BY MOGALE WILLAM SEKGALA                                                       18 OCTOBER 2022

 

In the generals or wide sense a trust exists when property is held or administered by one person on behalf of another or for some other purpose other than his own benefit.

A trust involves three parties, namely: 

  • The Founder (or Donor), who is the person who creates or establishes the trust. The founder would normally donate assets to the trust in its establishment thereof.
  • The trustee(s): These are the people who administer the trust and they run the day to day business of the trust as per the limits and powers conferred on them by the founder through the trust deed.
  • The beneficiaries: These are the people or organisations who enjoy the benefits of the trust in line with the provisions of the trust deed.

There are generally two ways to create a trust, namely: 

BY: MOGALE SEKGALA                                                                   29 AUGUST 2022

 

A will can be defined as a declaration of what a person wishes to have happen to his or her property after his or her death. 

There are different types of wills, and each type will be briefly discussed below.

SIMPLE/ ORDINARY WILL:

A simple or ordinary will is one that has no special characteristics or features. It simply sets who will receive the assets and name a guardian for any minor children if applicable.

BY: MOGALE SEKGALA                                                                             22 JUNE 2020

 

In South Africa there are three matrimonial property regimes to choose from. The marriage in community of property, out of community of property (outright) and out of community of property with accrual. A person’s marital regime has an effect on his or her estate which effect will differ depending on each regime. It is crucial that one evaluates each option before concluding a marriage. It is also important to remember that traditional marriages are recognised as valid marriages, whether or not they are registered at the Department of Home Affairs.

THE MARRIAGE IN COMMUNITY OF PROPERTY:

By: William Mogale Sekgala                                              7 June 2022

 

WHAT IS ESTATE PLANNING:

 

Estate Planning is a process whereby a person puts in measures (plan) to deal with his or her assets, both in the present and after death. Estate planning can be used to safeguard or preserve one's assets, to grow the estate assets and further ensure that the assets are effectively and beneficially distributed.