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A critical analysis of the factors that influence the sustainability of attorney's client protection funds : a Namibian perspectiveDe Klerk, Eben 12 1900 (has links)
Thesis (MBA)--Stellenbosch University, 2005. / ENGLISH ABSTRACT: The cornerstone of the legal profession is the trust harboured by clients when depositing
monies with legal firms. A few regulations usually exist to protect trust monies. In the
absence of a client protection fund, a client has no insurance against theft of trust monies.
Most countries have come to realise the importance of employing a client protection fund to
reimburse victims of theft in order to protect the integrity of the legal profession.
Client protection funds are operated on different business models and a broad overview of the
funds of New York, British Columbia, New Zealand and Botswana indicated that such funds
are not able to compensate all proven claims without enforcing limitations. There is currently
no benchmark whereby client protection funds can assess their effectiveness and
sustainability. A standard for evaluating these funds is created based on the following criteria
common to all funds: the purpose of a fund, the status of a fund, proper management of the
fund, the methods which a fund employs to limit liability, the financial strength and
sustainability of a fund, the rights of a fund where claims are awarded and the preventative
measures employed by a fund.
After evaluation of these funds it became clear that all of them are financially unsustainable if
they were to pay proven claims without imposing limitations on their liability. The Namibian
fund appears to be the most sustainable fund and was also used as the benchmark in one of the
criterion of the evaluation model.
A more critical study of the Namibian fund indicated that it would in future become less
sustainable as the growth rate in trust deposits exceeds the growth rate of the fund's reserves.
After a SWOT analysis it is suggested that the Namibian fund continues its current
preventative measures, as same is likely the reason why an insignificant amount of thefts
occurred over the past 15 years, and should focus on increasing income by negotiating better
agreements with banks and employ a dedicated inspectorate, not only to ensure compliance
with such agreements, but provide the fund with annual reports on each firm's level of
compliance with statutory regulations on trust accounting. / AFRIKAANSE OPSOMMING: Die hoeksteen van die regsprofessie is die vertroue wat kliënte in prokureurs plaas om
trustgeld te bewaar. 'n Basiese stel boekhou regulasies is al wat normaalweg dien as
beskerming van trustgeld. In die afwesigheid van 'n getrouheidsfonds het 'n klient geen
versekering teen diefstal van trustgelde nie. Meeste lande het reeds die waarde van 'n
getrouheidsfonds besef as beskermingsmeganisme van die integriteit van die professie.
Getrouheidsfondse is baseer op verskillende besigheidsmodelle en 'n breë oorsig van die
fondse van New York, British Columbia, New Zealand en Botswana dui daarop dat sulke
fondse nie in staat is om alle eise te vergoed sonder om daadwerklike beperkinge op hul
verpligtinge te plaas nie. Daar bestaan huidiglik geen universele maatstaf waaraan fondse hul
effektiwiteit en volhoubaarheid kan meet nie. 'n Eenvormige evaluasie model is ontwerp wat
gebruik maak van die volgende ooreenstemmende kenmerke van alle fondse: die doel van die
fonds, die status van die fonds, die behoorlike bestuur van die fonds, die metodes wat die
fonds aanwend om verpligtinge te beperk, die finansiële vermoë en volhoubaarheid van die
fonds, die regte van die fonds na betaling van eise en die voorkomende maatreëls wat die
fonds aanwend.
Na evaluasie van die bogenoemde fondse is dit duidelik dat sulke fondse nie finansieel
volhoubaar sal wees as hulle alle goedgekeurde eise ten volle sou uitbetaal sonder die afdwing
van beperkende maatreëls nie. Die Namibiese fonds blyk die mees volhoubare fonds te wees
en word ook as maatstaf gebruik in een van die kriterium van die evaluasie model.
By nadere ondersoek van die Namibiese fonds is vasgestel dat die fonds in die toekoms
minder volhoubaar sal raak omdat die groeikoers in trust deposito's hoër is as die groeikoers
van die reserwes van die fonds. Na 'n SWOT-analise word voorgestel dat die Namibiese
fonds moet volhart in die uitvoering van voorkomende maatreëls en ook inkomste moet
verhoog deur beter ooreenkomste met banke aan te gaan. 'n Toegewyde ondersoek afdeling
sal verseker dat firmas sulke ooreenkomste nakom, asook aan die fonds raporteer oor firmas
se nakoming van statutêre reëls.
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n Teoretiese en praktiese ondersoek na 'n betroubare en toepaslike boedelbeplanningsmodelPretorius, F. J.(Frederik Johannes) 12 1900 (has links)
Thesis (LLM)--University of Stellenbosch, 2004. / ENGLISH ABSTRACT: This study deals with a theoretical and practical investigation of the
subject discipline of estate planning in order to identify a reliable and
appropriate estate planning model. For purposes of this study, the
investigation is restricted to the development of such a model in
respect of a person within the niche of an average salary earner with
the focus on an appropriate financial planning in respect of his death.
An investigation is conducted into the basis from which the
subject emerged and developed. It is determined that this basis is the
method of successionand that it also forms an integral part of any
proposed estate planning. Relevant principles and the methods of
succession which were in force in the Roman, Roman-Dutch and
English law of succession are analysed. Through the historic
development, against the background of these systems, a link is made
to the South African law of successionand the position in terms of the
South African law is determined. The theoretical basis of the subject
discipline is also laid down. The different role players involved are
identified in the process and the proposed estate planning process is
identified and described.
The administration of estates process within the context of the
English law is compared with the same process in the context of the
South African law through a comparative study. This investigation is
limited to those aspects of the administration of estates process
important for purposes of estate planning, especially in view of the influence that the rules of the Englishlaw had on the South African law
in respect of this process.
Practical problems currently experienced by trust companies in
respect of the administration of estates are also identified and
analysed. These problems also indicate the need for the identification
of a reliable and appropriate estate planning model.
The identification of an appropriate estate analysis model is
identified as an essential control mechanism for the proposed estate
planning model. This model is furthermore expanded in order to point
out the problem areas in respect of different scenarios with a
determined conventional family construction as the basis for the
analysis.
Available estate planning instruments and techniques are
identified as aids in order to facilitate the testator's estate plan by
virtue of the proposed estate planning model. Testamentary
mechanisms are distinguished from inter vivos mechanisms and
applicable legislation is discussed.
A reliable and appropriate estate planning model is identified,
bearing in mind the results of the researchconducted.
This study is concluded with an adjudication and consolidation
of the results of the research with a special reference to the
implementation phase of an estate plan and the frequent revision
thereof. / AFRIKAANSE OPSOMMING: Hierdie studie handeloor 'n teoretiese en praktiese ondersoek van die
vakdissipline boedelbeplanning met die oog daarop om 'n betroubare
en toepaslike boedelbeplanningsmodel te identifiseer. Die ondersoek
word vir doeleindes van hierdie studie beperk en afgebaken tot die
ontwikkeling van so 'n model vir 'n persoon wat homself in die nis van
die gemiddelde salaristrekker bevind met die fokus op 'n toepaslike
finansiële beplanning vir die intrede van dié se dood.
Daar word ondersoek ingestel na die basis waaruit dié
vakdissipline ontstaan en ontwikkel het. Daar is gevind dat die metode
van erfopvolging daardie basis uitmaak en ook 'n integrale deel vorm
van enige boedelbeplanningwat onderneem word. Relevante beginsels
en die metodes van erfopvolging soos dit in die Romeinse, Romeins-
Hollandse en Engelse erfreg gegeld het, word ontleed. Met die
historiese ontwikkeling in hierdie stelsels as agtergrond, word daar by
die Suid-Afrikaanse erfreg aangesluit en die posisie volgens die Suid-
Afrikaanse reg bepaal. Die teoretiese grondslag van die vakdissipline
word ook vasgelê. Die verskillende rolspelers betrokke by die
voorgestelde boedelbeplanningsproses word geïdentifiseer en die
voorgestelde boedelbeplanningsprosesword beskryf.
Die boedelberedderingsprosesword ook binne die konteks van
die Engelse reg met dié proses binne die konteks van die Suid-
Afrikaanse reg deur 'n regsvergelykende studie vergelyk. Hierdie
ondersoek word ook beperk tot daardie aspekte van die beredderingsproses wat vir doeleindes van boedelbeplanning van
belang is, juis in die lig van die invloed van die Engelsregtelike reëls op
die Suid-Afrikaanse reg ten aansien van gemelde proses.
Praktiese probleme wat tans tydens die beredderingsproses van
bestorwe boedels deur trustmaatskappye ervaar word, word ook
geïdentifiseer en ontleed. Hierdie probleme ondersteun ook die
behoefte aan die identifisering van 'n betroubare en toepaslike
boedelbeplanningsmodel.
Die identifisering van 'n toepaslike boedelontledingsmodel word
aangetoon as 'n onontbeerlike kontrolemeganisme van die
voorgestelde boedelbeplanningsmodel. Hierdie ontledingsmodel word
ook uitgebrei om probleemareas ten aansien van verskillende
scenario's uit te wys met 'n bepaalde konvensionele gesinskonstruksie
as die basis vir die ontledingsmodel.
Beskikbare boedelbeplanningsinstrumente en -tegnieke word
geïdentifiseer as hulpmiddels om die erflater se toepaslike boedelplan
ingevolge die struktuur van die voorgestelde boedelbeplanningsmodel
te fasiliteer. Testamentêre meganismes word van inter vivos
meganismes onderskei en toepaslike wetgewing word ook bespreek.
Na aanleiding van die resultate van hierdie navorsing word 'n
betroubare en toepaslike boedelbeplanningsmodel geïdentifiseer.
Die studie word afgesluit met 'n beoordeling en samevatting van
die resultate van die navorsing met 'n spesifieke verwysing na die implementeringsfase van 'n boedelplan en die gereelde hersiening
daarvan.
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Die geskiedenis van die trustmaatskappye en eksekuteurskamers van Boland Bank Beperk tot 1971Ehlers, Anton. 03 1900 (has links)
Dissertation (PhD)--Stellenbosch University, 2002. / ENGLISH ABSTRACT: The history of the trust companies and boards of executors of Boland Bank Limited
represents a case study of the process through which these rural institutions, as part of
the broader trust movement in South Africa, established themselves as an integral and
respected part of the local financial and social structure of the communities in which
they operated. It also represents a case study of the pressures to which these local
rural trust companies were subjected by the changing South African financial
environment of the 20th century and of the way they reacted to absorb and counter
these pressures. Their reactions and counter-measures were attempts, on the one hand,
to hold on to and promote, and on the other hand, to get rid of and discard their pasts.
The history of Boland Bank Limited to 1971 represents a case study of the trials and
tnbulations; the successes and failures of this process.
Paarl African Trust Company Limited (PAT) and African Mutual Trust and
Assurance Company Limited (AMT), the two leading role players in the
establishment of Boland Bank Limited, was founded in 1900 as a result of the anti-
British feelings generated among a section of the Afrikaners in the Cape Colony
during the Anglo Boer War. These feelings of nationalism manifested in the
Afrikaners' aspiration towards greater economic self-reliance which in the case of
PAT and AMT led to the establishment of two Afrikaner-controlled local rural trust
companies. These two institutions laid the foundation of a mainly Cape based
tradition oflocal rural trust companies with a predominantly Afrikaans character.
In the first half of the 20th century these institutions established themselves as
dynamic local rural financial institutions serving the financial needs of the
predominantly agricultural economies in which they functioned. As an integral part
of their local communities, they were respected as stabilizing economic and social
agents, -a respect demonstrated by the local inhabitants refering to these institutions
as "my Kamer" (my Board).
The changed nature of the economic system and climate of the post war (Second
World War) period in tandem with the tendency towards stricter state control over the
monetary and financial system and institutions, pressurized small local :financial institutions like trust companies and boards of executors to show a profit. In this
regard PAT and AMT were no exception and together with other similar trust
companies were in danger of becoming outdated financialnational monuments.
Against this background PAT and AMT took the lead in the early sixties in a
successful amalgamation initiative which eventually culminated in the formation of
Boland Bank Limited. This process included 17 institutions of which 16 were local
rural trust companies and boards of executors and created the potential for regaining
their lost dynamic nature. These dynamics would eventually carry them into the 21st
century. / AFRIKAANSE OPSOMMING: Die geskiedenis van die trustmaatskappye en eksekuteurskamers van Boland Bank
Beperk verteenwoordig 'n gevallestudie van die proses waardeur die plattelandse
instellings as deel van die breer trustbeweging in Suid-Afrika hulself as 'n integrale
en gerespekteerde deel van die plaaslike finansiele en sosiale struktuur van die
gemeenskappe waarbinne hulle opgetree het, gevestig het. Dit verteenwoordig ook 'n
gevallestudie van die druk waaraan die veranderende Suid-Afrikaanse finansiele
omgewing van die 20ste eeu die plaaslike plattelandse trustmaatskappye onderwerp
het en die wyse waarop hulle gereageer het in 'n poging om die druk te absorbeer en
te opponeer. Hulle reaksies en teenmaatreels was 'n mengsel van pogings om
enersyds die status quo ten opsigte van hulle manier van dink en doen te handhaaf en
andersyds dit te verwerp of van ontslae te raak. Die geskiedenis van Boland Bank tot
1971 verteenwoordig 'n gevallestudie van die ervaringe en wedervaringe, die
suksesse en ook die mislukkings van die proses.
Paarl African Trust Company Limited (PAT) en die African Mutual Trust and
Assurance Company Limited (AMT) , die twee hoofspelers in die daarstelling van
Boland Bank Beperk, is in 1900 gestig as die resultaat van die anti-Britse gevoel wat
deur die Anglo-Boereoorlog onder 'n deel van die Afrikaners in die Kaapkolonie
gegenereer is. Hierdie gevoel van nasionalisme het gemanifesteer in die Afrikaners se
strewe na groter ekonomiese selfstandigheid wat in die geval van PAT en AMT gelei
het tot die stigting van twee Afrikanerbeheerde plaaslike plattelandse
trustmaatskappye. Die twee instellings het die grondslag van 'n hoofsaaklik Kaaps
gebaseerde tradisie van plaaslike plattelandse trustmaatskappye en eksekuteurskamers
met 'n oorwegende Afrikaanse karakter gele.
In die eerste helfte van die 20ste eeu het die instellings hulself as dinamiese plaaslike
plattelandse finansiele instellings gevestig, wat voorsien het in die finansiele
behoeftes van die oorheersend primere landbou-ekonomie waarbinne hulle
gefunksioneer het. As 'n integrale deel van hulle plaaslike gemeenskappe is bulle as
stabiliserende ekonomiese en sosiale agente gerespekteer. Dit was 'n respek wat
gedemonstreer is deur die plaaslike inwoners se verwysing na die instellings as "my
Kamer". Die veranderde aard van die ekonomiese stelsel en klimaat van die naoorlogse
(Tweede Wereldoorlog) periode in tandem met die tendens van strenger staatsbeheer
oor die monetere en finansiele stelsel en instellings het druk geplaas op die
windsgewendheid van klein plaaslike finansiele instellings soos trustmaatskappye en
eksekuteurskamers. In die verband was PAT en AMT geen uitsondering nie en het
hulIe saam met ander soortgelyke trustmaatskappye die gevaar geloop om oudmodiese
finansiele nasionale monumente te word.
Teen hierdie agtergrond het PAT en AMT in die vroee sestigerjare die leiding geneem
in 'n suksesvolle amalgamasie-inisiatief wat uiteindelik in die stigting van Boland
Bank Beperk gekulmineer het. In die proses is 17 instellings, waarvan 16 plaaslike
plattelandse trustmaatskappye en eksekuteurskamers was, ingesluit en daardeur die
potensiaal geskep om hulle verlore dinamika te herwin, Dit was 'n dinamika wat
hulle uiteindelik tot in die 21ste eeu sou dra.
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Towards a European ius commune - what lessons can we learn from Quebec's mixed legal system?Van Hedel, Johanna Henrïette January 2004 (has links)
No description available.
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The influence and effect of s 7 (the 'deemed income' provisions), s 25B and the donations tax provisions of the Income Tax Act, and the relevant provisions of the Transfer Duty Act, the Value Added Tax Act and the Estate Duty Act, on the establishment, utilisation and dissolution of testamentary and inter vivos trusts.Burne, Warren. January 1999 (has links)
The aim of this technical report is to serve as a handy expose of the relevant provisions of various statutes for attorneys, accountants and other advisors who have to deal with the relevant tax laws affecting the establishment, utilisation and dissolution of trusts. The South African Acts which are the subject of this technical report were promulgated on or before 31 December 1998. They are as follows:
• The Income Tax Act, No. 58 of 1962.
• The Transfer Duty Act, No. 40 of 1949.
• The Value Added Tax Act, No. 89 of 1991.
• The Estate Duty Act, No. 45 of 1955.
The principal South African taxes dealt with in this report are as follows:
• Normal Tax.
• Donations Tax.
• Transfer Duty.
• Value Added Tax.
• Estate Duty. / Thesis (LL.M.)-University of Natal, Durban, 1999.
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Towards a European ius commune - what lessons can we learn from Quebec's mixed legal system?Van Hedel, Johanna Henrïette January 2004 (has links)
We are witness today, within a context of an increasingly integrated European Union, to the making of a new common legal order which is that of the European Community. This new ius commune Europaeum will have to be based on legal foundations that can be adhered to by all member states. In this perspective, it is indispensable to investigate whether domestic legal systems of the member states are able to adopt legal concepts of other member states without undermining their cohesive natures. Only then will it be possible to build the emerging ius commune on a conceptual legal framework, which is not to be perceived as a Fremdkorper in the participating states. The present thesis analyzes how Quebec's civilian jurisdiction adopted the common law concepts of the trust and unconscionability, in order to answer the question whether, and if so how, European civil law jurisdictions may adopt common legal concepts and yet remain cohesive.
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The Business Trust and its role as an entity in the financial environmentNel, Ebenhaeser Cornelis January 2012 (has links)
The trust figure in South Africa has undergone an interesting process of evolution during the last century – from a mere gratuity or private tax evasion tool to a proper family protection, business entity, investment, and structured finance vehicle. Its flexibility and multi-functionality positioned the trust as an ideal legal institution for many innovative ideas in the search for holistic business structures, economic empowerment transactions, general estate planning and risk protection initiatives, and ultimately, its application as financial instrument and structured finance entity. The development of both traditional and synthetic securitisation schemes in South Africa has been investigated, with some emphasis on the application of the special purpose institution, which may be in trust form. It is submitted that the application of the trust figure has developed without any significant contribution from the local legislator. A sound legal and regulatory framework is crucial for the creation of a strong future environment for legal and financial vehicles. The question is, however, whether the current South African legal framework for the application of the business trust, and also as a vehicle for financial instruments, is adequately sound and robust in light of the standards set in the international business and financial environment. It is submitted that the hybrid nature of the South African legal landscape is conducive for the development of sound legal systems in an ever-changing legal and economic reality. It is further submitted that in the development of proper legal frameworks, South Africa should position itself particularly in its context as a Southern African developing democracy. The South African trust development is compared with that of some foreign jurisdictions as well as with international conventions and treaties of relevance. Some recommendations for necessary changes are made and it is submitted that such future development of the trust figure should not take place haphazardly, but within the context of a structured regulatory model.
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論我國公益信託的監管 :以 "中華人民共和國信託法" 為基礎 = The supervision of public trust in China : based on the PRC Trust Law / Supervision of public trust in China : based on the PRC Trust Law吳一沙 January 2016 (has links)
University of Macau / Faculty of Law
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A case study analysis of the impact of the Davis Tax Committee's First Interim Report on Estate Duty on certain trust and estate planning structures used by South African residentsLoubser, Mari January 2016 (has links)
A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, Johannesburg, in partial fulfilment of the requirements for the degree of Master of Commerce (specialising in Taxation)
Johannesburg, 2016 / The Davis Tax Committee released their First Interim Report on Estate Duty on 13 July 2015 which contained certain recommendations concerning the way trusts should be taxed which were to act as a deterrent against aggressive estate planning. This report also contained suggested changes to current estate duty legislation. Changes to these recommendations, yet to be published in a second report, were discussed in a webinar by Judge Dennis Davis in December 2015 and the 2016 Budget Review contained additional suggestions with regard to the taxation of trusts.
This study constructs case studies to compare the effect of the various recommendations on total taxation and capital preservation in a scenario where assets are held in a South African trust over a period of time, with a scenario where such assets are kept in a South African tax resident’s personal estate. The case studies focus only on high-net-worth trusts and personal estates. The possible double taxation which may occur as a result of levying both estate duty and capital gains tax on death is also briefly considered.
The case study results show the punitive effects of the proposed repeal of the s 4(q) estate duty deduction for inter-spousal bequests on the personal estate scenarios and show how several of the new proposals could result in effective capital tax rates in excess of the deemed maximum capital tax benchmark of 15%. This may result in more aggressive estate planning strategies being employed should such proposals be enacted. The report also concludes that the double taxation effect of both estate duty and capital gains tax levied on death is likely to be small on average, although individual high-net-worth estates may be subject to such double taxation in certain cases.
Key words: Davis Tax Committee’s First Interim Report on Estate Duty, taxation of South African trusts, South African trusts, South African estate duty, estate planning, double taxation on death, estimate for total capital gains tax collected on death, high-net-worth individuals, inequality in South Africa, wealth tax in South Africa, total taxation in South African trusts, income-splitting in South African trusts, capital preservation in South African trusts, South African trust case study, South African estate duty case study, South African estate planning case study / MT2017
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中國大陸家事信託法律問題研究 = Study on the legal issues of family trust in China Mainland / Study on the legal issues of family trust in China Mainland張阿林 January 2018 (has links)
University of Macau / Faculty of Law
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