INDEPENDENT TRUSTEE APPOINTMENT

 

The independent Trustee is appointed to ensure that the Trust is administered in accordance with the responsibilities set out in the Trust deed and that the Trustees of the Trust comply with the applicable legislation and any further precedents as set out by our courts.  The Trustees need to act independently for the benefit of the Beneficiaries.

We can assist with the comprehensive administration of Trusts, which includes the following:

Secretarial and Administrative Services

  • Attending of the annual general meeting or Trustee meetings, drafting of the agenda and minutes of the meeting and obtaining of signatures where necessary
  • Chairing of meetings as and when required
  • Attend to FICA (Financial Intelligence Centre Act) requirements for Founder, Trustees and Beneficiaries
  • Maintaining of Administrative Statements and Asset Register

Trust Income and Expenditure

  • Monitoring of payments, income and expenditure
  • Maintaining of the loan accounts for the Founder or any Donor or other Trustees
  • Ensuring that all accounts earn interest at a competitive rate
  • Specific investment portfolio’s as per financial planner’s recommendations
  • Competitive and unique price structure to make Trust Administration more affordable
  • Annual internal audit upon completion of balance sheet

Legal and other Compliance

  • Provide legal advice and ensure legal requirements for administration of Trust are met
  • Assist with legal agreements and various contracts on behalf of the Trust at a competitive price
  • Ensure the Trust is kept up to date with all amendments to legislation and new precedents set by our courts.
  • Draft and advise on any amendments to the Trust deed.
  • Lodge necessary amendments and documents with the Master of the High Court.

Tax Compliance and Accounting

  • Appointment of accountant if necessary and ensure at all time that Trust complies with the tax legislation and that annual returns are submitted to the South African Revenue Service on time.