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.

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.

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.

No description available.

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.

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.

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.

University of Macau / Faculty of Law

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

University of Macau / Faculty of Law