Family governance and the trust: A balancing act. 20 January 2022
The presentation is to show how family governance and trust administration sits side by side and assist each other for the benefit of the family.
Roelf Odendaal, Managing Director of Turnstone (Isle of Man) Limited.
Roelf was born and raised in South Africa as the youngest in a large Afrikaans/German family. An opportunity presented itself to start a trust company in Mauritius and he and his wife spend the next five years setting up and managing the business in Mauritius. In 2006, the family moved to the Isle of Man to set up and manage Turnstone Isle of Man. The Turnstone Group has served clients for more than 20 years as trustee and corporate service provider and Roelf has been responsible for the management of the group for the majority of the time.
Over the years Roelf has noted the damage wealth can do to a family. The world’s best trust deed, that was drafted with care and diligence, will not ensure that the family stays a cohesive unit. Finding an innovative solution became his life quest. His accounting and trust administration background combined with an MBA provided the academic foundation to find a solution. It was only after he completed STEP’s advance certificate in Family Business Governance that the solution became clear.
Currently Roelf manages Turnstone’s trust and corporate services solution as well as its multi-family office where families from around the world are helping to keep their families together by ensuring their succession plan is ground in a legal framework while the individual family members are prepared to step successfully into the family’s wealth.