Press release by the Fiduciary Institute of SA (FISA)
Tuesday 6 September 2011
Fiduciary experts to meet annually
The Fiduciary Institute of SA (FISA) will hold an annual convention at which practitioners and academics will discuss industry issues with a view to lifting the standards of fiduciary practice in South Africa.
Fiduciary practice includes the drafting of wills, administration of trusts and estates, tax and financial advice and the management of client funds.
This year the convention will be held on 15 September at the University of Free State’s Centre for Financial Planning Law in Bloemfontein. Speakers include leading academics from several universities, senior fiduciary practitioners and the recently appointed Chief Master of the High Court, Advocate Lester Basson.
Convention organiser and FISA member Louis van Vuren said: “The convention is designed to give practitioners deeper insights and practical assistance through exploring the outcome of several recent courts cases relating to trusts and wills.
“In addition, the role of trustees and executors will be examined and the Chief Master will talk about the status of estate administration,” said van Vuren.
Anyone involved in the fiduciary industry is welcome to attend the convention which is also an accredited CPD event for members of the Financial Planning Institute (FPi).
The Centre for Financial Planning Law has a close working relationship with FISA. Its Director, Advocate Wessel Oosthuizen, has assisted in the design of a high-level fiduciary examination which will be piloted through the University of the Free State later this year. Successful candidates will be entitled to use the designation Fiduciary Practitioner SA (FPSA).
Van Vuren said the FPSA examination is a “board exam to ensure only individuals with the necessary level of knowledge and skill and whose behaviour aligns with the ethical standards of FISA are awarded the designation.”
[See conference programme below]
Louis van Vuren, FISA member and Acting Head of Fiduciary, BoE Trust Limited, on 021 416 6274 or 082 451 3293 or [email protected]
Aaron Roup, FISA Secretary on 011 294 8262 or 082 449 2569
Or Lucy Reyburn of .word
082 922 7483
Notes to Editors
The Fiduciary Institute of South Africa (FISA) is a non-profit organisation that represents fiduciary practitioners and sets high minimum standards for the industry to protect the public’s interests.
Activities of FISA members include but are not restricted to the drafting of wills, administration of trusts and estates, tax and financial advice and the management of client funds.
FISA encourages the public to make sure they deal with a FISA member when it comes to Will drafting and trusts and estate planning. The public can be assured that that practitioner meets rigid minimum standards both with regard to fiduciary competence as well as integrity and honesty. He or she also has the necessary administration systems in place to provide a professional service.
FISA has 21 corporate members and over 600 individual members, who collectively manage in excess of R200 billion.
The institute works closely with government to assist in reducing unnecessary cumbersome legislation and to streamline many processes, particularly within the office of the Master of the High Court and SARS.
PROGRAMME FOR FISA CONFERENCE
15 SEPTEMBER 2011
|08h30||Opening and logistics||Conference Chair|
|08h35||Welcome Addresses||Dean of Faculty of Law, UFS and FISA Chair|
|08h45||Freedom of testation and Sec 9 of the Constitution, 1996 through the cases – where to from here?||Prof Francois du Toit – UWC|
|09h30||The practical side – Minister of Education v Syfrets, Ex Parte BoE Trust – what are the practical pitfalls in testamentary trusts||Mr David Knott – Head of Product, BoE Trust|
|10h45||Requirements for valid and enforceable actions by trustees||Prof Anton van der Linde – UP|
|11h15||Do trustees know what they take on? Practical pitfalls for our friends in the financial planning profession||Adv Louis van Vuren – Acting Head of Fiduciary, BoE Trust|
|11h45||Actions by trustees before authorisation by the Master – is legislation in step with economic demands?||Dr Bradley Smith – UFS|
|13h15||Revocation of a will by a later will – Pienaar v The Master and other cases||Prof MC Schoeman-Malan – UP|
|13h45||The practical problem of not knowing about the later will – Spare a thought for the poor executor!||Adv Wessel Oosthuizen, Centre for Financial Planning Law, UFS|
|14h30||The regulator: administration of estates – quo vadis?||Adv Lester Basson – Chief Master|
|15h00||Panel discussion and questions||Conference Chair and all Speakers|