Legal Blog - Louwrens Koen Attorneys #inter vivos trust
Testamentary trusts, also known as will trusts, are established after the death of the person who created them. They are typically used to protect the interests of minors or other dependents who are unable to manage their own affairs. In South Africa, testamentary trusts are commonly set up to hold assets on behalf of minor children who are unable to inherit under the law.
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An inter vivos trust is a type of trust that is established by a person during their lifetime to manage specific assets or investments and provide support to beneficiaries, typically family members. The primary purpose of this type of trust is usually to generate income for the beneficiaries and to provide funding for various needs such as housing, care, education, and general welfare.
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