What Does Being a Trustee of a Body Corporate Entail? (Part 1)
When all the trustees of a body corporate resign, the options available to the owners include the appointment of: replacement trustees at a special general meeting. an executive managing agent at a special general meeting or approaching the Community Schemes Ombud service to do so. appointment of an administrator by way of an application to […]
Retirement planning – Distributing retirement fund death benefits
Allocating death benefits, and determining appropriate methods of payment Once the board of trustees has determined the beneficiaries and is satisfied that its proposed allocation is fair and equitable, the beneficiaries must elect how they would like to receive the death benefit. The final duty of the trustees is to determine the most appropriate manner […]
Deceased’s will declared invalid, despite clear wishes
The Wills Act sets out the requirements for a valid Last Will and Testament. For a will to be valid, it must be signed and witnessed. What happens if the wishes of the deceased are clear, but the document does not meet the requirements of a valid will? This was the heart of the matter […]