The Fairheads Umbrella Trust
Fairheads Umbrella Trust manages death benefits on behalf of minors and dependants with legal disabilities. The funds are used for the minors’ education, maintenance and general wellbeing.
What Is The Fairheads Umbrella Trust?
The Fairheads Umbrella Trust was established in 1999 to manage Section 37c benefit payments on behalf of minor dependants.
The Trust operates as an umbrella trust comprising of sub-accounts, achieving cost savings and providing a vehicle that ensures benefits are professionally invested and managed on behalf of the dependants.
How The Trust Works?
An account is opened when a death benefit payment is transferred into this trust. The aim is to make this money in the account last until the beneficiary turns 18 and preferably finishes Grade 12.
A beneficiary’s account will generally come to an end when he/she reaches the age of majority. At this point, any money that is left in the account is paid to the beneficiary.
The Fairheads Umbrella Trust registration number T1012/91