A trust is an arrangement between a founder and trustee under which assets are held by the trustee for the benefit of beneficiaries.
It is a product of a contractual arrangement and differs from a company, which needs to be registered in terms of the Companies Act. A trust, even though it is not a legal persona, has a separate identity from the people who form it.
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It is not owned by any one and it never dies, unless terminated by the trustees or sequestrated for failing to pay its debts.
Assets that are transferred to a trust are legally and technically separate from the individuals who form the
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