Who we are / Our expertise
After much research and the application of the team’s skills and experience we have developed a comprehensive trust services offering, including a system for trusts, which consists of unique features, applicable specifically to South Africa. The team has vast experience in business engineering and processing, information technology, banking, structuring and drafting/amendment of trust deeds and other relevant documents, such as wills, trust administration, accounting and taxation. The team also has very strong relationships, specifically with the Master of the High Court, the fiduciary industry and SARS.
- We demystify trusts and make them understandable for the layperson
- We educate, guide and discipline trustees, to ensure they protect the trust’s assets
- We empower all trustees to be involved in the trust’s affairs
- We provide all necessary tools to guide the trustees to fulfill their roles in a user-friendly manner
- We have specifically designed the system to meet the requirements of the Trust Property Control Act and other SA legal requirements
- Our system reduces time spent on manual processes, allowing us to perform more value-add services for our clients, resulting in cost savings for you
- Our financial statements have been tailor-designed to report on all relevant trust matters to all stakeholders
- We have a unique, seamless, online banking, administration, accounting and taxation platform for trusts
- Our system generates pre-populated resolutions for each transaction type
- Digital signatures are utilized to make the administration of the trust easy
- Our system serves as an electronic vault, where trustees can store all trust related documents, giving all trustees access thereto at all times
- As you take care of the administration, the financial statements are created automatically; no “debits and credits” knowledge is required and no accounting entries have to be captured
- Recurring transactions are populated automatically
- Tax calculations and forms are prepared automatically by the system
- Our system not only produces historical accounting records, but it also produces projections, based on contractual information captured
- Our system provides an audit trail for each transaction, supported by relevant documentation, should trustees ever have to defend any action they took
- We provide ongoing education and guidance to trustees and keep them up to date with relevant legislation changes
Did you know that 90% of all trusts in South Africa never came into existence due to bad drafting of trust deeds?
Did you also know that of the 700 000 trusts (estimate) registered in South Africa, only 300 000 are registered for tax with the South African Revenue Service (SARS), of which only about 100 000 submitted tax returns in recent years? With very little legislation governing trusts in South Africa, it is no wonder that the number of court cases are ever increasing, with SARS and other creditors taking advantage of poorly structured and managed trusts.
One encounters a number of accounting companies and trust companies, who often perform certain trust services in isolation, often through the utilization of complete manual processes. Often these providers are not aligned, which result in the fact that estate owners’ true intentions and wishes are not reflected in the structuring and execution of their trusts. In a number of cases, trust practitioners focus more on their own pockets, than on the needs and requirement of the estate owner, which is sad.
After a lot of research to understand and address the problems in the South African trust environment, Trusteeze responded to an outcry of trust “owners” and trustees, to equip and guide them to get their trust matters in order. We developed a digital trust management system, which is a first of its kind in the world. Our user-friendly system takes care of the entire lifecycle of a trust, whilst protecting the trust assets against anybody trying to lay their hands thereon. Trusteeze is a unique, online, seamless document storage, administration, banking, accounting and taxation platform for trusts. It has been patented and a trademark has been registered.
So, we act as an accounting company, as well as a trust company; all in one; on the same platform. This makes us us one of the most unique trust companies in South Africa. Our collective expertise enables us to provide an all-in-one solution to our clients, reducing their risk substantially.
We understand the important role of education and the general lack of knowledge (or clarity, due to a number of grey areas) of South Africans on trust matters, especially in an environment where wealth is targeted by government.
A LEGACY OF LOVE
When we saw the devastation that a mismanaged trust had on our dear friend Nickey’s family, we decided to take action. Not one of our beloved family or friends will be financially ruined through a mismanaged trust again. You shouldn’t either. At Trusteeze, we will guide you to leave a legacy of love through a well-planned and executed trust that will protect your assets and take care of your loved ones.
Our executive team that will guide you every step of the way:
Phia van der Spuy
Founder, Chartered Accountant, Fiduciary Practitioner of South Africa®, Tax Practitioner
B.Comm(Hon) (Industrial Psychology), CA (SA), M.Comm (Local and International Tax)
During Phia’s career of over 25 years, she worked in various positions with some of the largest financial institutions in South Africa, which included various structured finance and property finance roles. She also worked in risk management, property development and private equity positions. She has a strong financial and legal background as well as extensive experience in debt and equity finance, property development, risk management, compliance and in supporting and growing start-up companies. Her strength is a diverse background of understanding and management of financial risk across various sectors. Phia holds memberships with the South African Institute of Chartered Accountants (SAICA), the Fiduciary Institute of South Africa (FISA) and the SA Institute of Tax Professionals (SAIT). Phia writes about trusts and estate planning in various national newspapers on a regular basis to educate and enlighten estate owners. She also published a book called “Demystifying Trusts in South Africa”, to educate all role players in a trust.
Risk Assessment and Structuring
Registered Financial Planner
John’s has in excess of 20 years experience in financial risk assessment and mitigation. His focus is the correct structuring of estates, with the use of trusts, where relevant. His extensive experience in the utilisation of trusts as part of an estate plan enables him to guide clients through the structuring and implementation of trusts.
John holds memberships with the Financial Planning Institute (FPI).