Tag archives: Trust property

Grounds for removal of trustee

The overriding question when a court is asked to remove a trustee is whether or not the conduct of the trustee imperils the trust property or its proper administration. The decisive consideration is the welfare of the beneficiaries and the proper administration of the trust and the trust property. Mere friction or enmity between a … Continue reading

Medical scheme member savings accounts are trust property

Members’ funds allocated by medical schemes to their members’ savings accounts are trust property in terms of the Financial Institutions (Protection of Funds) Act 2001 (FI Act) and must be accounted for separately. Section 35(9)(c) of the Medical Schemes Act provides that the liabilities of the medical scheme must include the amounts standing to the credit of … Continue reading