When you create a Family Trust in Zimbabwe, you need three main groups: founders who start the trust, trustees who run it, and beneficiaries who receive its benefits. Founders establish trusts to help specific people. These beneficiaries can include actual human beings or companies and organizations. Your trust papers don't have to name every single person who benefits - they just need to describe who should receive help from the trust.
The same people can play multiple roles in your trust. Anyone who starts or manages the trust can also benefit from it. To set up your trust properly, you must provide the real names of everyone involved - no nicknames or fake names allowed. You'll need to include physical addresses, ID numbers, and birthdates for founders and trustees. Pick a clear name for your trust that explains its purpose.
Your trust documents must explain why you created the trust and who exactly will benefit, whether family members or disadvantaged persons. You must decide how many trustees will serve at once and how long they'll stay in those positions. The paperwork needs details about what powers trustees have, what rights beneficiaries receive, and exactly how new trustees join when needed. Make sure to describe whether trustees can delegate their responsibilities to others.
Your trust requires clear management rules plus information about any property being donated. Include security requirements, how long the trust will exist, and rules for meetings. Explain what happens if trustees cause problems and how people should resolve disagreements. Add details about changing trust rules later if necessary. Your documents should cover what happens when the trust ends and where the remaining assets will go afterward. All these details protect everyone involved and make sure your trust works exactly as you planned.
The same people can play multiple roles in your trust. Anyone who starts or manages the trust can also benefit from it. To set up your trust properly, you must provide the real names of everyone involved - no nicknames or fake names allowed. You'll need to include physical addresses, ID numbers, and birthdates for founders and trustees. Pick a clear name for your trust that explains its purpose.
Your trust documents must explain why you created the trust and who exactly will benefit, whether family members or disadvantaged persons. You must decide how many trustees will serve at once and how long they'll stay in those positions. The paperwork needs details about what powers trustees have, what rights beneficiaries receive, and exactly how new trustees join when needed. Make sure to describe whether trustees can delegate their responsibilities to others.
Your trust requires clear management rules plus information about any property being donated. Include security requirements, how long the trust will exist, and rules for meetings. Explain what happens if trustees cause problems and how people should resolve disagreements. Add details about changing trust rules later if necessary. Your documents should cover what happens when the trust ends and where the remaining assets will go afterward. All these details protect everyone involved and make sure your trust works exactly as you planned.
