilities and rights, then his or her consent is required. For example, let us say you live in Graaff-Reinet or Kroonstad, South Africa, and you want to relocate to Dublin, Ireland, you would require the other parent’s consent to leave South Africa with your minor child. This can cause challenges, especially if the staying parent (in South Africa) does not agree to the relocation.

What about Passport Consent to travel or relocate to Dublin, Ireland?

The same applies when it comes to your minor child applying for a South African passport to relocate to Ireland, or any country. Both parents who have parental responsibilities and rights of guardianship will have to consent to the minor child’s passport application as well. In this regard, both parents have to be at the Department of Home Affairs (or the relevant bank that also assists with passport application) when making the Application with the minor child. This can be challenging if you have a disinterested parent who does not want to cooperate with the passport application. As you will see later, legal action would need to be taken.

What are the steps to follow when I want to relocate to Dublin, Ireland with my minor child? There is there another parent.

To simplify the process for relocation, the first step would be to receive the other parent’s consent in principle for the relocation and that he or she will co-operate in this regard. Once that has been resolved, the parent relocating would need to make the appointment for the minor child’s passport application as well as the application for the relevant VISA. Each country has different requirements; however, seeing that it is a relocation, you need to apply for the correct VISA. For that, you need the Passport. Once the visa and travel arrangements have been finalised, the parent remaining behind will sign a parental consent letter for the international travel. That letter can be found on the Department of Home Affairs website. Basically, the parent remaining behind would state that he or she gives consent for the minor child to leave the Republic of South Africa and travel and/or relocate to Dublin, Ireland.

What can I do if the other parent does not want to consent to the minor child’s relocation to Dublin, Ireland?

If the parent remaining in South Africa does not want to consent to the minor child’s passport application and/or his or her relocation to Dublin, Ireland, then you would need to approach the Court. The Court, as upper guardian of the minor child, may order that the parent’s consent for the passport application and relocation be dispensed with. What this entails is submitting Court documents explaining why you want to relocate to Dublin, Ireland. The other parent would also have an opportunity to give reasons why he or she objects. At the end of the process, the Court would determine what is in the minor child’s best interests. If it is in the minor child’s best interests to relocate to Dublin, Ireland, the Court would make it possible despite the issue of consent or refusal.

What is the first step I should take if the other parent does not want to consent to the minor child’s passport application and/or relocation to Dublin, Ireland?

If the other parent does not want to consent to the passport application and/or the relocation of the minor child to Dublin, Ireland – in that case, we suggest you approach an attorney or advocate (trust account) to assist you with the legal process. He or she would then contact the other parent explaining the reasons for the relocation and request the necessary consent. If the parent remaining in South Africa does still not agree to the passport application and/or to the relocation to Dublin, Ireland, then the attorney or advocate will proceed to take the matter to court. The legal route can be expensive. However, it is necessary to make the relocation of the minor child possible. You may also attend to the legal process yourself.

Getting legal assistance or help with your relocation application to Dublin, Ireland

If you require legal assistance or representation with relocating to Dublin, Ireland due to the other parent not cooperating or providing consent, then feel free to contact us for assistance. The Firm Advocate, Muhammad Abduroaf, deals with these types of matters.

Posted on by Telelaw

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