An Inter Vivos Trust is the most effective form of estate planning in the sense that on the one hand a separation of legal ownership and administrative control occurs and on the other hand a separation of beneficial ownership occurs.
Below are a few ABC’s pertaining to the establishment of a Trust:
How is a Trust created?
Step one is to consult a Legal Practitioner to ascertain whether the establishment of a Trust would be suitable for you.
Secondly if it is appropriate, a Trust Deed Agreement will be drawn up, as this is the foundation for the establishment of the Trust.
Once the requirements which are set by the Master of the High Court are met, the Deed is registered with the Master and the Master then issues the formal Letter of Appointment which enables the Trustees to act.
There are certain key features which are fundamental to the establishment of a Trust:
The advantages of creating an Inter Vivos Trust:
A Trust can be employed for the benefit of someone who is either physically or mentally disabled or who is under the age of 18.
The administration of a Vivos Trust:
Meyer de Waal & acknowledgement to Schoeman attorneys