How to register a trust?

Friday, 23 September 2011


How to Register a Trust           
 There are two types of trusts, namely the inter-vivos trust and the testamentary trust. The inter-vivos trust is created between living persons, whereas the testamentary trust is derived from the valid will of a deceased person.
Steps to follow to register an inter-vivos trust
Register the inter-vivos trust at the office of the Master in whose area of jurisdiction the greatest portion of the trust assets is situated. If more than one Master has jurisdiction over the trust assets, final jurisdiction will rest with the Master of the office where the trust was first registered.

           Submit the following documents to the Master:
·         A completed Acceptance of Trusteeship application form for each trustee (to be completed    by the trustee)
·         A completed Bond of Security if required by the Master for each trustee
·         The original trust deed or a copy thereof, certified by a Notary
·         R100 – in the form of either uncancelled revenue stamps affixed to the trust document or a stamp impressed with a franking machine approved by the Commissioner for Inland Revenue
·         An undertaking by an auditor, if applicable 

 Example of Details Needed 

TRUST DETAIL
Name of Trust
FOUNDER
Full name & Surname
Identity Number
Occupation
Physical Address
E-mail Address
TRUSTEES
TRUSTEE 1 Full name & Surname: Identity number: Residential address: Occupation:
TRUSTEE 2 Full name & Surname: Identity number: Residential address: Occupation:
TRUSTEE 3 Full name & Surname: Identity number: Residential address: Occupation:
TRUSTEE 4 Full name & Surname: Identity number: Residential address: Occupation:
In the event of more than four trustees, please e-mail a detailed list with the information of those trustees to info@trusts.za.net
BENEFICIARIES
BENEFICIARY 1 Full name & Surname: Identity number: Residential address: Relationship to Trustee:
BENEFICIARY 2 Full name & Surname: Identity number: Residential address: Relationship to Trustee:
BENEFICIARY 3 Full name & Surname: Identity number: Residential address: Relationship to Trustee:
BENEFICIARY 4 Full name & Surname: Identity number: Residential address: Relationship to Trustee:
In the event of more than four beneficiaries, please e-mail a detailed list with the information of the addition beneficiaries to info@trusts.za.net
DOMICILIUM CITANDI ET EXECUTANDI
Physical address of trust
               
AUDITOR OR BOOKKEEPER
Name of auditor/Bookkeeper
Contact details
E-mail: Phone: Fax: Cell:
Street address
Postal address
BANK DETAILS
Bank Name
Branch
CONTACT PERSON FOR TRUST
Name
Surname
Phone
Fax
Cell
E-mail Address

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