GEORGE BUSINESS NEWS - Corné Nunns and Prof Willie van der Westhuizen of Millers Attorneys were invited to attend the Succession and Trust Law Conference in Cape Town on 18 October, hosted by the University of the Western Cape.
The conference is held annually exclusively for the academic profession, with only a selected few individuals from the legal and financial practice attending by way of special invitation.
The papers that were delivered at the conference reflected a number of important issues in contemporary succession and trust law.
Topics that were discussed included the disinheritance of descendants by a testator, the need to amend trust law legislation, cross-border estate planning and the legal position of partners in a permanent cohabitation relationship, to name just a few. Corné delivered a paper highlighting some of the grey areas of the South African Trust Law and the challenges they cause in practice.
These grey areas include (but are not limited to) the following:
- What happens to the trust assets if the trust is found to be invalid or a sham?
- Can the beneficiaries of a trust be changed without affecting the validity of the trust?
- Can trustees differentiate or even discriminate between beneficiaries of a private trust by withholding benefits from them?
- When does the resignation of a trustee legally take effect?
- Is the so-called "independent trustee" really the solution to the problems faced by third parties when dealing with a trust?
In the light of all the uncertainties and grey areas in our trust law system, it is of utmost importance that you consult a legal advisor that specialises in this field of the law.
Contact our specialist team in our Trust Department for all your trust needs.
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