Trusts and Foundations Law: A New Dawn with Wanjiru Nduati
Explore the world of trusts and foundations law with Wanjiru Nduati, a trust and estate practitioner. Delve into the benefits, contributions to Kenyan development, advantages, and regulatory aspects of these entities. Discover the review of key laws and the powers and duties of trustees in shaping the future of philanthropy and wealth management.
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Presentation Transcript
TRUSTS AND FOUNDATION LAW A NEW DAWN WANJIRU NDUATI TRUST AND ESTATE PRACTIONER
FOUNDATIONS Private Wealth Corporate Wealth Economic development Social development Private Foundations Corporate Foundations WEALTH PHILANTHROPY
Foundations and Kenyan Development How Foundations contribute to Vision 2030 Vision 2030 Economic - Finance Social Political Certainty, governance, regulation Foundations Asset Management
Advantages of Strong Foundations Transparency Fund raising Governance Certainty Foundation Sustainability Tax alignment
PHASE 1 Review of Trustees (Perpetual Succession) Act Cap 164 Laws of Kenya A review of the bedrock law that deals with the establishment of Trusts in Kenya to achieve the following objectives To have one primary statue that governs the establishment of trusts and foundations for both philanthropic purposes and private wealth purposes. To establish under the Cap 164 a single regulatory system for the regulation of trusts and foundations established under this Act and ensure that the regulation of trusts and foundations is aligned to best practice around the world.
Phase 2 - Powers and Duties of Trustees The powers and duties of Trustees are regulated under the Trustee Act, Cap 167 of the Laws of Kenya. The powers and duties of Trustees will apply to both the governance of Trusts and the governance of Foundations.
