Document background
The Living Trust Agreement serves as a fundamental estate planning tool in South Africa, enabling individuals or entities to transfer assets into trust for the benefit of specified beneficiaries. This document is essential when creating an inter vivos trust, which operates during the settlor's lifetime, as opposed to a testamentary trust created through a will. The agreement must comply with South African trust law, particularly the Trust Property Control Act and related legislation, and requires registration with the Master of the High Court. It typically includes detailed provisions for trust administration, trustee powers and duties, beneficiary rights, asset management, and distribution rules. The Living Trust Agreement is particularly useful for asset protection, tax planning, estate planning, and ensuring efficient wealth transfer while maintaining control over assets during the settlor's lifetime.
