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iol: Can someone ‘stand in’ for you as trustee?

In this Personal Finance column, trust expert Phia van der Spuy asks whether someone can ‘stand in’ for another trustee – a common enough question.

Often trustees do as they wish and are not aware of (or ignore) the fact that they have to abide by the instructions of a trust deed; it being a contract between the trustee/s and the founder/s. Many have never even read the trust deed. Many trustees also do not understand the unique nature of a trust and the outcomes of relevant court cases, which apply to them as trustees. Conflict between the trustees often complicates matters.

Phia advises that you need to consult what the trust deed says.

Read further here.

Phia is a CA with a Masters degree in tax, an FPSA®, a Chartered Tax Adviser, a Trust & Estate Practitioner and the founder of Trusteeze, the provider of a digital trust solution.


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