Quick Guide To Beneficiary Funds
- The main aim of the beneficiary fund is to pay towards educational costs until the minor child completes his/her education.
- Regular payments made to the guardian or caregiver assist towards the general living costs of the minor child.
- The funds are protected in the case of change of guardianship or caregiver.
- No tax is paid in the fund and any payment out of the fund, whether capital or income is tax-free.
- The guardian/caregiver is relieved of the burden of managing and investing funds for the child.
Click here to download a quick guide to beneficiary funds.