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Despite its lack of legal personality, a trust can have legal capacity and the trustees may perform juristic acts, to the extent that the trust deed allows this. Trusts are normally used to hold and protect personal or business assets, it is therefore the perfect vehicle to use for estate planning.
South African Asset Managers must register as Financial Service Providers (FSPs) with the Financial Services Board (FSB) under the Financial Advisory and Intermediary Services Act (FAIS). Fit and proper requirements under FAIS require different categories of FSPs to maintain specified minimum levels of capital, an example being that category I FSPs must maintain liquid assets equal to or greater than 4/52 weeks of annual expenditure.