The basic information required to set up a Family Trust in Zimbabwe

The parties to a Trust are:

1. (a) The Founder(s)
2. (b) The Trustees
3. (c) The Beneficiaries

A trust is created by a founder for the benefit of a class of people or a group of persons (the beneficiaries). The beneficiaries of a trust can be artificial persons such as a company or natural persons.

A notarial deed of trust in Zimbabwe does not need to list each and every beneficiary. It can provide the identities of the persons who are meant to benefit from the trust. The founder(s) of a trust and the trustees of the trust, can also be beneficiaries of a trust.

The essential information required to set up a trust in Zimbabwe

1. • The names of the founder(s) of the trust (together with their physical addresses, ID numbers and dates of birth)
2. • The proposed name of the trust
3. • The objectives of the trust (the purpose of the trust)
4. • The beneficiaries of the trust (family members, disadvantaged persons etc)
5. • The names of the initial trustees (together with their physical addresses, ID numbers and date of births)
6. • The number of trustees and the length of their terms of office
7. • The powers of the trustees
8. • The powers of the beneficiaries
9. • How the trustees will be appointed
10. • Delegation of powers by the trustees
11. • How the trust will be managed
12. • The trust property (donation, movable or immovable property)
13. • Security
14. • The duration of the trust
15. • Annual General Meetings
16. • Quorum
17. • Liability of the trustees
18. • Alternative dispute resolution
19. • Amendment and variation of the trust
20. • Dissolution (winding-up) of the trust
21. • What happens to the property of the trust upon dissolution

The names of the founder(s), trustees or beneficiaries should not be assumed names or alias, but actual names.