DEFINITION
A trust is a legal arrangement for the control over property to be transferred to a person or organisation (the trustee) for the benefit of someone else (the beneficiary).
Types of Trusts
There are 2 types of trusts that can be registered.
(1) An inter-vivos trust, which is created between living persons; and
(2) A testamentary trust, which is derived from the valid will of a deceased person.
Information Source:
(1) South African Government
https://www.gov.za/services/legal-matters/registration-trusts
(2) Department of Justice and Constitutional Development – Master of the High Court
https://www.justice.gov.za/master/trust.html
