Trust tax question

[Houses4Rent]

Justloadit is spot on.

If the trustees do all things correctly the independent trustee won't find any reason to object to anything and will approve all decisions.

if however the independent trustee is a problem for any reason simply fire him/her and appoint a new one.

A good/competent independent trustee is not only required, but also worth something as he/she would stop you to do something illegal/against the mandate of the trust.

I use the Cape Town part of DVK (the V is for Velosa)

[Basment Dweller]

Thanks this is a very informative thread for me, I am currently talking to a guy called Ian Van Greunen from a company called Consolidated also in Randburg, every heard of them?

Another question, what kind of service does Rob Velosa provide as an independent trustee? Does he help you with your financials, provide advice, facilitate meetings etc?

[Justloadit]

Yep Rob and Bizfin provide everything, from minutes to financials, all mater related to Trusts. This is the reason that I recommend that you get involved with a company who only deals in Trust issues, they can get complex. Any lawyer can set up a Trust, but like anything in life, get the expert when dealing in this space.

[Houses4Rent]

To my knowledge the functions of an Independent Trustee and Trust accountancy are 2 separate matters. They can be together, but do not have too. I have them with 2 separate parties to keep it more "at arms length" and other reasons.