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Legal Talk

Legal Talk

Author: Fawzia Khan
Date: 2013-11-22
Source: Department of Justice

The Guardian's Fund is a fund created to hold and administer funds that are paid to the Master of the High Court, on behalf of various persons, known or unknown (for example, minors, persons incapable of managing their own affairs, unborn heirs, missing or absent persons or persons having an interest in the moneys of a usufructuary, fiduciary or fideicommissiary nature). It falls under the administration of the Master of the High Court. 

Only the High Court can appoint a person, other than the natural guardian of a minor, as the legal guardian of a minor. Likewise, only the High Court can deprive a natural guardian of guardianship over his or her minor. Each Master has its own Guardian's Fund.

When the Master of the High Court receives or accepts any money he / she must open an account in the books of the Guardian's Fund, in the name of the person to whom the money belongs or the estate of which that money forms part. If it is not known to whom such money belongs, the account may be opened in the name of the person from whom the money has been received, or the estate from which the money is derived, as the case may be.

The money in the Guardian's Fund is invested with the Public Investment Commission and audited annually.

A minor account holder as well as a person who cannot look after his / her own affairs can claim maintenance from the Guardian's Fund. The Master is entitled to pay all accrued interest as well as up to R 100 000 from the invested capital for maintenance, like school and university fees, clothes, sporting and computer equipment, medical fees, board and lodging and any other needs that can be motivated. 

Maintenance can be claimed by the guardian / tutor / curator / or person looking after the person of the account holder by way of an application, supported by quotations and accounts. Payments can be made directly to the service deliverer, like schools, universities, bookshops, etc. 

A minor can claim the invested money as well as the accrued interest on reaching the age of majority, i.e. on the 18th birthday, marriage or declaration by the High Court of majority. 

Know your rights! Email fawzia@thelawdesk.co.za or call 031-5025670 for legal assistance.