DOJCD: Master of the High Court

Trusts

The administration of trusts is governed by the provisions of the Trust Property Control Act no 57/1988. There are two types of trust, e.g. an inter-vivos trust and a testamentary trust:

(a) an inter- vivos trust is created between living persons;

(b) a testamentary trust derives from a valid will of a deceased.

The following documents must be lodged in order to enable the Master to register an inter vivos trust and to issue letters of authority to the nominated trustee(s).

Original trust deed or notarial certified copy thereof.
R100, 00 in uncancelled revenue stamps, affixed on the trust document or by impressing stamps by means of a franking machine, approved by the Commissioner for Inland Revenue, on the trust document.
Completed Acceptance of Trusteeship by each trustee.
Bond of security by the trustees - form J344E. ( if required by the Master )
All the requirements listed on form JM21
An undertaking by an Auditor - see paragraph 5.2 on form JM21 (if applicable)

For a testamentary trust only requirements 3 to 5 have to be lodged. There are no fees involved and the deceased's last will serves
as the trust document.

The inter-vivos trust must be registered with the Master in whose area of jurisdiction the greatest portion of the trust assets are situated.
If more than one Master has jurisdiction over the trust assets, the Master in whose office the trust was first registered will continue to
have jurisdiction.

On receipt of all the required documents, the Master may issue the nominated trustees with Letters of Authority, to administer the trust.
No trustee may act as such without the written authority of the Master.

Financial statements must be kept, and, if requested by the Master, must be lodged with him/her, especially when queries regarding the administration of the trust are received by him/her.