Risks for Trustees and Tax Practitioners in Trust Administration

Overview

Trusts are widely considered to be effective planning vehicles that provide several benefits. Considering legislative changes in recent years and court judgments impacting trust law, it is now imperative to consider all the legal and administrative risks affecting trusts. 

In this comprehensive trust series, we will provide a full perspective on the critical legal and governance aspects to be considered by the various parties involved in trusts: The donors, beneficiaries, trustees, financial planners, tax advisors and accountants.

This Trusts Beyond 2021 series consists of four parts (each webinar can be attended independently):

Webinar 1: Trusts: Get the Basics Right

Webinar 2: Trusts: Important Short and Long-Term Risks and Benefits

Webinar 3: Risks for Trustees and Tax Practitioners in Trust Administration

Webinar 4: Specific Tax Risks Related to Trusts

Click here to view the full series.

Webinar content

Risks for Trustees and Tax Practitioners in Trust Administration (Part 3) – 11 November 2021

• General trust administration: What is required?
  • Taking decisions: Resolutions, statutory approvals that must be in place.
  • Reliance on advice.
  • Decisions taken, i.e., signing off AFS without all trustee’s approval.
  • Bank accounts movements.
  • Movements in journals without proper resolutions.
• What are the practical issues relating to trustees?
  • Duties and responsibilities.
  • Accountant acting as independent trustee: Risks and liability considerations.
  • Compliance requirements and documents to be maintained.
  • Dealing with conflict interpreting a trust deed.
  • Meetings of trustees and notice thereof.
  • Who can remove a trustee?
  • Alternate trustees and proxies: Are these legally possible?
  • Importance of timeous and valid trustee resolutions.
  • Personal liability for tax debts of the trust.

Who should attend?

Tax practitioners, tax managers, financial managers

Presenters

Tamara Wallis and Karen Eckley

Executive Directors, Trustees for the Future

Tamara and Karen have a combined industry experience that spans over 36 years and have specialised knowledge and experience in the following:

• Tax matters and how to make tax-effective decisions as trustees.
• Conflict resolution strategy and group restructuring.
• Risk insurance solutions for beneficiaries and trustees.
• Business entities and how they fit in with trusts.
• Estate planning and wills and how that fits in with trusts.
• Administration of trusts and all developments in trust law and relevant case law.

Tamara

• BCom (Accounting), LLB, Master of Laws – Estate Planning.
• Postgraduate Diploma in Financial Planning.
• CGISA International Qualifying Board Examination (Chartered Secretary Route).

Karen

• Bachelor of Commerce in Law; H.E.D.
• Postgraduate Diploma in Estate and Financial Planning.
• Advanced Postgraduate Diploma in Financial Planning.

CPD

This event and successful completion of the online assessment will secure 2 hours verifiable output Tax CPD points per session.

Event Investment

CPD subscribers: Free for all 2021 Tax Practitioner and Tax Accountant CPD subscribers.

Regular price: R495.00

SAIT member: R395.00

Group price (five attendees maximum): R950.00

Payments & Cancellations

• All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.

• Kindly note that should payment not been received 2 days after the event, legal action will be taken

• Proof of payment will be requested at registration, if payment at that point in time has not been reflected on SAIT's bank account.

• Only written notice of cancellation will be recognised.

• Cancellation Conditions:

  • If the cancellation occurs more than 4 working days prior to the event no cancellation fee will be charged.

  • If the cancellation occurs less than 4 working days prior to the event a 100% cancellation fee will apply.

• Delegates who book and fail to attend will be liable for the full event fee.

• SAIT's liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.

• Please click here for the full terms and conditions.