Lets talk about TRUSTS?
What is the purpose of a Trust?
A trust is used to
protect the interests of your dependants while they are unable to do so
themselves. Kruger & Co. can assist you to set up a trust. A trust can own
property, receive donations and inherit money from your estate when you die.
What makes a trust so secure is due to the fact that its decisions are taken by
the trustees whom you appoint when you create the trust. The beneficiaries can
only claim their benefit at the age or time provided in the Trust Deed (or in the event of a Testamentary Trust, in the Will).
Types of Trusts - The two main types of trusts are :
1. An inter vivos trust (a trust between the living or a group of people) for the benefit of selected beneficiaries.
2. A testamentary trust (stipulation/provision in a will) for the benefit of the testator’s selected heirs.
Legal requirements for a valid trust
There are processes
and strict requirements involved with creating and managing a trust and
trustees. We can guide you
and/or your appointed trustees to ensure matters are handled in terms of
prevailing best practice.