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Independent Trustee & Trust Administration

Court Order trusts are created when a claimant has been successful in claiming against either the RAF/PRASA or the MEC/Medical Professionals and the courts have decreed the funds need to be protected.   The trustees then have a duty to the beneficiaries to appropriately manage, protect and preserve the funds on behalf of the beneficiaries.

In the case of RAF/PRASA trusts – it is important to note that a large portion of the award is to compensate the beneficiary for his/her loss of earning as well as pain and suffering.

 

The trustees have an obligation to ensure that the funds are preserved in order to assist the beneficiary when he/she is unable to earn a salary.

In the case of medical negligence trusts a large portion of the award is earmarked for future medical expenses and as trustees it is our duty to provide such care / treatment to our beneficiaries at private health care facilities.  We also ensure that a beneficiary’s family members are trained on the patient’s requirements and have the support they need.

 

Our trusteeship and administration services include the following:

  • Ensuring trust assets are adequately insured
  • Terms of trust deed are complied with
  • Needs analysis of the beneficiary on a regular basis
  • Annual trustee meeting which includes preparing agenda as well as minutes
  • Annual trust review
  • Compliance with legislation
  • Act honestly and in good faith
  • Invest trust funds with independent financial advisors, which is actively managed and diversifies risk. 
  • Electronic Banking
  • Emergency line available 24/7