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Guardian Trust

Protect your children by protecting your policy.

There will come a time in every parent’s life when they can no longer be there to protect and provide for their children. This turning point can come in 20 years, or it can be tomorrow – when your child is still a minor and in need of someone who will protect their interests.

No matter how trustworthy your child’s guardian may be, there is always risk in entrusting your child’s money to a guardian to manage and spend as they see fit. The Sanlam Trust Guardian Trust is a safe alternative to the Guardian Fund of the Master of the High Court, and ensures that the policy benefits are managed on your child’s behalf by the trustees of the guardian trust. This ensures that the funds are utilised to the sole benefit of your child (beneficiary).

Sanlam has partnered with Sanlam Trust, part of Capital Legacy Group and a Sanlam Associate, to give you expert advice on wills, trusts, estates, and related services.

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What is a guardian trust?

Generally speaking, if you nominate your minor child as a beneficiary of your life policy proceeds, their portion would be paid out to their natural/legal guardian. Unfortunately, this gives the guardian full power over the money which essentially means that they can use it for any other purposes. The Sanlam Guardian Trust allows the appointed trustees to manage the benefits payable on behalf of your beneficiary, giving you peace of mind that your child’s funds will be managed responsibly.

To ensure that the money is placed in a Sanlam Guardian Trust, you need to complete a nomination form to indicate that the benefit must be managed on behalf of the beneficiary.

Download nomination form Download brochure

Who needs a guardian trust?

A minor child who was nominated as beneficiary of their parent’s policy proceeds.

A parent who would like to ensure that the proceeds will be used to the sole benefit of the child.

If you don’t believe that a guardian trust will benefit your family, consider other types of trusts such as a testamentary trust.

Sanlam Guardian Trust administration

The Sanlam Guardian Trust is designed to give you, the parent of a minor child, the peace of mind that the policy proceeds will be used in the best interest of your child. By managing the administration surrounding a guardian trust, we will ensure that all your child’s needs are taken care of.

Administration entails:

  • A separate trust account is set up for each beneficiary. The trust provides protection against irresponsible misuse of the minor’s funds.
  • Independent and professional trustees share the financial responsibility of the minor with the natural/legal guardian.
  • Regular maintenance payments are made to beneficiaries or their guardians/caregivers according to the needs of the minor child after a proper needs analysis.
  • Ad-hoc payments can be made for other needs such as school fees, medical costs and other necessities.
  • Annual benefit statements of the trust account are provided to the beneficiary/guardian. These are also available on request throughout the year.
  • Objective investment management in order to meet the child’s income and capital needs properly.
  • The capital is invested professionally according to the unique circumstances of each beneficiary to ensure maximum protection and growth.

Frequently asked questions

Please have a look at our frequently asked questions if there is anything that you’re unsure about – otherwise, contact us directly.

How much does it cost to set up a Sanlam Guardian Trust?

The trust account will be set up free of charge, as it will be managed under the Sanlam Trust Guardian Trust Umbrella deed registered at the Master of the High Court (Reference IT4509/98). Management and other fees will however be payable for the day-to-day administration of the account.

What is a trust deed?

The trust deed contains the provisions according to which the benefits paid to the trustee are to be administered.

What is the role of the trustee(s)?

The trustees administer the trust assets at all times for the sole benefit of the beneficiaries in accordance to the provisions of the deed.

The trustees are not obliged to provide the Master of the High Court, or anyone else, with security for the proper execution of its duties as trustees of the trust.

Protect the interests of your minor child

Speak to an expert today to set up a Sanlam Guardian Trust for your children.

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