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SON’S TRUST FUND MIGHT GET LOOTED!

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THE FACTS

Onica Modise from Kagiso, Mogale City, said she has a son with a man she was dating for many years. In 2020 her partner died and she was later contacted by the lawyer and the family, saying there is a trust account in place for their son. Onica said she is worried the family will withdraw from it whenever they want.

ADVICE

The law requires that all withdrawals should be authorised by the trustees by way of resolution.

It has to be done in compliance with the powers of the trustees in terms of the trust deed. The financial books must be checked regularly to make sure everything is handled and distributed according to the trust deed.

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