Trust Seminar – 13 to 20 August 2012
This half day seminar, entitled ‘Trust Pitfalls: Yesterday, Today and Tomorrow – a Practical Overview to Identify and Prevent Errors’ will take a close look at the errors most commonly made by trust practitioners and administrators today – and why these occur. Using real life examples, Professor Van Der Westhuizen will cover repairable and non-repairable errors in trust deeds, as well as the most common reasons for trusts being invalidated as a result. Important tips on how to prevent these pitfalls will be shared. In addition, delegates will be updated on major developments that have occurred since the last Trust Seminar was held. All delegates will earn 3.5 verifiable CPD points or hours.
About the seminar:
Most of the errors made in the administration of trusts and trust deeds are either because the trust deed is ignored or due to ignorance of South Africa’s unique trust law system, and practitioners using precedents and clauses foreign to South African trust law. Since the recent increase in capital gains tax, the relevant question still applies – are trusts still worth your while?
In this half-day seminar, in a practical engaging manner and using real life examples, Professor Willie van der Westhuizen will discuss the most common pitfalls that occur in the administration of a trust. He will also cover repairable and non-repairable errors in trust deeds, as well as the most common reasons that these errors can invalidate a trust. Important tips on how to prevent these pitfalls will be shared. In addition, delegates will be updated on major developments in this area since the last Trust Seminar was held.
Whether you are a new or seasoned Trust administrator/practitioner, merely want to check if you are on par with South African Trust Law and how to use the trust - or are only now realising how little you know about Trusts - this will be a morning well spent.
- The latest Tax Law Amendment addresses the controversy regarding the bequest and/or donation of a loan account to a debtor trust in addition to other debtors. Prof Willie van der Westhuizen will deal with this hot off the press issue as well as other important new developments.
- Can a beneficiary act on behalf of a trust?
- What is the age limitation for a special testamentary trust?
- What is the latest case law addressing when a trustee's resignation takes effect?
- When will a trust not be regarded as the alter ego of a person and when is it a sham?
- What are the most common errors made in the drafting of trust deeds and the administration of trusts in South Africa and how can they be repaired or prevented?
- What are the most common errors and practical problems when deciding who the founder of a trust should be and when can the founding act cause invalidity of a trust? If a trust appears to be invalid, what then?
- How effective and ‘independent’ is the ‘independent outsider’ trustee and how does one deal with a conflict of interest with investments and personal interest, etc, as trustee when administering a trust?
- What are the levels of discretion normally given to trustees and how does it affect ‘vesting’ and a ‘bewind’ trust. Are there any limitations on the ‘unlimited’ discretion of trustees and what are the rules when trustees are exercising their discretion?
- What are the requirements for foreign trustees and can a protector play any role in South African trusts?
- When using and defining words such as ‘person’, ‘spouse’, ‘blood relation’, ‘persons related by affinity’ and ‘trust fund’, etc, what are the potential pitfalls to avoid and how do I structure and define the beneficiaries in a trust deed to provide them with the maximum protection?
- What are the tests applicable to determine control in a trust and when can it be said that a trust becomes the alter ego of a person? When can control have an effect on a person’s estate duty liability and protection of assets and when is it necessary to join a trust/trustee/beneficiary as a party to divorce proceedings?
- Should trustees always act jointly and if not what then? What does ‘the trustees’ common law duty to account to beneficiaries entail?
- What can be regarded as unreasonable discrimination clauses in trust stipulations according to the RSA Constitution? Are all trusts public institutions?
- What are the most common problems regarding the appointment of trustees and can a minor be appointed as a trustee? When does the appointment and resignation of a trustee become effective?
- Can trustees really not be authorised retrospectively by the Master of the High Court?
- Can a trustee be exempt from liability in the trust deed and what are the rights of beneficiaries?
- What are all the requirements for the variation of trust deeds without falling into the stipulation alteri and invalidity trap and what are the implications since the recent Potgieter-case?
- Are trusts still worth the while since the recent Capital Gains Tax rate increase and what are the CGT implications for ‘special’ trusts, property transfers, loan accounts, etc?
- What is the future holding for trusts and what are the opportunities with trusts and where is Government intervention likely (and necessary)?
Professor Willie van der Westhuizen is a regular speaker at seminars and conferences, both local and international. He is a director and practicing attorney at Millers Inc, George and Cape Town, specialising in Trust Law and Holistic Estate Planning.
He also serves as Extraordinary Professor in Private Law at the University of the Free State with specific instruction in Estate Planning Law. He is co-author of Wills and Trusts, a LexisNexis publication and has written and published numerous articles on Trust Law and related topics. For more than a decade and a half he has presented seminars on these topics to lawyers, accountants and other advisers countrywide.
He is a full member of the international Society of Trust and Estate Practitioners (STEP) and as a member of the International Bar Association he has delivered papers at IBA conferences in Strasbourg, New York and Hong Kong on such topics as Restrictions on testamentary freedom, Application possibilities of the trust in South Africa and Business trusts for privately owned businesses in South Africa.
Dates and venues
13 August 2012 – Cape Town, Townhouse Hotel (021-465 7050)
14 August 2012 – Cape Town, Protea Hotel Stellenbosch (021-880 9500)
15 August 2012 – Port Elizabeth, Garden Court Kings Beach (041-582 3720)
16 August 2012 – Johannesburg, Southern Sun OR Tambo (011-977 3600)
17 August 2012 – Pretoria, CSIR Convention Centre (012-841 3884)
20 August 2012 – Durban, Southern Sun Elangeni (031-362 1300)
08h45 First Session
11h30 Second Session
The Fees (VAT Inclusive)
One delegate – R2 000
Two to four delegates from the same company – R1 800 per delegate
Five or more delegates from the same company – R1 000 per delegate