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Personal Finance – Do trustees receive the service they require?

Trusts expert Phia van der Spuy unpacks four types of services that boards of trustees require; they should ask themselves which of the services their service providers provide, and obtain the required services their service providers fall short of. The four types of services are:

First, statutory services to trusts, such as trust registrations, trust deed amendments, trustee changes and the like.

The second is trustees, often being laypersons, require hand-holding in the active administration of trusts.

Third, trustees might now require the services of an independent trustee.

Fourth, trustees require financial information and someone who can assist them with tax returns and other South African Revenue Service (Sars) submissions.

Read more in Phia’s column here.

Phia is a CA with a Masters degree in tax, an FPSA®, a Chartered Tax Adviser, a Trust & Estate Practitioner and the founder of Trusteeze, the provider of a digital trust solution.