The document discusses the self-administration of a trust. It outlines the key steps which include opening a file and minutes book, setting up a bank account, keeping monthly accounting records and financial statements, and ensuring all transactions are properly documented with bank statements. It also describes the processes that should be followed for individual projects, monthly activities, and annual tasks like depreciating assets and filing tax returns. The presentation aims to provide trustees with guidance on properly administering and maintaining records for a trust.

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