Requirements for Trust Registration in South Africa.
1. A Minimum of 3 Trustees (Members) – in certain circumstances one needs to be ‘independent’.
2. An Auditor – We can assist*.
*You will need an official Trust Auditor on your Trust Deed, and after your Trust Registration is completed you’ll need specialised ‘Trust Accounting’. We have Trust Accounting Specialists who can assist with all the Accounting Maintenance required for a trust after registration. We will quote you in addition if you require these services.
Trust Registration Advantages
(1) Asset Protection & Tax Advantages.
A trust’s assets are protected within the entity, thus they cannot be attached if you or a Trustee becomes insolvent. In most cases, you will also gain Tax Advantages within the Trust Structure.
(2) Provide for you Family – but still keep your ‘hand on the wheel’.
Trust Registration protects the financial well-being of your dependents, whilst simplifying your estate administration when you are no longer able to do so yourself. Within the trust you can however spell out the rules.
Mnguni Attorney have well experience of Trust Drafting and Trust Registration.
*Standard Family Trusts is sufficient for most of our clients. If you however need a Trust with various special clauses or a Business Trust, our Attorney will have to draft a Custom Trust for you.
Timeframe: 2 + 20 Working Days.
- 2 Days: Draft of Trust Deed.
- 20 Days: Draft & Registration of your Trust Deed.