We register any type of trust and can assist with opening bank accounts and the registration of a trust for tax. The fees for the registration of a trust ranges from R 6,037.50 including VAT, depending on the type and complexity of the trust.
RAF TRUST ADMINISTRATION
The registration of RAF Trusts is an area of specialism for DK Wealth and entails the registration after a court order has been issued in respect of patients with either a head injury or if they are a minor.
We provide inter alia the following services:
We consult with the patient to explain how a trust works. If required, we register the trust deed, pay the master’s fees, open a bank account, register the trust for tax and tend to the accounting of the trust. We then invest the funds with reputable brokers in investments that yield the best possible returns.
We determine the income to the patients and deal with other claims, pay any accident related medical expenses and claim refunds in respect of such claims from the RAF.
We communicate with the patient and the instructing attorneys, deal with any queries from the patients or the master and tend to any matters incidental to the above.
Our administration fee is 1.15% per annum including VAT of the assets under control. We can communicate with patients in any official South African language.
We can draft any custom commercial contract in accordance with South African Law. Contracts include, but are not limited to: shareholders agreements, association agreements, sale of business agreements, joint venture agreements, IT agreements, sale agreements, loan agreements, credit agreements, terms and conditions and consumer agreements.
We can assist other practitioners with the drafting of contracts on a fee sharing basis.
We can act as a paymaster in respect of commodity or other international or local deals. All payments are received and paid from an Investec Foreign Currency account. Reserve Bank compliance checking and other regulatory compliance checks are done by Investec. We will distribute any commission in terms of a duly concluded paymaster or master fee protection agreement. We will require full FICA compliance before we receive any money on behalf of a client in South Africa.
Our fees are negotiable but are based on internationally accepted fees. The following is a guideline in terms of which the fees could be negotiated:
R1 ˃ R10,000 000.00 = 1%
R10,000 000.00 ˃ R100,000 000.00 = 0.80%
R100,000 000.00 = 0.50%
A range of legal services could be rendered in association with De Kooker Attorneys.