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Related South Africa Law Questions
Is it legally binding for a MINORITY 40% beneficiary of a
Is it legally binding for a MINORITY 40% beneficiary of a PROPERTY OWNING TRUST to GIVE VERBAL INSTRUCTIONS to 2 Trustees (newly appointed) as to what they must do with the remaining 60% beneficial en… read more
CaseLaw
CaseLaw
Attorney
Master's Degree
2,330 satisfied customers
Dear Pearl, I live in Limpopo. We have been banking all our
I live in Limpopo. We have been banking all our lives with FNB and my ex husband and I are now 76 and 69 respectively. We have numerous accounts with them as well as my children. My problem lies with a Trust Account where my ex husband and I are the trustees and my children the beneficiaries. When I divorced him on the grounds of abuse and infidelity, he was a bit short of money to buy some machinery he wanted and he raided the Trust account at FNB and closed the account. The bank was at fault for allowing this transaction to take place without my knowledge or signature. I and my ex-husband have on numerous occasions tried to re-open this account so that my ex can replace the money he took but the manager refuses to do this on the grounds that the bank never had a Trust account of that name in the first place even though this trust account has been operative for many years and I have audited bank statements and cheque books since 2004 I think (that is the oldest cheque book I have in my possession) The Trust was formed in 1981 so it does not have that Letter of Authority which became a requisite in later years and up to this point it has not been a problem and the Trust has bought and sold properties and has investments of approximately R8 million without that Letter of Authority and the bank manager says he cannot accept the Trust documents because of the lack of the Letter of Authority. This is a lie because my ex husband's brother had a Trust drawn up at the same time when the two brothers inherited from their father and there is no problem with his Trust document and account. The bank manager says we have to go to the High Court to get that Letter of Authority before he can open an account in the Trust's name. He is basing his claim that the Bank has never had an account in the name of Dennis Drury Trust which is splitting hairs because there definitely was an account in the name of Dennis H.H. Drury Trust which has now been closed and an account bearing the same number but with the name of Dennis H.H. Drury exists with just the word "Trust" left off which gives my ex sole access to the money in that account which really belongs to the Trust. … read more
CaseLaw
CaseLaw
Attorney
Master's Degree
2,330 satisfied customers
We are married in community of property. We have a trust fund
We are married in community of property. We have a trust fund in place. We have a farm and want to transfer to the trust. My husband is the executor of the trust fund. How do we go about transferring … read more
Freddie Lombard
Freddie Lombard
Attorney
Bachelor's Degree
3,697 satisfied customers
My mom who lives with us, is 89 years old. My father passed away in 2013. The house they j
My mom who lives with us, is 89 years old. My father passed away in 2013. The house they jointly owned is now solely in her name. My sister and I are the heirs of the estate. What would be the best so… read more
Mike Otis
Mike Otis
Legal Advisor
Master's Degree
2,094 satisfied customers
We are usa residents. Our father, a South African resident
We are usa residents. Our father, a South African resident nominated us trustee of a trust to be set up at his death. The interest to go to his companion, the capital to us at her death or marriage. i… read more
WCLawyer
WCLawyer
Attorney
Bachelor's Degree
9,007 satisfied customers
I inherited a farm via a trust created at the death of my father
I inherited a farm via a trust created at the death of my father because I was a minor at the time. The trustee did not transfer it to my name when I turned 21. 5 years later he now wants me to pay 22… read more
Freddie Lombard
Freddie Lombard
Attorney
Bachelor's Degree
3,697 satisfied customers
Can the Estate Duty payment be deferred on the death of the
Can the Estate Duty payment be deferred on the death of the first dying spouse if the assets of the first dying are paid into a Testamentary Trust with the spouse being the sole beneficiary?… read more
WCLawyer
WCLawyer
Attorney
Bachelor's Degree
9,007 satisfied customers
Greetings, I would like to know what is the best way of drafting
Greetings, I would like to know what is the best way of drafting a will for a minor? I would appreciate it if you indicate in order of importance the options I have. Thanks Betty… read more
Barend B.
Barend B.
Legal Consultant
Master's Degree
1,364 satisfied customers
I was informed in July 2012 by the attorney of my late fathers
I was informed in July 2012 by the attorney of my late father's estate that his widow had acknowledged me as a descendant, as there was no written will and that the estate is intestate. The attorney i… read more
WCLawyer
WCLawyer
Attorney
Bachelor's Degree
9,007 satisfied customers
Good day sirs, I am a friend of a family who wants to know
Good day sirs, I am a friend of a family who wants to know something regarding trusts: The mother has two daughters. The mother is fairly old and very sick to such an extent that she may pass on any d… read more
CaseLaw
CaseLaw
Attorney
Master's Degree
2,330 satisfied customers
My husband passed away in Feb 2011. We were married in September
My husband passed away in Feb 2011. We were married in September 1977. He obtained a divorce from his previous wife in May 1977 and in the Divorce Settlement Agreement, apart from the financial and ot… read more
WCLawyer
WCLawyer
Attorney
Bachelor's Degree
9,007 satisfied customers
My ex-wife passed away in December and her estate (through
My ex-wife passed away in December and her estate (through her will) has been placed in a testementary trust to help support our three year old son until he reaches his majority. There are two trustee… read more
Mike Otis
Mike Otis
Legal Advisor
Master's Degree
2,094 satisfied customers
My late husband and I established a trust in the late 1980s
My late husband and I established a trust in the late 1980's prior to the law on capital gains tax etc. As a result of the amnesty I took the house - the main asset in the trust - out of the trust and… read more
CaseLaw
CaseLaw
Attorney
Master's Degree
2,330 satisfied customers
When would a Trust(it is audited yearly, has three trustees,brother
When would a Trust(it is audited yearly, has three trustees,brother and sister and myself, who have agreed too and signed all resolutions in regular meetings,has myself and my two children as the beni… read more
Mike Otis
Mike Otis
Legal Advisor
Master's Degree
2,094 satisfied customers
GOOD MORNING COULD YOU KINDLY EXPLAIN I HAVE BEEN MARRIED
GOOD MORNING COULD YOU KINDLY EXPLAIN I HAVE BEEN MARRIED FOR 25 YRS AND REALIZED NO ASSETS ARE IN MY NAME HOWEVER EACH PERSON IN THE FAM HAS A TRUST INCL MYSELF, MY SPOUSE HAS A PERSONAL TRUST AS WEL… read more
WCLawyer
WCLawyer
Attorney
Bachelor's Degree
9,007 satisfied customers
I believe that if a capital gain is distributed from one discretionary
I believe that if a capital gain is distributed from one discretionary trust to another discretionary trust it cannot be on-attributed to the beneficiaries and the 2nd trust is taxable on the gain. If… read more
JP
JP
Bachelor
624 satisfied customers
Hi I have been divorced for 9 years. My ex-husband has not
Hi I have been divorced for 9 years. My ex-husband has not made contact with his son for the last 3 years. I am concerned that should something happen to me he would try and obtain access to my son du… read more
JJ
JJ
Master's Degree
4,502 satisfied customers
Hi I am a widow with a 12 year old. My step-son was appointed
Hi I am a widow with a 12 year old. My step-son was appointed as Executor and Trustee of the Estate. My daughter and my Trust as been placed in step-son's business portfolio Corporate Savings account … read more
JP
JP
Bachelor
624 satisfied customers

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The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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