Contracting with Trusts – Is a Majority Resolution Valid?
Many of us will either be involved in trusts as trustees or will contract with them as outsiders at one time or another – often in the context of a property transaction.
Beware! As a recent Supreme Court of Appeal decision starkly reminds us, trusts are strange creatures, and you need to tread carefully in dealing with them. We’ll look at questions of whether trustees must always act jointly and unanimously or whether it is enough for a majority of them to sign resolutions and documents. Our punchline is a strong warning note on what to look for when contracting with any trust.
Estate Planning And Wills: A Checklist To Protect Your Family
“Don’t fear death, plan for it” (Anon) Amazingly, here we are in the middle of a deadly pandemic yet still some 70% – 80% of working South Africans are said to have no will in place. That’s crazy for two reasons – Without a will your loved ones are exposed When you die your grieving […]
What Must You Prove to Remove a Trustee?
Trustees are of course supposed to work together to protect and further the interests of their trust and its beneficiaries, but the fact is that on occasion serious disputes can and do arise. If settlement negotiations fail and if there is no alternative but to forcibly remove a trustee our courts have the power to […]