Quattro News
October 22, 2024
22 October 2024 Good morning October in a US election year is typically associated with downside moves for stocks as uncertainty leading up to the big event in early November weighs on risk sentiment, but so far that hasn’t been the case this time around. The Rand is […]
October 3, 2024
Quattro Life we can give you certainty against the backdrop of an uncertain world. The certainty of your children continuing at their current schools and aspiring to the same universities even if you are no longer around to provide for them.
October 1, 2024
Business Intelligence isn’t just about making sense of data. It’s about mastering it. Data, when properly interpreted, is a goldmine of opportunity.
September 11, 2024
Medical scheme membership is essential in South Africa. Medical Schemes not only fund and provide access to high-quality healthcare services.
September 11, 2024
Medical scheme membership is essential in South Africa. Medical Schemes not only fund and provide access to high-quality healthcare services.
September 10, 2024
Life is unpredictable. From minor fender benders to unexpected home damages, surprises can come at any time. That’s why having short-term insurance is more than just a smart choice—it’s a necessity.
August 22, 2024
In terms of the Trust Property Control Act 57 of 1988, a trustee can only act on behalf of a trust once authorized by the Master of the High Court. While there is no legislative requirement for the independence of trustees, the Supreme Court of Appeal case Land and Agricultural Bank of South Africa v Parker and Others highlighted the risks of trusts being abused when there is little or no independent oversight of trust assets. As a result, the Court recommended that the Master of the High Court consider the appointment of an independent trustee to ensure a clear separation between the ownership and enjoyment of trust assets.
Following the Parker case, a directive issued by the Chief Master of the High Court on 6 March 2017 requires consideration of appointing an independent trustee for new trusts. Although currently only a directive, this could potentially become a legislative requirement for both new and existing trusts. The independent trustee does not need to be a professional but must be qualified and committed to upholding the trust deed and scrutinizing the actions of other trustees.
For assistance or queries regarding your trust.