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

If it wasn’t for the Master of the High Court, it would be easy. Here’s how it’s done (you can follow the links for more information) –

Setting up a family trust is not always easy.

This article briefly explains what to do and what to avoid when forming a family trust.

First thing is to decide on who will be the trustees. (Trustees are individuals or members of a board given control or powers of administration of property in trust with a legal obligation to administer it solely for the purposes specified). It should always be you and an independent professional trustee (accountant or attorney). Independent means not related to you or the beneficiaries. You only need those two, but a third trustee would often be your spouse.

Then decide on the beneficiaries. Always you, usually your spouse and your relations within the first degree of consanguinity (parents, siblings, children) and the decendents of any beneficiary.

The next important part of setting up a trust is the trust deed. This is a contract between a donor (usually you) and the trustees. There are very few specialists in this country who can write a good trust deed (I only know three, myselfJulian Ware and Costa Divaris). I see a lot of copy and paste rubbish and that can only be bad news further down the line.

Then you fill in and sign a few forms, pay a fee of R250 and submit the whole lot to one of the Master’s offices. If you’re lucky, about six weeks later, you’ll receive your Letters of Authority by Registered Post. If you’re unlucky, you’ll get a rejection letter and have to start all over.

If you’re in a hurry, best is to buy a shelf trust and be up and running immediately. Harbour & Associates offer a range of ready-to-buy shelf trusts which will allow you to bypass all the above legal and administrative processes.

Derek Springett, CEO of HArbour & AssociatesNeed expert advice about setting up a trust?

Contact us today or set up a free meeting with our CEO, Derek Springett to discuss your options.
You can also visit our online store to see our list of shelf trusts for sale.


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