Trusts remain a valuable part of most long-term wealth management solutions. The estate planning opportunities and protection from creditors that they offer remain a compelling proposition for most clients.
During 2014, SARS overhauled the Trust Tax return. This is a clear indication of its intention to scrutinise trust affairs more closely. We have embarked on a new project to assist you in proactively managing your trusts’ affairs with regard to administration, compliance and taxation.
The first step in the process is for you to perform a quick health check on your trust by answering these questions:
- Have I reviewed my trust deed recently?
- Do I maintain a separate bank account for the trust?
- Have I maintained a minute book recording the affairs of the trust?
- Have distributions to beneficiaries been correctly dealt with in terms of the provisions of the trust deed, as well as for tax disclosure purposes?
- Do I have the requisite number of trustees?
- Do I have an independent trustee?
- Do I know what my responsibilities are, as a trustee?
- Do I have loan agreements in place for any loans advanced by or to the trust?
Enhanced Trust Management Solutions
You can count on our professionals to administer your trust conscientiously according to your unique objectives.
Our services include:
- Regular trust administration
- Monthly trust accounting
- Trustee services
- Tax compliance
- Trust formations
- Trust deed reviews
Should you have any questions or require any assistance in obtaining certain documentation, please do not hesitate to contact our office.