Important Short and Long-Term Risks and Benefits

Overview

Trusts are widely considered to be effective planning vehicles that provide several benefits. Considering legislative changes in recent years and court judgments impacting trust law, it is now imperative to consider all the legal and administrative risks affecting trusts. 

In this comprehensive trust series, we will provide a full perspective on the critical legal and governance aspects to be considered by the various parties involved in trusts: The donors, beneficiaries, trustees, financial planners, tax advisors and accountants.

This Trusts Beyond 2021 series consists of four parts (each webinar can be attended independently):

Webinar 1: Trusts: Get the Basics Right

Webinar 2: Trusts: Important Short and Long-Term Risks and Benefits

Webinar 3: Risks for Trustees and Tax Practitioners in Trust Administration

Webinar 4: Specific Tax Risks Related to Trusts

Click here to view the full series.

Webinar content

Trusts: Important Short and Long-Term Risks and Benefits (Part 2) – 9 November 2021

• What are the practical issues that arise when a trust is formed and when assets are put into the trust?
  • Consequences when the initial donation is not made.
  • Documentation required when assets are subsequently put into a trust.
  • Donations or loans? Risks and benefits associated with each.
• Contracts: When are contracts involving a trust void?
• How important is it to identify and properly describe beneficiaries?
  • The risks attached to a testamentary trust.
  • Vested rights vs discretionary rights: Risks and benefits of each.
• What practical issues arise from amendments to a trust?
  • When are amendments invalid?
  • How can a Trust Deed be amended? 
• • Amendment in terms of Law of Contract.
  • Amendment in terms of the Trust Deed.
  • Master’s Directive on Deed of Amendments.
• What are the inescapable consequences when there is a valid trust?
• Sham trust vs alter ego trust:
  • The difference between a sham trust and a alter ego trust.
  • Pointers to avoid an alter ego/sham.

Who should attend?

Tax practitioners, tax managers, financial managers

Presenter

Prof Walter Geach 

Senior Professor, Graduate School of Business, University of KwaZulu-Natal, and Advocate of the High Court of South Africa
BA LLB, MCom, CTA CA(SA)

Prof Geach specialises in taxation, corporate law, trusts, financial accounting, and financial planning, and he is a business consultant and is also a non-executive director of Grindrod Limited. Prof Geach regularly presents seminars throughout South Africa on a wide variety of topics for several professional and business organisations.

He is author of Guide to the Close Corporations Act, Handbook for Executors, Trustees and Curators, Guide to the Companies Act, Capital Gains Tax in South Africa: The Essential Guide, and further co-authored The Financial Advisers Development Series, South African Corporate Business Administration, The South African Financial Planning Handbook, Trusts: Law and Practice and Companies and other business structures.

CPD

This event and successful completion of the online assessment will secure 2 hours verifiable output Tax CPD points per session.

Event Investment

CPD subscribers: Free for all 2021 Tax Practitioner and Tax Accountant CPD subscribers.

Regular price: R495.00

SAIT member: R395.00

Group price (five attendees maximum): R950.00

Payments & Cancellations

• All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.

• Kindly note that should payment not been received 2 days after the event, legal action will be taken

• Proof of payment will be requested at registration, if payment at that point in time has not been reflected on SAIT's bank account.

• Only written notice of cancellation will be recognised.

• Cancellation Conditions:

  • If the cancellation occurs more than 4 working days prior to the event no cancellation fee will be charged.

  • If the cancellation occurs less than 4 working days prior to the event a 100% cancellation fee will apply.

• Delegates who book and fail to attend will be liable for the full event fee.

• SAIT's liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.

• Please click here for the full terms and conditions.