Quattro News
September 6, 2024
06 September 2024 Good morning There’s nothing like a bit of hype to keep things interesting right up until the week closes and once again we are being told that today’s US jobs report is the most important labour report of the year. This time however these claims are […]
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.
August 19, 2024
The “two Pot System” will change retirement as we know it. The so called Two Pot System will be implemented on 1 September 2024. This is the latest change in terms of retirement reform, and perhaps the single biggest change. This will impact on all individuals who are members of […]
August 19, 2024
What is Gap Cover? How Does It Work and Why Do You Need It? Gap Cover was created to cover the “gap” between what a Medical Scheme pays and what you are responsible for paying for approved hospital admissions. Depending on what Medical Scheme and Option you are on, your […]
July 14, 2022
Personal Motor Vehicle Insurance – Who is covered in an accident? Motor Vehicle Insurance is something every person with a car should have. Although we know we need to have it, when it is time to claim, we may realise we never fully understood the terms and clauses used in […]
July 14, 2022
Getting Personal Motor Vehicle Insurance – What should you include and how to save When investigating which insurer to use to insure your vehicle, we need to compare quotes and we often choose the cheapest. Do you know what you should have included in your insurance and what can be omitted? […]
July 28, 2022
Household Contents Cover and Building Insurance will indemnify you – What happens if your items are Underinsured? When insuring our assets, we often give our insurers the values that we “assume” or “think” we could replace our items for; often underestimating what our items would cost to replace. As we […]
July 29, 2022
What is ‘Household Contents Cover’ and Why Do You Need It? Do you have contents within your home or if you are renting, any items which make somewhere feel like home which you own? When we think of Household Contents Cover, we usually only think of things like our TV […]
August 14, 2022
You own a building and crisis hits! What do you do? In any emergency, please call your relevant insurer’s emergency contact number for assistance. What happens when you have a disaster relating to your building? Building Insurance is there for your peace of mind and is for any person […]
September 8, 2022
Local is Lekker! Time to travel SA but don’t forget these 5 things When going on holiday or travelling, there may have been a few things that you have forgotten since being on lock-down. The below list is a quick reminder to ensure peace of mind whilst travelling. If […]