Law of Trusts
SB Lawyers, Experts in South African Trust Law:
The law firm was established by Daniel Schoeman on June 1, 1997. It celebrated its 26th anniversary on June 1, 2023, and aims to celebrate its half-century anniversary in the future.
Daniel established the firm with practice areas that mainly consisted of family law and commercial/banking law. He had previous experience as a legal practitioner in Johannesburg and served a commercial bank for nearly a decade. During his time at the commercial bank, he was involved in the merger of several banks and assisted the newly established bank’s human resources department on labour issues, for which he was specially trained at UNISA. Following the establishment of the firm, Daniel expanded his knowledge of general labour law by qualifying with the post-graduate Advanced Certificate in Labour Law from the University of Pretoria in early 2000.
The firm expanded with the addition of Yolandie Borman in 2005. She is currently the director of the Family and Child Law division and co-director of the Labour Law division of the firm. Yolandie has also since qualified with the post-graduate certificate in Advanced Labour Law from the University of Pretoria.
At SB Lawyers, we specialise in Trust Law, providing expert legal services to help you protect and manage your assets for the benefit of your loved ones.
Our highly qualified team brings years of experience to the complexities of trust law in South Africa. Guided by our core values of integrity, professionalism, and client-focused solutions, we are passionate about assisting you in securing your trust.
SB Lawyers in The Trust Law Environment
Trusts are utilised for various lawful purposes, such as estate planning, asset protection from creditors, hedging against currency devaluation and political uncertainty, providing for children’s financial future, or serving as a vehicle for overseas retirement funds.
According to South African law, for a trust to be valid, it must have five characteristics:
- The founder must genuinely intend to create a trust and cannot retain ultimate power and control over the trust.
- The founder must intend to create a trust that imposes a legal obligation on the trustees to manage the trust object through a will, contract, or trust deed.
- The subject matter of the trust must be reasonably definable.
- The objective of the trust must be reasonably definable and legal.
- The objective of the trust must not be illegal.
In South African law, a trust is considered a unique legal arrangement that does not possess legal personality. This means that the trustee holds only bare ownership of the trust assets, which are not part of the trustee’s estate. The South African Revenue Service (SARS) recognises trustees as holders of the ownership of the trust assets in a fiduciary capacity. Therefore, trusts are required to file their income taxes through the trustees as the representative taxpayers.
Our Expertise in Law of Trusts
Establishment of Trusts:
Assisting in creating various types of trusts, including inter vivos and testamentary trusts, to suit your estate planning needs.
Structuring, Classification and Administration:
Advising on the most suitable trust structures. Providing ongoing support in the administration and management of trusts to ensure compliance with the Trust Property Control Act and other relevant legislation.
Asset Protection and Estate Planning
Utilising trusts for asset protection and effective estate planning to safeguard your assets for future generations.
Why Choose SB Lawyers?
We know our craft
We have duly illustrated our experience in the specialities in which we practice.
Resourceful
We have access to all legal resources.
Reasonable & Cost Effective
We strive to render legal solutions on a cost-effective basis and within a reasonable time framework, depending on the approach adopted by clients and opposing parties.
Diverse Client Base
We serve all communities, languages and cultures and respect the individual.
Let us provide you with a legal solution
Request An Appointment
Address : L0-T1, Ground Floor, North Wing, Riverwalk Office Park, Garsfontein Road, Ashlea Gardens, Pretoria.
Office Number : 012 346 8606
Daniël Schoeman: 083 268 4788
Yolandie Borman: 084 401 0336
Email : sbattorneys@www.sblawyers.co.za
Business Hours:
Monday to Thursday: 08:00 – 16:30
Fridays: 08:00 – 15:00