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What trustees should know about the amendments to the Trust Property Control Act
Among other things, trustees are obliged to keep adequate records in relation to beneficial ownership.
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
Read moreAmong other things, trustees are obliged to keep adequate records in relation to beneficial ownership.
One of the unforeseen consequences could be the premature acquisition of rights.
If a trust is not valid, the trustees can be held personally liable for any taxes related to the trust activities.
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