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Living trusts are a great way to leave your loved ones property without having to go through the expensive hassle of probate.
On receipt of all the required documents, the Master may issue the nominated trustees with Letters of Authority, to administer the trust.
No trustee may act as such without the written authority of the Master.
For a testamentary trust only requirements 3 to 5 have to be lodged.
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The administration of trusts is governed by the provisions of the Trust Property Control Act no 57/1988. an inter-vivos trust and a testamentary trust: (a) an inter- vivos trust is created between living persons; (b) a testamentary trust derives from a valid will of a deceased.
The following documents must be lodged in order to enable the Master to register an inter vivos trust and to issue letters of authority to the nominated trustee(s).
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