Five common mistakes trustees make and how to avoid them

If someone appoints you as trustee in a will, you would think it is not such a big deal. You only have to ensure that the minor children get their regular payments and the rest of the time it is nothing to worry about. Right?

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No. You are wrong, says Gerard Abrahamse general manager of ASI Property.

"Despite the importance of estate planning, too few South Africans have a valid will, leaving their families vulnerable to prolonged legal battles, unexpected taxes and emotional disputes."

Trustees play a key role in protecting your legacy and can avoid all these problems, as they manage your assets and property as directed by the deceased.

However, despite good intentions, many make avoidable errors that can disrupt the process and hurt beneficiaries.

Abrahamse says these are the most common mistakes trustees make in South Africa:

Choosing the wrong trustee

Appointing a trustee is a strategic decision. Many choose friends or family without considering their time, financial skills, or impartiality. Abrahamse warns that poor trustee selection is a leading cause of mismanagement.