Learn how to draft a solid trust deed, the intricacies of trustee selection, beneficiary nomination and more with Eric Jordaan of crueinvest on MoneyRules with BoitumeloNtsoko. Download the podcast below to learn more. Moneyweb Trust EstatePlanning
Eric Jordaan Profile Follow Mail Living trusts can be highly effective estate planning tools if used appropriately for your circumstances. However, this area of financial planning can be complex and, in order to ensure that your trust is validly formed, it is essential to get the registration process right the first time.Step 1: Be clear on your objectives
The next step is to determine an appropriate name for your trust and, in this regard, you have the freedom to choose any name you deem fit. Remember, your trust will be registered with the Master of the High Court and not with the Registrar of Companies, meaning that you do not need to reserve a name for your trust. As the trust founder, you need to identify exactly which assets will be transferred into a trust and what mechanism for transfer should be used.
Remember also that removing or adding beneficiaries at a later stage is not a simple process, so it is important that you are intentional about choosing your beneficiaries when setting up the trust.
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