ESTATES AND TRUSTS

ADMINISTRATION OF ESTATES

As an executor, Stabilitas is committed to assist the family on a personal basis and during the traumatic times to ensure:

• The well-being of the spouse and dependents in terms of the conditions of the Estate Act
• The interim arrangements regarding the continuation of any business are put in place
• The effective and speedy reporting of the estate to the Master of the High Court in terms of the conditions of the Estate Act
• The smooth and speedy finalization of the estate in the most cost effective manner
• The involvement of all beneficiaries in such a manner that they are at all times informed regarding the administration process and the progress made
• The protection of estate assets and the interests of all beneficiaries

ADMINISTRATION OF MORTIS CAUSA TRUSTS

As a trustee, Stabilitas is committed to administer the trust in compliance with the Trust Property Control Act and more specifically to, at all times, act with the diligence and care that is expected from a person handling the affairs of another.

True to its fiduciary obligation, Stabilitas will furthermore ensure that all funds are utilized for the sole benefit of the beneficiary(ies) in conjunction with the guardians in order to allow such beneficiary(ies) the best possible maintenance, support, education and material advantages, according to the latter's station in life.

The investment strategy will be subject to:

• Low risk investments with a guaranteed income and the preservation of capital
• Liquidity
• Time horizon
• Taxation
• Compulsory audit

INTER VIVOS TRUSTS

Based on the law of contract the deed should be drafted with care in order to ensure that:

• The rebates referred to in the Transfer Duty Act can be fully utilized
• None of the anti-avoidance sections of either the Income Tax Act or Estate Duty Act can apply
• Discretion of trustees are unfettered in order to avoid vesting of benefits in a beneficiary or his creditors
• The initial estate owner's interests are protected by means of the entrenchment of powers
• Flexibility is guaranteed by including testamentary prerogatives
• A wide choice of beneficiaries are ensured by means of proper definition
• The definition of vesting date is formulated in such a manner that termination is at all times left to the discretion of the trustees
• Amendment of the deed is possible by means of unanimous agreement between the trustees