Should trust assets in the instance of a divorce be included in the estate of a spouse?
~ Written by Phia van der Spuy ~
May 19th, 2018
Trusts are excellent asset protection, succession planning and estate duty planning vehicles, but to enjoy protection from a spouse, creditors and the South African Revenue Service (Sars), the trust must be properly drawn up; the trust deed must contain no pitfalls; and the minutes, resolutions, administration, accounting and tax affairs of the trust must be in order. It is important that the trust is seen to be legally and factually independent from all individuals (including yourself) if the assets held within the trust are to be protected while you are happily married.