WHAT IS THE PURPOSE OF A TRUST ATTORNEY?

A trust is a legal arrangement where one person (the trustee) holds and manages assets on behalf of another person or group of people (the beneficiaries). Trusts are commonly used in South Africa for various purposes, such as estate planning, tax optimization, asset protection, and charitable giving. However, creating and managing a trust can be complex and challenging, especially for non-experts. That’s where a trust attorney comes in.

What is a Trust Attorney?

A trust attorney is a legal professional who specializes in advising and representing clients on trust matters. They have in-depth knowledge and experience in trust law, tax law, estate planning, and other related areas. Trust attorneys can assist clients in creating, modifying, and terminating trusts, as well as resolving trust disputes and administering trusts. They can also provide guidance on the tax implications of trust transactions, and help clients minimize their tax liabilities.

Setting up a Trust

Setting up a trust requires careful consideration and planning. A trust attorney can assist with the process by providing advice on the type of trust that would best suit the client’s needs and drafting the trust deed. The trust deed is a legal document that outlines the terms of the trust, including the powers and duties of the trustee, the rights and obligations of the beneficiaries, and the rules for distributing income or capital.