Latest News & Developments
master of the high court
Judge reduces ‘harsh’ sentence for man caught stealing shoe polish
Nhlakanipho Mtshali's case drew the attention of Judge Robin Mossop, who deemed the initial penalty excessively harsh for the minor offence of shoplifting items worth R170.
Prasa turns to court with ‘tall order’
Rail agency now claims trains can be safely employed for ‘narrower’ purpose
Five Saffas to tee it up at PGA Championship alongside Tiger Woods
The SA contingent will be hoping for a better showing at the year’s second major, after only one player from the Rainbow Nation made the weekend at The Masters at Augusta last month.
Master’s Office clean up ‘long overdue’
Their suspensions emanate from a wide-ranging probe into the financial affairs of the Master’s Office by the Special Investigating Unit (SIU), which started in 2020.
Refurbished Chatsworth Magistrate’s Court to officially open, as construction on Durban High Court continues
The recently refurbished Chatsworth Magistrate’s Court will officially be opened tomorrow.
SIU assessing unlawful approval of Bosasa liquidation
The SIU confirmed that it had received a complaint and that the allegations were still being assessed after Jared was interviewed
Rescue plan for Master’s Office
The Minister’s plan includes increasing the number of matters which must be finalised in four months from 65% to 80%.
Last-minute reprieve: Unisa escapes administration as court grants order against Minister Nzimande
The minister’s decision to place the 150-year-old distant learning institution under administration followed a recommendation by an independent assessment by Professor Themba Mosia in May this year.
Administering a trust – much more complex than before
SA tax authorities have been on their toes since the country was greylisted. It has been tightening and strengthening its laws in order to adhere to the FATF recommendations.
Words on Wealth: Don’t forget your crypto when drafting your will
South Africans are growing their digital wealth. A recent survey by Singapore cryptocurrency exchange TripleA estimated there to be 5. 8 million cryptocurrency owners in South Africa. Of these, 46% each hold more than R10 000 in crypto assets, while 12% own more than R100 000.
Trustworthy: SARS expects ongoing compliance for trusts
At the recent South African Institute of Taxation (Sait) Tax Indaba, trusts were on the agenda again. In conversation, the message of the South African Revenue Service (Sars) was loud and clear – new measures they have put in place are aimed at giving Sars the assurance that trusts are run as separate entities (such as companies) on a real-time basis and not on an ad hoc basis in an attempt to prove compliance.
A will is a must for all to leave as a parting gift to family
According to 2022 statistics from the Master of the High Court of South Africa, more than 70% of South Africans do not have a will and are unaware that this could leave their dependants and families in dire straits when they die. The Financial Sector Conduct Authority (FSCA) is promoting National Wills Week from September 11 to 15, in line with its mandate to empower households and small businesses to be financially resilient. The week is dedicated to increasing awareness of the importance of having a valid will.
Court rules against man’s Covid death will being revoked
The Western Cape High Court has ruled that there was insufficient evidence to show that a man who died in hospital from Covid-19 had intended to revoke his will and write up a new one in which he left everything to a farming trust instead of his three children.
Run on Numbers: The Guardian’s Fund - Gatekeepers found wanting
The Guardian’s Fund (GF) is a statutory trust established in terms of Chapter V of the Administration of Estates Act, 1965. The GF consists of all money received by the Master of the High Court under the Act or any other law or pursuant to an order of a court or any money accepted by the Master in trust for any known or unknown person. The Guardian’s Fund falls outside the statutory definition of a trust in South Africa but appears to fall within a wider, more general sense of the ambit of a trust.
What parents should know about testamentary trusts
Your children could be in for a long wait for benefits if they are dependent on the establishment of a testamentary trust on your death, writes Theoniel McDonald
Trustworthy: Are you pulling your weight as a trustee?
Traditionally, people in a willy-nilly fashion accepted trusteeship, whether it was as a friend or as their client’s accountant, attorney or financial adviser. However, generally speaking, and specifically after the recent legislation changes, one must carefully consider their appointment as trustee of a trust. If you are not in a position or prepared to be actively involved in the management and administration of the trust, you should rather decline acting as trustee or resign if you have been appointed as one.
Cape widow faces loss of home after judge orders Master’s Office to sell property to pay creditors
A Cape Town widow is faced with losing her home after the Western Cape High Court ordered the Master of the High Court to decide on the manner and conditions of the sale of the Hout Bay property to pay her late husband’s creditors.
Trust to Trust: Is the trust still serving a purpose?
For some time, but especially after the recent introduction of tighter measures on South African trusts (similar to measures already introduced in many other countries), estate planners and trustees are (and should be) evaluating whether ‘their’ trusts still serve a purpose. It is a well-known fact that many trusts registered in South Africa were never activated as originally envisaged. Given the fact that many trustees face a penalty of up to R 10 million and/or five years imprisonment, it may be a good time to review the trust. Many trustees have gotten away with labelling trusts as ‘dormant’ trusts in an attempt to excuse themselves from having to comply with trust laws.
LOOK: R94 million Mamelodi Magistrate’s Court project halted for 12 years due to construction mafias
The project was started in 2009 and it should have been completed by 2016, changing the landscape of the township of Mamelodi.
TRUST TO TRUST: Should I resign as trustee, given the new onerous measures?
Given the recent introduction of rather onerous measures applicable to trustees, many are desirous to immediately resign in an attempt to avoid any liability, especially given fines introduced for the first time in the Trust Property Control Act (the Act) of up to R 10 million and/or 5 years imprisonment. Two important aspects have to be addressed when you consider resigning as a trustee – one, what does one have to do to resign, and two, at what date will the resignation be effective?
Estate of disbarred lawyer who took dead client’s money placed under provisional sequestration
A disbarred attorney who withdrew R522 759 from a dead man’s bank account has had his estate placed under provisional sequestration by the Western Cape High Court.
Trust-worthy: Trustees, trust administrators, and accountants brace yourselves
A trustee convicted of any offence as a result of not acting in terms of the amended TPCA laws will be liable to a fine of up to R 10 million, or imprisonment for up to five years, or to both such fine and imprisonment.