Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Triple CC has ten (10) members. One of the members, Lerato, wants to bequeath her members interest to her two adult children. Advise Lerato which
Triple CC has ten (10) members. One of the members, Lerato, wants to bequeath her members interest to her two adult children. Advise Lerato which of the undermentioned solutions will be possible in terms of the Close Corporations Act 26 of 1988, and which would not. Give full reasons for each answer. 4.1 Lerato bequeaths her members interest to her children as joint holders in equal shares. (4 marks) 4.2 She creates a trust in her will to inherit the members interest. JCL Acountants CC will be the trustee and her children are appointed as the beneficiaries of the trust. (4 marks) 4.3 Leratos children register a new close corporation, Prefax CC, in which each of the children holds a 50% members interest. Lerato bequeaths her members interest to Prefax CC. (2 marks
Step 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