The Self-administration of Trusts

1. SELF-ADMINISTRATION
OF A TRUST
Presented to
11 September 2014
By

2. AGENDA
•Introduction
•First things First
•Projects
•Accounting / Bookkeeping
•Bank Statements
•The “recipe”

3. ADMINISTRATION
INTRODUCTION
Trustisregistered–whatnow?
LettersofAuthorityissued
CopyofDeedofTrust
Knowthecontentsofthedeed
Whatisthepurposeofthe(Family)Trust
Transferringassets/propertyintothetrust

4. ADMINISTRATION
FIRST THINGS FIRST
•Open a file
•Copies
•Minutes Book
•Agenda
•Meeting
•Proof of address of trust
•FICA the Trustees
•Bank account
•SARS

5. ADMINISTRATION
ACCOUNTING/BOOKKEEPING
Keeping books on a monthly basis
Annual Financial Statements, i.e. Income Statement and Balance Sheet
No auditor sign-off required
Journals or T-accounts

6. ADMINISTRATION
BANK STATEMENTS
•Reflects all transactions
•Bank costs
•Interest received
•Serves as voucher for entries

7. TRUSTS
THE “RECIPE”
PERPROJECT
Resolution
Gatheringofinformation
Conclusionoftransaction
Additionalcontracts
Accounting
Inventory

8. TRUSTS
THE “RECIPE”
PERMONTH
Paymentsofinstalments/debitorders
Accounting

9. TRUSTS
THE “RECIPE”
PERANNUM
Depreciationofassets
Accounting
FinancialStatements
Taxreturns

10. FIDUCIARY SERVICES
Estate Planning and Structuring
Administration of Deceased Estates
Trusts:
New registrations
Amendments
Administration
Legal audit
Wills
Buy and Sell Agreements
Other Business related Agreements / Contracts

11. QUESTIONS ?
Thank you for your time
For more information on this and other fiduciary services, please contact:
IAN BRINK
012-643 1049 / 082 494 0097
ian@ctrust.co.za
www.ctrust.co.za