COL 04 – Understanding Trusts
Course Presenter: L. Rautenbach/J-P. Kouwenhoven
Duration: 8 hours
Maximum Attendees: 30
Course Level: Beginners/Intermediate
Costs: (FCS Clients, NIPA, ICAN) Not presented in 2019
Costs: (all others) Not presented in 2019
Aimed at: Trustees; Founders and Beneficiaries of Trusts; Financial Managers and Accountants.
To have a trust has become fashionable – but does it serve it’s purpose? What exactly is a Trust and what needs to be considered? The presentation aims at explaining the different types of trust used most commonly, how a trust is constituted and what are the common pitfalls.
- Types of Trust explained: Testamentary trust, inter vivos trusts, discretionary and endowment trusts, business and special trusts such as bewind trusts.
- When to use a Trust
- The Trust Deed: What it must contain and why ‘generic’ deeds are not recommended;
- The founder, trustee and beneficiary – roles and responsibilities;
- Authority of Trustees and the Turquand rule;
- Resolutions and administration;
- Removal / resignation of Trustees;
- Master of the High Court.