There is no single trust type that is best for every family. In South Africa, a discretionary inter vivos trust is a commonly used family wealth structure because it allows trustees, within the powers of the trust deed, to decide…

An estate can be solvent but short of cash, or it can be genuinely insolvent. A solvent but illiquid estate has enough overall value to pay its debts but not enough cash. The executor may need to realise assets to…

Where an executor is appointed, distribution follows the Liquidation and Distribution account process under section 35 of the Administration of Estates Act. The executor first identifies and collects the assets, deals with liabilities and tax, and prepares the account. After…

Yes. South African law allows the founder of a trust to be one of its beneficiaries, and the founder may also serve as a trustee if the trust deed permits it. This is common in family trusts. Where the founder…

A family trust can hold a wide range of assets, subject to the trust deed and any law that applies to the particular asset. Common examples include immovable property, listed and unlisted shares, unit trusts and exchange-traded funds, cash and…

Immovable property belonging to a deceased estate must be dealt with through the estate administration process and transferred through the Deeds Office by a conveyancer. If the property is awarded to an heir in the Liquidation and Distribution account, section…

A family trust is the informal term commonly used for a trust established to hold and administer assets for the benefit of members of a family. It is not a separate legal category under South African law. Most family trusts…

There is no prescribed market price for establishing a family trust in South Africa. Professional fees depend on the complexity of the trust deed, the advice required, the number and nature of the parties, and whether the trust forms part…

Yes. A trustee may also be a beneficiary of the same trust. This is common in South African family trusts, where family members may serve as trustees while also being discretionary beneficiaries. There is, however, an important limit at the…

A deceased estate has no separate legal personality at common law. For purposes of administration, the estate’s assets, rights and obligations vest in the executor in the representative sense recognised by South African law. The executor takes custody or control…