Understanding Power of Attorney in South Africa
Understanding Power of Attorney in South Africa At CA Trust Company, we often receive inquiries about the complexities of power of attorney in South Africa. This legal concept is essential for managing affairs when one is unable to do so personally. Power of attorney allows an individual (the principal) to appoint another person (the agent) […]
Is Your Company Compliant With The New Legislation?
Is Your Company Compliant With The New Legislation? Are you aware that the government has recently enacted new legislation for close corporations and companies that is intended to improve transparency and responsibility concerning beneficial ownership for registered entities? The motivation behind the new legislation is to combat financial crimes such as money laundering and terrorist […]
A Change In The Law…
A Change In The Law… Trustees in South Africa are facing significant changes in their roles and responsibilities. The Trust Property Control Act, which governs trusts, is being updated to provide clearer guidance to trustees. These changes require trustees to act as third-party data providers to the South African Revenue Service (SARS) and the Master […]
Trustees and Directors
Trustees and Directors… In South African law, “fiduciary duties” refer to the legal obligations and responsibilities that a fiduciary owes to their beneficiary or beneficiaries. A fiduciary is a person or entity that is entrusted with the duty to act in the best interests of another person or entity. The most common examples of fiduciaries […]
Trust Abuse
Trust Abuse… A family trust is a legal arrangement where a trustee holds and manages assets on behalf of family members or beneficiaries. The trust is created to protect assets, manage estate planning, and distribute income or capital gains to beneficiaries. The ‘core idea’ of the trust is to separate those in control of the […]
Do your loved ones know what to do if you die?
Do your loved ones know what to do if you die? They are grieving. Spare them more pain… It’s uncomfortable to think about, but… were you to die today, would your loved ones know what to do? Could they find your will, notify the right people to settle matters or plan the funeral you want? […]
Does someone you trust make a good trustee?
Does someone you trust make a good trustee? Is trusting someone enough? When appointing a trustee for your family trust, you might look to your spouse or a friend who you know “has your back”. But you could be unintentionally doing them a disservice. Here’s why: your trustee has to do a lot more than make […]
Estate Liquidity
Estate Liquidity… Do you have enough cash to wind up your estate? A liquid estate may sound like a wine collection, but it actually refers to having enough cash (or assets that can be quickly converted to cash) to cover the costs of winding up your estate. Without enough liquidity, the executor of your estate […]
SARS Filing Season
SARS Filing Season… SARS filing season starts on 1 July 2022 – and it’s a little shorter than last year. Here are the dates to remember: Manual and branch office returns close on 24 October Non-provisional eFiling closes on 24 October. Provisional eFiling closes 23 January Last year SARS “auto-assessed” around 3 million individual taxpayers, […]
Are you protected in your common law marriage?
Are you protected in your common law marriage? Check the law. A true story… A recent case in the Constitutional Court has gained plenty of attention, as a domestic worker fought to inherit from her fiancé. Jane and Anthony met in Cape Town, fell in love, and she moved into his lavish Camps Bay property. […]
