Overview

This is Unit 10 of the "Trust Training Certificate" ("TTC") (version 2.0) training programme.

It consists of one module:
Module 16: Testamentary Issues - Wills

For details on the topics to be covered, please refer to the 'Content' section below.

If you wish to register for the full TTC (version 2.0) Part B Stream 1 Training Programme and Examination, click here. 

Objective

After completion of this module students will

1. Understand the importance of making a will;
2. Understand what is meant by testamentary capacity and be able to list the requirements for testamentary capacity;
3. Be aware of and explain the need for care in the drafting of a will in order to avoid disputes;
4. List the information to be contained in a will;
5. Understand the interplay between trusts and wills and be able to explain and compare the differences and where each is appropriate;
6. Explain the issues that arise with multi jurisdiction assets and explain the need for multiple wills;
7. Understand and explain the limitations of testamentary trusts/ standby trusts
8. Understand what constitutes a legal marriage and be able to elaborate the requirements;
9. Be able to list the key issues concerning the concept of ownership of property;
10. Understand the differences in pre-nuptial and post-nuptial agreements and be able to explain the legal protection provided under each instrument;
11. Understand how marital property is treated under trust and list the key points;
12. Be aware of important cases which influence marital dispute decisions of the Courts in Hong Kong and the concepts of express, resulting and constructive trusts; and
13. Be aware of cryptocurrencies' status in family trusts and matrimonial disputes

Content

1.      The reasons and need for making Wills and avoiding testamentary disputes

2.      Can a Trust be used instead of a Will to avoid Probate?

3.      The nature and use of limited Wills

4.      The usual content of Wills

5.      Information to be kept with Wills

6.      Multiple jurisdiction Wills and probating

7.      Testamentary trusts versus inter vivos trust

8.      Standby trusts

9.      Marriage and common law spouses/partnership relationships

10.   Community of property

11.   Post-nuptial agreements and pre-nuptial agreements

12.   Matrimonial property and express, resulting, constructive and family trusts

13.   Cryptocurrencies and family trusts and matrimonial disputes

Who should attend

This course is primarily designed for individuals who are interested in obtaining the "Trust Training Certificate" to qualify for the Hong Kong Trustees' Association Certified Trust Practitioner™ designation.

It is also relevant for individuals seeking a comprehensive understanding of the course subject matter and those planning to enter the Trust industry sector. 

Financial Incentive Scheme of the WAM Pilot Programme

This course has already been approved as an eligible course of the Financial Incentive Scheme for Professional Training (“the Scheme”) under the Pilot Programme to Enhance Talent Training for the Asset and Wealth Management Sector (“the Pilot Programme”). The Scheme aims to enhance the competency and professionalism of in-service practitioners within the asset and wealth management sector and to assist other practitioners within the financial services industry in acquiring the knowledge and skills required for entering the sector. Eligible applicants will be subsidised 80% of the course fees by the HKSAR Government upon satisfactory completion of the courses approved by Hong Kong Securities and Investment Institute, subject to a ceiling of HK$15,000. Hong Kong Securities and Investment Institute is appointed as the implementation agent of the Pilot Programme. Regarding the details of eligible criteria and application procedures, please refer to the dedicated web-site of the Pilot Programme (https://www.wamtalent.org.hk/).

Click here if you wish to register for full Part B Stream 1 training programme and examination.