Particularly good articles appeared recently by FISA practitioners covering aspects such as the effect of taxation in the event of death and the consequences of different marital regimes. One such article by my co-member of FISA, Johan Brand that appeared in the Landbouweekblad of 27 August 2020 about the choices that we have before getting married is worthy of mentioning.
The belief that wills and trusts are enough to sustain the legacy of wealthy families is misguided. Poor family governance, compliance and bad structuring can pose a risk to preserving and building wealth for current and future generations.
With the emergence of first-generation wealth after 1994, there is a need for families to confront the risks that could jeopardise the current asset base, their legacy and the wealth that is intended for future generations.
Nico Botha, being passionate about quality fiduciary services, came out of retirement to join Stellentrust and was appointed as its CEO. “For centuries the baobab has stood as an African icon of size, strength and longevity providing, food, water and shelter. The baobab dominates the savannah and so will Stellentrust in the future”, says Nico. With him at the helm and supported by Sarel as its Chairperson, so will Stellentrust stand above the fiduciary industry in South Africa.
The Public Trustee and Debenture Corporation (currently known as Stellentrust) was incorporated on 14 May 1952 as a public company with its registered office at 24 Wale Street, Cape Town, the former Syfrets Head Office. The registered address was later changed to cnr. Church and Somerset Streets, Graaff Reinet, from where the company provided fiduciary services to the Cape Midlands.
If one meets a new friend, get introduced to new colleagues’ and or get exposed to a new company, the history of such an entity is always important. Understandably one is interested in where they come from to understand where they are going to, what the philosophies of the past directors were and how the new directors intend to continue building on the foundation that was laid by their predecessors. Hereunder follows the history of Stellenbosch Trustees and Trust Corporation Limited (hereinafter referred to as “Stellentrust”) as well as the people who were and are still involved.