by VDT Attorneys | Sep 7, 2017 | Commercial, Trust
Because of the unique nature of a trust and also the fiduciary responsibility that a trustee holds in respect of the trust property and trust beneficiaries, buying property from a trust, should rightfully be approached with caution where you are also a trustee of the...
by VDT Attorneys | Mar 8, 2017 | Commercial, Company, Estate Planning, Tax, Trust
You are correct. A new Section 7C has been introduced into the Income Tax Act 58 of 1962 as an anti-avoidance provision to discourage the use of trusts for estate planning purposes. Section 7C is effective from 1 March 2017 and will apply to any loans, advances or...
by VDT Attorneys | Oct 13, 2015 | Commercial, Property, Tax, Trust
Interest-free loans are widely used in South Africa. If one transfers property to a trust by way of an interest-free loan, the property no longer forms part of one’s estate, resulting in a potential estate duty saving on your part when the value of the property...
by VDT Attorneys | Aug 6, 2015 | Business, Transfer, Trust
A trust is a valid business form, and the mere presence of a trust should not invalidate a fair transaction. However the words “this case yet again demonstrates the need to be careful when dealing with a trust” are words that have frequently been uttered by our courts...
by VDT Attorneys | Jun 15, 2015 | Divorce, Marriage, Trust
With estate planning becoming more sophisticated more and more trusts are being established. Simultaneously divorces are increasing by around 8.6% per year, escalating the probability of a trust being involved in the case of divorce or distribution of estates. If a...
by VDT Attorneys | Jun 2, 2014 | Trust
It is important to always look at the trust deed first. Often the trust deed determines the actions to be taken as well as the process on how to remove a trustee that does not want to resign. Such a prescribed process must then be followed in the removal of such a...
