A trust is a contract for the benefit of a third party. The person intending to set up the trust (the donor or founder) enters into a contract (a trust deed or will) with an administrator (or trustee) for the benefit of a third party (the beneficiary). A trust is created for various tax or legal reasons and may hold any kind of asset.
Since trusts can be used for many purposes, they are popular estate planning tools. Trusts are often used to:
We charge a minimum fee of R6,000 (VAT exclusive) for the drafting and registration of a trust. Depending on the complexity of the trust and the amount of time spent on drafting, consulting in respect of the trust and attendances to the Master to register same, our fee may increase based on a time/work basis.
Contact us today to get a trust set up.
Once we have received your full instructions, we will draft the trust deed and ancillary documents for registration with the Master as soon as possible. It ordinarily takes 3-4 weeks to register the trust with the Master however we will try to expedite registration.