Modern Trust Administration Strategies
Presenters : Caryn Maitland CA(SA)
Overview
As regulatory oversight intensifies and beneficiaries demand heightened accountability, the effective administration of trusts has become integral to legal practice in fiduciary matters. This session will explore the practical legal realities, frequent procedural pitfalls, and core duties confronting legal practitioners who manage or advise on matters involving trusts in South Africa today.
Join Caryn Maitland CA(SA) as she unpacks the evolving expectations around trust governance and compliance, equipping you with the tools and knowledge to effectively manage trusts.
Learning objectives
Attending this webinar will equip you with the following competencies:
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Gain clarity on the evolving regulatory and fiduciary expectations placed on trustees and their advisors.
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Understand the foundational principles of trust governance and proper administration practices.
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Learn how to prepare, review and maintain appropriate trust records and resolutions.
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Explore current compliance obligations, including beneficial ownership, recordkeeping and trustee conduct.
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Identify risk areas and governance weaknesses that could compromise the integrity or purpose of a trust.
Content
The webinar will cover the following topics:
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Foundations of Modern Trusts
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Nature and purpose of trusts: Inter vivos vs testamentary
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Key definitions from the Trust Property Control Act
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Roles and responsibilities of trustees, trust administrators, and professional advisors
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Trust Governance and Compliance Duties
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Fiduciary duties: Section 9 of the Trust Property Control Act
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Independence, accountability, and conflict of interest management
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The importance of trustee resolutions and proper delegation of powers
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Effective Trust Administration Practices
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Recordkeeping and document retention policies
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Financial oversight and monitoring trust activities
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Reporting to beneficiaries and stakeholders
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Financial Reporting and Accounting for Trusts
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Preparing annual financial statements: Acceptable frameworks (e.g., IFRS for SMEs)
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Related party transactions and disclosures
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Dealing with loan accounts, capital, and distributions at a high level
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Regulatory Compliance Landscape
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Beneficial ownership reporting under FICA and the Companies Amendment Act
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POPIA obligations: Managing trust-related personal information
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Trustees’ responsibilities in managing compliance risks
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Practical Administration Challenges and Case Examples
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Dormant trusts and trustee inactivity
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Administration errors and inconsistent resolutions
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When and how to wind up a trust responsibly
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