Services. Values. More about us. Services. Vision. Mission. Contact details. Your fiduciary Wealthsmith. Fiduciary Services Intermediaries

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1 Your fiduciary Wealthsmith Fiduciary s Intermediaries January 2016 s More about us At Sanlam, we believe an inheritance is about more than leaving behind one s money. It s a legacy that represents a life s work, and we are committed to treating it with the care and respect it deserves. That is why Sanlam Trust offers intermediaries and their clients expert knowledge and best practices in all aspects of fiduciary services. We have highly skilled and enthusiastic staff for whom client service is a top priority. Sanlam Trust is a wholly-owned subsidiary of Sanlam Life Assurance Limited, with offices in Bellville, Port Elizabeth, Durban, Pretoria, Bloemfontein, Boksburg, George and Johannesburg. It has, since its inception in 1996, grown into a competitive trust company with consultants countrywide. Vision To be a dominant player in the fiduciary services industry through effective differentiation by delivering a broad range of products and services. Mission To combine aggressive strategic marketing with quality products and superior customer services at competitive prices to provide the best fiduciary value to customers. Values Grow shareholder value through innovation and superior performance Lead with courage Serve with pride Care because we respect others Act with integrity and accountability s Advice s Will s Administration of Deceased Estates Trust s The administration of Beneficiary Funds Tax s s support intermediaries countrywide in all the products and services of Sanlam Trust. See contact person per product.

2 Advice services Will Consultation At Sanlam Trust we offer advice services to clients of intermediaries that can include an estate plan regarding suitable will structures in order to limit costs, save on taxes, protect dependants, offer peace of mind as well as ensure the transfer of wealth to next generations. Will consultation free of charge Quotation for estate plan Trust Deeds Sanlam Trust specialises in the drafting, reviewing, amending as well as registration of trust deeds. Drafting of trust deed within three working days after receipt of all information Competitive fee structure Existing relationship with Master s Offices limits possible delays in registration process Skilled staff up to date with latest estate planning techniques Advice immediately available via wills offices or consultant National footprint N/A Drafting of inter vivos- and charitable trust deeds DIF Area R500 30% of commission amount Bellville Tel: (021) Fax: (021) Johannes le Grange Cell: Durban Tel: (031) Fax: (031) Vacant Johannesburg Tel: (011) / Fax: (012) Abraham Tshili Cell: Bloemfontein Tel: (051) Jacolene du Plessis Cell: Pretoria Tel: (012) Fax: (012) Zoni Mtshweni Cell: George Tel: (044) Marelize Faul Cell: Boksburg Tel: (011) Nicolene Cheethai Cell: Iris Scheepers Tel: (012) Fax: (012) iris.scheepers@sanlam.co.za

3 Independent Secretarial s Sanlam Trust offers secretarial services to trustees of trusts that includes the scheduling and organising of meetings, drafting and circulation of agendas, attending trustee meetings, drafting and circulation of minutes, drafting of resolutions, correspondence with the Master of the High Court as well as safe-keeping of documents. Above services available at a competitive hourly rate Intermediary retains control over client as jockey Opportunity for investment proposals to trustees Intermediary satisfaction measured annually N/A Zainap Behardien Tel: (021) Fax: (021) E-mali: zainap.behardien@sanlam.co.za Will services Sanlam Trust provides the following will services: Drafting of wills Revision of wills Safe custody of wills Intermediary can obtain a list from the web of all his wills already filed as well as of those wills that have not been signed yet Intermediary retains control over client Will clauses updated on a regular basis in line with latest legislation and case law Will application form available on line / DIF DIF paid on asset value of Will Asset value < R2,5 m Asset value > R2,5 m and < R7,5 m Asset value > R7,5 m No DIF payable on safe custody fee No DIF payable on revision of wills Bellville Gerrit Viljoen (021) Colleen Syster (021) Patricia Lindoor (021) Fax: (021) stwills@sanlam.co.za Debit order enquireis: stfin@sanlam.co.za Pretoria Henriette Botha Tel: (012) Fax: (012) stwills@sanlam National Ann Nel Tel: (021) Fax: (021) ann.nel@sanlam.co.za Vault Tel: (021) Fax: (021) stsafe@sanlam.co.za SanTrust program available to intermediaries to draft as well as revise wills One-stop-service to intermediary Will drafted by Sanlam Trust turnaround time 3 working days after receipt of all information Electronic acknowledgment of receipt after filing of signed will Regular revision notices for client base Quality and control limit risks Intermediary linked to client as jockey Intermediary can follow progress of drafting process on web

4 Administration of deceased estates Testamentary and External Estates Sanlam Trust administers estates mainly from two sources, namely: Where Sanlam Trust has been named as executor in the will of the deceased; and Where an external person/institution has been named as executor in the will of the deceased and is not in a position to administer the estate, or where no will has been drawn up naming a person/institution as executor. Sanlam Trust will administer these estates under power of attorney. Documents for reporting of estate available on the Sanlam Trust website Intermediary retains control over client as jockey payable on testamentary as well as external estates Upfront commission applicable to all estates > R7,5 million payable in 3 phases: Reporting phase = 10% (capped at R15 000) L & D phase = 25% Banking of executor s fee phase = 65% Formal quotation for administration of external estates within 24 hours after receipt of request Regular communication during administration process Intermediary satisfaction measured annually / DIF Calculated as a percentage of executor s fee on sliding scale (Applicable if discount in accordance with official scales. If not, commission scales may be adversely adjusted.) DIF is only calculated on the final commission amount on executor s fee of: R or less R R R R R R R R R R R R R R R (Estate value R ) Previous split + 15% on amount above R % DIF Previous split + 20% on amount above R % DIF Previous split + 25% on amount above R % DIF Previous split + 30% on amount above R % DIF Previous split + 35% on amount above R % DIF Previous split + 40% on amount above R % DIF Previous split + 45% on amount above R % DIF Previous split + 50% on amount above R % DIF 50% penalty on commission payment if will not revised and filed by ST beforehand for reporting of estate (excluding renouncements) if intermediary not jockey and if ST administers estate on asset value of: > R but < R > R Accepted outsourced estates with assets < R R500 R750 R500 If ST reports the estate, the intermediary s commission will be reduced with the above amount Bellville Karen Lotter (021) (021) karen.lotter@sanlam.co.za PE & Durban Vacant (031) (031) Pretoria Elna Pieterse (012) (012) Elna.pieterse@sanlam.co.za National Vacant (021) (021)

5 Trust services Sanlam Trust administers the following trusts where the company has been nominated as (co) trustee or where Sanlam Trust merely act as agent of the trustee (under power of attorney): Testamentary Trust created in terms of a Will that only takes effect after the death of the testator / testatrix Inter Vivos (Family) Trust is set up and registered during the lifetime of the settlor Guardian Sanlam Guardian Trust offers a solution for death benefits payable to minors. The benefit payable to a minor who was appointed as beneficiary on a policy will be paid to the guardian of the minor and failing a guardian to the Guardian Fund of the Master. It can therefore happen that the benefit will not be utilised in the best interest of the said minor. In order to prevent this a policy owner can nominate the Sanlam Trust Guardian Trust in favour of the minor in the policy. The benefit of the minor will then be managed by experts in a separate trust account to the sole advantage of the minor. Umbrella Trust where death benefits by unapproved funds such as group life insurance and policies are paid to. Charitable Trust which is classified in terms of the Income Tax Act as not liable to pay tax and adhere to specific requirements. Acceptance fee Guardian Trusts: Assets between: R R R R Above R Management fee - inter vivos trusts Management fee testamentary trusts DIF Investment commission Inter Vivos / Testamentary Zainap Behardien (021) (021) zainap.behardien@sanlam.co.za Guardian / Umbrella Madi Carstens (021) (021) madi.carstens@sanlam.co.za Ansie Wessels (Operational Officer) (021) (021) ansie.wessels@sanlam.co.za 25% of acceptance fee 40% of acceptance fee 50% of acceptance fee 10% of management fee 5% of Sanlam Trust s management fee for testamentary trusts received from 1 February 2015 with an value >R1,5m 30% of intermediary fee Payable directly by investment houses Intermediary retains control over client as jockey In the case of a Guardian Trust the intermediary on the policy automatically qualifies for commission when the trust account is opened for the beneficiary involved Opportunity for investment proposals to trustees Investment opportunities upon termination of trust Intermediary satisfaction measured annually

6 Administration of beneficiary funds As from 1 January 2009 Section 37C of the Pension Fund Act makes provision for the transfer of death benefits to a beneficiary fund. Sanlam Trust complies with all requirements and qualifies to act as a beneficiary fund administrator in terms of Section 13B of the Pension Fund Act on 12 February The intermediary will share in the acceptance fee imposed by Sanlam Trust in respect of each beneficiary for whom a fund account is opened. The intermediary will receive an investment opportunity upon termination of the fund account. level agreements between Sanlam Trust and the applicable Retirement Fund who will pay the benefits to the beneficiary fund are concluded. The involvement of the intermediary will provide an opportunity to have access to all the members of the specific fund. Tax services Sanlam Trust offers professional tax service to clients. Assistance with tax compliance mattters Guidance on the tax effect of transactions Attend to tax queries and the finalisation of tax disputes of trusts, individuals and estates Liaise with SARS on behalf of clients Keep clients abreast with legislative changes N/A National Tax Tessa Momphi Tel: (012) Acceptance fee assets between: R R R R Above R DIF Investment commission 25% of acceptance fee 40% of acceptance fee 50% of acceptance fee 30% of intermediary fee Payable directly by investment houses Madi Carstens Tel: (021) Fax: (021) madi.carstens@sanlam.co.za Ansie Wessels (Operational Officer) Tel: (021) Fax: (021) ansie.wessels@sanlam.co.za