UCT Affirmation of beneficiaries
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Important Note: The Affirmation of Beneficiaries (AoB) Deed must be executed by at least two SCT Trustees and the Family Trust (FT) Grantor-Trustee and Trustees. The two witnesses must be third parties – they cannot be the same SCT or FT Trustees who are executing the Deed.
Essentially the purpose of the AoB Deed is two-fold:
1. It signals that the FT Trustees align themselves with UCT values and the UCT Treaty, underpinned by Natural Law,
2. It is an ‘approval’ document evidencing that the SCT Trustees have agreed to the FT becoming a beneficiary of the SCT, and thus that the FT will come under the protection of UCT jurisdiction.