Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Hello please help me with these questions, in terms of South African Law Phindile Phoswa is a single mom who approaches you for advice. She
Hello please help me with these questions, in terms of South African Law
Phindile Phoswa is a single mom who approaches you for advice. She has a two-year-old daughter named Amanda and is not married. She wants to make sure that her child will be financially looked after if something had to happen to her. Ideally, she would like you to help her draw up a will that wiil contain a clause to the effect that if she dies before her daugitfqr turns 18, everything she owns will belong to her daughter but will be controlled by three different people who will provide for her daughter from her assets. Her daughter will then only gain control over the assets when she turns 18. Phindile wants her sister Xolisa Phoswa, her best friend Marilise Potgieter and her pastor Pearl Munsamy to control the assets. Q.1.1 Apply the various elements of the definition of a trust to the facts. In your answer, identify the various persons who will fulfil the roles outlined in the definition. Q.1.2 Phindile does not know if she wants to create an ordinary trust or a bewind trust. Contrast an ordinary trust and a bewind trust with reference to the facts. Q.1.3 There are five of the essential elements for the creation of a valid trust, Consider the following scenarios and indicate what the possible outcome will be. Q.13.1 Assume that Phindile dies 10 years later. Marlise and Pastor Pearl have immigrated to other countries and no longer wish to be trustees. Q.1.3.2 Assume that at the time of Phindile's death, all three trustees are disqualified from appointmentStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started