by Hannes Pretorius Bock & Bryant AttorneysCan Family Conflict Kibosh a Trust?
When a trust’s founder dies, families often assume that whatever they said they wanted will be honoured, even if the trust deed was never changed to reflect it. A recent Supreme Court of Appeal decision confirms that this is not how trusts work. What governs a trust after the founder’s death is the trust deed itself, not the wishes they expressed at family meetings in their final years.
by Hannes Pretorius Bock & Bryant AttorneysYour Dormant Trust Is Not Invisible to SARS
Trusts remain a valuable estate planning and asset protection tool, but they also carry ongoing compliance obligations. Many trustees assume that a dormant trust with no income, assets, or activity can simply be left alone. SARS has made it clear that inactivity does not remove a trust’s compliance obligations. With penalties now being imposed for outstanding trust returns, dormant trusts may be attracting more attention than their trustees realise.
