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Trusts and Estate Planning

Here are some Do’s –

  • If we didn’t form your trust, then it was probably formed with a donation of R100. You MUST open a bank account and deposit that R100, otherwise your trust was not actually formed.
  • Keep a copy of the first bank statement on file.
  • Once the R100 has been used up in bank charges, close the bank account. You don’t need it.
  • If we didn’t form your trust, then the trustees are probably required, in terms of the Trust Deed, to hold annual meetings. Make sure that they do and that minutes are kept. Otherwise they are in contempt of the Trust Deed and the trust could be deemed to be a sham.
  • If we didn’t form your trust, check the trust deed to see if the trustees have any other obligations and, if so, make sure that they fulfill them. Otherwise they are in contempt of the Trust Deed and the trust could be deemed to be a sham.
  • If we didn’t form your trust, make sure that you prepare a new Will, incorporating anything mentioned in the Trust Deed, such as appointment of succeeding trustees.
  • Remember to donate R100 000 on loan account each tax year to the investment company that the trust owns, or, if it doesn’t own a company, then donate to the trust itself.
  • If you have a spouse, then the spouse should make a similar donation.
  • The trust must be registered for income Tax even though it will never earn taxable income.

Here are some Don’ts –

  • Don’t allow the trust to own anything except shares in companies and non-income earning assets.

If we formed your trust, there’s only one Do –

  • Relax. We’ve taken care of everything.


  1. I think our trust is a sham. Where do we start to correct the mistakes that were made when forming it?

    1. Hi Xoliswa,
      You’re not alone. Most trusts would fail if attorneys were smart enough to know how to pull them to bits.
      It could be an easy fix or it could require an amendment to the trust deed. The advantage of the amendment is that we could then make it a legacy trust which preserves your legacy generation after generation.
      But we have to take a look. Here’s what I want you to do –
      1) Send me the trust deed
      2) Tell me why you think it’s a shame
      3) Book a no charge Zoom or Google Meet meeting with me via
      4) Go to and read the sample of my online book 16 Steps to Wealth. The Prologue deals with legacy trusts. If you decide to subscribe to the rest of the book, Step 6 is entitled “What can go wrong with a trust deed”

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