Podcast
Questions and Answers
What is required for a testamentary trust to be created?
What is required for a testamentary trust to be created?
- Valid execution of a will in compliance with formalities prescribed by the Wills Act (correct)
- Confirmation from the Master of the High Court
- Consultation with the litigants
- Creation through a court order
Under what circumstances can a court create a trust by court order?
Under what circumstances can a court create a trust by court order?
- When the trust instrument is presented to the court
- When the litigants request or agree to the creation of a trust (correct)
- When the Master of the High Court demands it
- When consulting with the Master causes delays
In what context can a trust be established through a court order?
In what context can a trust be established through a court order?
- To settle a matrimonial dispute regarding maintenance or divorce settlements (correct)
- To fulfill statutory requirements
- To consult with the Master of the High Court
- To delay unnecessary proceedings in court
Which mode of creating a trust is seldom due to an independent court action?
Which mode of creating a trust is seldom due to an independent court action?
How can a trust be created through other trust instruments according to the text?
How can a trust be created through other trust instruments according to the text?
Who can be consulted on the provisions of a trust instrument presented to the court for inclusion in a court order?
Who can be consulted on the provisions of a trust instrument presented to the court for inclusion in a court order?
What is the definition of a 'trustee' according to Section 1 of the Act?
What is the definition of a 'trustee' according to Section 1 of the Act?
According to South African law, what happens if a sole trustee vacates office and the trust instrument is silent on filling the vacancy?
According to South African law, what happens if a sole trustee vacates office and the trust instrument is silent on filling the vacancy?
What distinguishes income beneficiaries from capital beneficiaries in a trust?
What distinguishes income beneficiaries from capital beneficiaries in a trust?
In the context of A's will, what will the surviving spouse receive annually?
In the context of A's will, what will the surviving spouse receive annually?
What happens to a trust if a trustee appointed by the founder resigns?
What happens to a trust if a trustee appointed by the founder resigns?
Who benefits from income like interest, dividends, or rentals in a trust?
Who benefits from income like interest, dividends, or rentals in a trust?
'A trust will not fail for want of a trustee' implies what about trusts?
'A trust will not fail for want of a trustee' implies what about trusts?
What happens if a trust instrument does not specify how to fill a vacancy when a sole trustee resigns?
What happens if a trust instrument does not specify how to fill a vacancy when a sole trustee resigns?
What distinguishes capital beneficiaries from income beneficiaries in a trust?
What distinguishes capital beneficiaries from income beneficiaries in a trust?
What does South African law state about trusts if a trustee vacates office?
What does South African law state about trusts if a trustee vacates office?
