n Without Prejudice - Warning : trustees should proceed with great care : financial law
|Article Title||Warning : trustees should proceed with great care : financial law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Affiliations||1 Cliffe Dekker Hofmeyr|
|Publication Date||Jun 2011|
|Pages||8 - 9|
It has been said that the great virtue of trusts is their flexibility and relative lack of formality in creation and operation. In part, and for these reasons, trusts are often used for a variety of purposes, from holding and distributing family wealth to protecting business assets in risky ventures. It must be remembered, however, that, unlike corporations, trusts do not have separate legal personalities and must act through their trustees, who themselves must act at all times in the best interests of their beneficiaries and in terms of the trust deed creating the trust.
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