Blog

You must have a sound reason for removing a trustee

Category: Lighthouse Blogs | By Chamonie Buys

22 October 2018

Often, we come across a stipulation in a Trust Deed to the effect that a trustee’s office shall be vacated if many of the other trustees request him/her to resign or a stipulation to the effect that the trustees, office shall be vacated if he/she is removed as trustee by most of the other trustees.

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Signing Surety – The Sting’s in the Tail

Category: Lighthouse Blogs | By Lighthouse

11 October 2018

In the beginning…You are totally relaxed. What’s the harm? It’s just bank red tape...

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Attacking a Trust (and defending it)

Category: Lighthouse Blogs | By Lighthouse

25 September 2018

It’s an all-too-common scenario. When you try to recover your money from a debtor, you find that all his/her assets (including the luxury home, holiday house and ocean-going yacht) are held by a family or business trust.

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Precedent Setting Judgment for Muslim Marriages

Category: Lighthouse Blogs | By Lighthouse

12 September 2018

This judgment acknowledges the hardships women in Muslim marriages face, including inadequate legal protection and no automatic access to the courts to protect their rights.

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Should you amend your Will after Divorce?

Category: Fiduciary | By Hayley Pillay

31 August 2018

A bequest to your divorced spouse in your will, which was made prior to your divorce, will not necessarily fall away after divorce.

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Living Will: What are they and do you need one?

Category: Lighthouse Blogs | By Lighthouse

29 August 2018

A Living Will is your personal “advance health care directive”, executed by you before you lose the ability to do so, in which you tell doctors, hospitals and your loved ones what end-of-life medical treatment you do and do not consent to.

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Life Partnerships

Category: Lighthouse Blogs | By Thato Mokone

22 August 2018

Life Partnerships, sometimes referred to as common law marriages, are not recognized as a legal relationship by South African law.

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Property and Trust - Be Careful

Category: Lighthouse Blogs | By Lighthouse

16 August 2018

For most of us, business dealings with trusts are most likely to happen when selling a property to, or buying a property from, a trust. But no matter why or how it happens, have your lawyer check that whoever signs for the trust is fully authorised to do so.

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7 Myths About Making a Will...

Category: Lighthouse Blogs | By Lighthouse

26 July 2018

I’m too young to need a will” Of course, the older you get, the greater your chance of dying from illness or disease. But conversely, the younger you are the higher your risk of sudden violent death.

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Section 7C and its effect on Trusts

Category: Lighthouse Blogs | By Arno Goebel

23 July 2018

Effective 1 March 2017, section 7C put a stop to the well-used technique of shifting value to trusts using interest-free or low-interest loan accounts, which pegged the value of the asset transferred, thus avoiding estate duty on future asset growth.

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Will your ANC Protect Assets on Divorce

Category: Lighthouse Blogs | By Lighthouse

17 July 2018

A Supreme Court of Appeal (SCA) decision below illustrates how essential it is, before getting married, to have your lawyer structure your antenuptial contract (ANC) correctly, and with as much detail as is needed for certainty.

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Beware, nothing lasts forever (not even powers of attorney from your aging parents)

Category: Lighthouse Blogs | By Lighthouse

09 July 2018

If your aging parents have asked you for help with making decisions as to their personal welfare, financial affairs, medical treatment etc, asking them to sign a power of attorney in your favour may be the answer.

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Your Car - Washed, Waxed & stolen. Can you sue?

Category: Lighthouse Blogs | By Lighthouse

03 July 2018

You leave your precious car for a wax and polish at a car wash, and a thief steals it. Can you sue the car wash for the value of your car?

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Do you read online T & C's? You should and Here's why

Category: Company & Commercial | By Lighthouse

26 June 2018

We live in an age of online commerce. We buy and sell pretty much anything you can think of on the Internet, whilst contracting online for everything from an Uber ride to a plumber’s call out has become second nature.

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Trustees: Your Risk of Personal Liability in Property Sales

Category: Trusts | By Lighthouse

19 June 2018

Firstly, a warning to anyone selling or buying property to/from a trust - have your lawyer check upfront that you are adequately protected by the terms of the sale agreement.

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Write your will today! Four good reasons to do it now

Category: Wills | By Lighthouse

14 June 2018

Whether you are young or old, healthy or ailing, wealthy or not-so-wealthy, married or single – you must have a will.

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Appointing an Administrator for a Mentally Incapacitated Individual

Category: Estates | By Chamonie Buys

25 April 2018  |  Fiduciary

There is an easier and more cost effective process to appoint an administrator to administer the affairs of a mentally incapacitated individual ...

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Interest Free or Low Interest Loans to Trusts - Beware the Tax Implications!

Category: Tax | By Judd Reid

24 October 2017  |  Trusts

If you have an interest free loan or low interest loan which is owed to you or your company from a Trust, then you need to pay attention.

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Budget 2017 - How it Affects Trusts

Category: Trusts | By Arno Goebel

23 February 2017  |  Trusts, Tax

The big news is that trusts are now taxed at 45%, up 4% in line with the new top marginal rate for individuals on taxable income in excess of R1.5 million ...

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How Section 7C Affects Loans to Trusts

Category: Tax | By Arno Goebel

12 February 2017  |  trusts, tax

Effective 1 March 2017, section 7C will stop the well-used technique of donating back low interest or interest fee loans to trusts ...

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Business Rescue - a director's duties and personal liability

Category: Company & Commercial | By Neil Riekert

10 January 2017  |  Companies

The restructuring of a company in financial distress may be an attractive option to many a business ...

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Your Trust, the Consumer Protection Act & the National Credit Act

Category: Trusts | By Chamonie Buys

10 October 2016

When trading in a Trust or when applying for a loan from a financial institution, though, you should be mindful ...

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Davis Committee 2nd Interim Report

Category: Tax | By Arno Goebel

29 September 2016  |  tax, estates

The committee released its second interim report on the 24th of August. It is important to stress that these are only recommendations and not law until ...

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New Foreign Asset Amnesty

Category: Tax | By Andre Calitz

09 June 2016  |  Tax

“As the world becomes increasingly globalised and cross-border activities become the norm, tax administrations need to work together..."

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Special Trusts

Category: Trusts | By Chamonie Buys

23 May 2016  |  Trusts, Wills, Estates, Tax

There are two types of special trusts recognised for tax purposes in the Income Tax Act. The first type of Trust is referred to as a Special Type A Trust ...

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Is Your Trust Valid?

Category: Trusts | By Chamonie Buys

08 March 2016  |  Trusts

You instruct a company to prepare and register a Trust and you accept, in good faith, that the Trust is valid. Sadly, it turns out that this was not the case ...

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Co-habitation and the law

Category: Matrimonial | By Hayley Pillay

25 January 2016  |  Wills

I was recently asked by a client to advise on the legal consequences of his “common law marriage”. His “wife” of 15 years had just passed on ...

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Sureties! Beware and Prepare

Category: Trusts | By Judd Reid

09 December 2015  |  Trusts, Property

We were recently asked to explain the implications of waiving the benefit of excussion by a client wanting to stand Surety...

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Obtain authority before signing an offer to purchase

Category: Property Law | By Chamonie Buys

09 October 2015  |  Property, Trusts

In our administration of Trusts we experience too often that a trustee enters into property transactions...

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Know your founder

Category: Trusts | By Chamonie Buys

11 August 2015  |  Estates, Trusts

Trustees are often faced with the challenge of having to locate the Founder (also referred to as the Settlor or

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Whats in a will?

Category: Estates | By Chamonie Buys

11 July 2015  |  Estates, Executors, Wills

Whenever the topic of a Will comes up I am reminded of a quote in a well-known South African case:

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Ask these questions about your Trust

Category: Trusts | By Chamonie Buys

09 July 2015  |  Trusts

We are often approached by trustees of existing inter vivos (living) Trusts for purposes of reviewing the Trusts from a compliance point of view

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Trust Loan to a Company

Category: Trusts | By Arno Goebel

26 May 2015  |  Companies, Dividends, Tax, Trusts

A lot of tax planning is done around loans between companies and trusts and it is important to understand the re-characterisation rules

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Living Wills – The right to die with dignity

Category: Wills | By Hayley Pillay

24 May 2015  |  Wills

In the recent ground breaking case of Advocate Robin Stransham-Ford who was terminally ill from...

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New Trust Tax Return

Category: Tax | By Arno Goebel

25 November 2014  |  Tax, Trusts

The good news is that trusts are here to stay – at least that is what I believe...

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Right of Pre-Emption in a Shareholder Agreement vs Provision in the Will

Category: Wills | By Arno Goebel

10 October 2014  |  Estates, Executors, Law, Shareholders

The right of pre-emption is a contractual arrangement, usually between shareholders...

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New anti-avoidance amendment may render dividends taxable!

Category: Tax | By Arno Goebel

01 October 2014  |  Dividends, Estates, Executors, Law, Trusts

Changes to the tax legislation announced in the Budget-Speech...

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Nominating a Foreign Executor – is this a good idea at all and why?

Category: Wills | By Arno Goebel

01 October 2014  |  Estates, Executors, Shareholders, Trusts

Should you discourage clients from nominating a foreign Executor in their Wills?

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