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Cobus Venter owns an upholstery factory and is the founder of the Lux Linen trust. The trust is managed by three trustees, who each receive
Cobus Venter owns an upholstery factory and is the founder of the Lux Linen trust. The trust is managed by three trustees, who each receive a salary for their function as trustees. Cobus s two children are the beneficiaries of the Lux Linen and will inherit the factory in the event of his death. They are also entitled to the profits when they reach the age of years. What type of trust does Cobus have?
Group of answer choices
a Family trust
b Business trust
c Childrens trust
d Testamentary trusts
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