The appointment of trustees is not something to be taken lightly. Often, people choose close friends to be the trustees of their testamentary trust. This is problematic, because circumstances change, and friends emigrate and die unexpectedly. If you aren't on top of your affairs, you might not have amended your will to reflect your wishes. Angelique Visser, the vice-chairwoman of the Fiduciary Institute of Southern Africa and a director at Baraza Wealth, says it's crucial that you review your will annually, when you review your financial plan. Check that you are still happy with your choice of guardian and trustees. Visser advocates including at least one professional trustee. "You need someone who knows what the legal requirements are. It will also be very important to ensure that one selects a trustee who has the necessary experience, professional indemnity and is a member of a professional body that sets high ethical standards as this person will be responsible for managing the t...

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