Trust Training Certificate (TTC) - Unit 9: The Contents of Trusts and Drafting (eCourse)

Trust Training Certificate (TTC) - Unit 9: The Contents of Trusts and Drafting (eCourse)

Overview

This eCourse will be accessible from 20 July 2020 to 23 August 2020.

This is Unit 9 of the training programme in pursuing the “Trust Training Certificate”.

This eCourse is developed in relation to the special arrangement for the participants joining the TTC Part B training in June and July 2020. It is prepared based on the recorded version of the last class (face-to-face mode) of Unit 9 done on 15 May 2019. For the participants who will take the TTC Part B Examination in August 2020, you should ensure you read the latest version of study guide and materials provided via the examination enrolment link.

It consists of two modules:
Module 13: Drafting and Important Deed Provisions
Module 14: Variations Required to a Discretionary Trust when Drafting

In each module, you must watch the recorded video and then pass the assessment (with unlimited attempts).

Objective

On completion of the course, you will be able to:
1. Understand the specific drafting issues required for specific types of trusts and why these are important.
2. Understand the key features of jurisdictions commonly adopted for trust structures.
3. Explain the reasons for selection of a specific jurisdiction given the drafting advantages or disadvantages.
4. Understand the differences required for various aspects of discretionary trusts for specific purposes.
5. Understand the requirements for different jurisdictions.
6. Be able to define the key requirements in the drafting for the various types of trusts and their purposes.

Content

Module 13: Drafting and Important Deed Provisions
1. A review of the usual provisions for:
(a) Discretionary trust;
(b) Protective trust;
(c) Fixed interest trust;
(d) Accumulation and Maintenance Trust;
(e) Foreign Grantor Trust; and
(f) Granny Trust.
2. The choice of Trustee
3. Choosing the jurisdiction of the proper law
4. Reasons for selection of a particular jurisdiction to achieve specific objective for estate planning

Module 14: Variations Required to a Discretionary Trust when Drafting
Variations required to a discretionary trust when drafting:
(a) A Charitable Trust;
(b) A Non-Charitable Purpose Trust;
(c) A Reserved Power Trust;
(d) A VISTA / LST / SISTA;
(e) A Trust to be combined with a Limited Partnership; and
(f) Special provisions need to be included in a Limited Partnership Agreement to be combined with a Trust.

Who should attend

The course is primarily targeted to those who would like to pursue “Trust Training Certificate” in order to apply for the Hong Kong Trustees’ Association Certified Trust Practitioner™ designation.


It is also relevant to those who would like to gain a solid understanding of the course subject matter and / or those who plan to enter the Trust industry sector.

 

Special remarks:

The course is NOT eligible for the financial incentive schemes of the WAM Pilot Programme.

Speaker/Course Instructor

Bill AHERN
William Ahern, Principal, AHERN LAWYERS

William has over 30 years’ experience in Hong Kong and elsewhere in Asia in helping families deal with complex tax, succession and legacy issues. William was admitted as a solicitor in Brisbane in 1980 and England, Wales and Hong Kong in 1988. He was the trust and tax partner at Hong Kong law firm, Deacons between 1990 and 1994. He lived and worked in Brisbane between 1994 to 1999 where he continued to represent Hong Kong families and law firms and a Jersey Trust Company specialising in cross-border tax and succession planning. After returning to Hong Kong in 1999, William worked as a consultant to a private client specialist law firm, the Director of Trust and Legal Affairs of an international trust company, and between December 2002 and June 2008, as Managing Director of HSBC Private Bank’s strategic tax advisory arm. He went back into practice as a Hong Kong solicitor in November 2016 and his firm became formally associated with Haldanes in April 2017.

Details

Code
TERCR20010901
Venue
ePlatform
Language
English
Level
Introductory
Hours
SFC:3.00, PWMA:3.00, HKTA:3.00
Fees
All (Member & Non-Member): HK$1400