Services

Estates, Wills and Trusts

What We Offer

Estate Planning ensures that there is a holistic plan to take care of your personal and financial matters, should you pass away. JCB Inc can assist you in structuring your Estate Planning to suit your unique circumstances, and to make sure that your estate is set up in a tax efficient way. We focus on all points of the plan in unison, taking into account your assets and liabilities and using different tools such as drafting of a Will or setting up a Trust. The tools used will vary, depending on your needs.

Advantages of having a Will

  • Choose who you would like to benefit from your estate
  • Protect the interests of minor beneficiaries
  • Nominate guardians for your minor beneficiaries
  • Nominate an executor or trustees of your choice

Disadvantages of dying without a Will

  • Strict legislation will decide who inherits your assets
  • You will not have the opportunity to create a testamentary trust for your minor beneficiaries
  • You will also not have the opportunity to nominate an executor of your choice

Types of trusts

JCB services include:

Formation and administration of all of the below. Complying with all legislation governing the Trust Act.

A well-planned trust can offer sound solutions to many sticky estate planning problems.


A trust offers an efficient and flexible way to ensure that your assets are preserved and objectively managed and controlled by appointed trustees in die best interest of your
beneficiaries. Each person’s needs are individual and unique and your
trust should be planned to meet your specific requirements.

Testamentary trusts

If you pass away and a Testamentary Trust has not been provided for in your Will and your children are under the age of 18, their inheritance will be reduced to cash and the proceeds paid into the Guardian’s Fund, administered by the Master of the High Court. These funds are not invested in growth investments and are at times difficult to get hold of.

With advice from our leading tax experts (taking Capital Gains Tax and estate duty into consideration) all beneficiaries listed in the Trust will be looked after as your funds within the Trust would be invested wisely.

The trustee administers funds in cases where the dependent cannot do so (for example as a result of a physical or mental handicap). This helps to avoid problems associated with the Guardian Fund.

Vested trust

The income and capital beneficiaries are already determined and described. The income is taxable in the hands of the income beneficiary, who could also be the capital beneficiary. The capital beneficiary thus gets immediate property rights, subject to the terms of the will or Trust Act.

Living trust

Living trusts are ideal for keeping growth assets out of your estate and are thus a superb medium to limit estate duty and to protect assets from generation to generation. A living or inter vivo trust comes into being during the lifetime of the settlor or founder with the signing and registration of a trust.

A living trust is formed as an arrangement between the founder/settlor and the trustees. The founder/settlor is the person who takes the initiative to create a trust.

The interested parties in a living trust are the founder/settlor, the trustees, the persons or company appointed to take control over the assets and take responsibility for the administration and management thereof; and the beneficiaries or person who, in terms of the Trust Act, are entitled to the income and/or capital of the trust.

After signature of the trust deed, the trust is registered with the Master of the High Court in whose jurisdiction most of the assets are situated or where the administration is to take place.

A living trust can take several forms:

Family trust

A trust that comes into being through an agreement between the founder and the trustees. Assets are sold to the trust and a loan account (debt) is created, or assets can be donated, but with donations tax implications. The trust may obtain other assets by way of purchasing or an inheritance.

Charitable trust

A charitable trust is a particular kind of trust that may be classified as non-taxable in terms of the Income Tax Act. Capital loans are made to a trust. The trust is so structured that it pays no income tax. The trustees then make donations to charities, schools, churches, etc. on your behalf and according to your wishes. Because there is no income tax applicable, you may make large donations.

Special trusts

These types of trusts, which are taxed at the same rate as a natural person, may only be created to benefit a person suffering from serious mental illness as described in the Mental Illness Act, No 18 of 1973, or who suffers from serious physical deformity. Testamentary trusts benefiting any living family member, of whom the youngest turns 21 in a tax year, may in certain cases also be classified as a special trust.

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