Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Search Products
Filter by Categories
Company Secretarial
General Business
General Interest
Investing in Property
Personal Growth
Personal Wealth
Trusts and Estate Planning

I guess the first question is why would you want to? I can’t think of many good reasons, but these are thoughts that come to mind –

  • Your trust is registered as a taxpayer and you’ve read my book “16 Steps to Wealth”.  Now you know that you were ill advised and prefer a trust that is not registered.
  • Your trust doesn’t actually exist, because the initial cash donation was never made or banked. Now you want a valid trust.
  • You have a messed up structure in the old trust and can’t figure out a way to clean it up.
  • Your trust deed was “drafted” (read copied and pasted) by an attorney. You’ve read my book “16 Steps to Wealth” and realise that it is a load of rubbish. You want a clean trust with a clean, well drafted trust deed.

The last of the above can now be resolved simply by submitting a replacement trust deed to the Master’s office, so we can skip that one.

OK, so now we have three reasons to form a new trust and move all the assets over.

Step 1. Make the new trust and possible new companies that it owns beneficiaries of the old trust. This requires the consent of the founder and all the trustees.

Step 2. Distribute all the assets to the new beneficiaries, tidying up the old structure as you go. There may be taxes such as CGT  or Transfer Duty involved.

Step 3. Ignore the old trust and don’t bother to submit any more tax returns. The trust will simply gather dust in the Master’s office. SARS may beat a few drums, but that’s what SARS does, and it’s a waste of time.


XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Looking for even more informative content? Check out the books I have written which have proved to be very popular.

Need help with your Trust or Business?

Contact us today or set up a free meeting with our CEO, Derek Springett. We have been offering expert advice and business services since 1971. You can also view see our full list of services.

Do you want to leave your cart?

Your cart is awaiting your next purchase, so please proceed to the Home page and continue shopping. If you are leaving your cart because of problems, why not give us a call on our 24 hr numbers 063 866 8928 or 011 805 0030 (subject to load shedding)? If all else fails, call Derek, our CEO on 082 552 9696. We’ll do what we can to help