Self Assessment

If you do not have a trust:

• Is your personal estate worth more than R 3 500 000 (or R 7 000 000 for a married couple)?
• Do you have any large assets in your personal name that may be exposed to any creditors, such as SARS or a soon-to-be-ex-spouse?
• Do you have minor children?
• Are you a business owner?
• May you be at risk to develop a disorder, such as Alzheimer’s Disease, and not being able to look after your own affairs?

If you have answered “Yes” to one or more of the above self-assessment questions, we will, upon your request, gladly introduce you to one of our professional trust service providers utilising the Trusteeze Platform, who may assist you to create a trust.

If you do have a trust:

• Was the trust registered after 2016? If registered before 2016, was it ever amended to make provision for legislative changes?
• Does the trust deed contain a “severability clause” severing any possible illegal provisions in the trust deed?
• No circumstances have changed that warrant an amendment of the beneficiary definition or an amendment of the trust deed.
• There is no testamentary reservation in the trust deed.
• The founder does not have any reserves rights in the trust deed that may indicate control of the trust or a lack of intention to create a trust.
• Does the trust have a bank account, and if so, are all trust related payments made from this bank account and not from the credit card or bank account of the estate planner/trustee? Was the initial donation (if an amount in cash) in terms of the trust deed paid into the trust bank account by the founder?
• Is the trust registered for Income Tax and are all relevant tax returns submitted to SARS?
• Does the trust deed require trustees to meet (sometimes at least once a year) and do the trustees have written signed minutes of these meetings as proof?
• Do the trustees have signed resolutions by all trustees for every transaction in the trust?
• Does the trust have an asset register as required in terms of the Trust Property Control Act?