Overview

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

This eCourse is prepared based on the recorded version of the webinar session held on 14 October 2024. For participants who plan to take the TTC Part B Stream 1 Examination at a later date, you should ensure you read the study guide and materials provided via the examination enrolment link.

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

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

Please note that only the full programme is eligible for WAM FIS reimbursement.

Objective

On completion of this eCourse, you will
- Understand the importance of making a will;
- Understand what is meant by testamentary capacity and be able to list the requirements for testamentary capacity;
- Be aware of and explain the need for care in the drafting of a will in order to avoid disputes;
- Be able to list the information to be contained in a will;
- Understand the interplay between trusts and wills and be able to explain and compare the differences and where each is appropriate;
- Be able to explain the issues that arise with multi jurisdiction assets and explain the need for multiple wills;
- Understand and explain the limitations of testamentary trusts/ standby trusts
- Understand what constitutes a legal marriage and be able to elaborate the requirements;
- Be able to list the key issues concerning the concept of ownership of property;
- Understand the differences in pre-nuptial and post-nuptial agreements and be able to explain the legal protection provided under each instrument;
- Understand how marital property is treated under trust and list the key points;
- 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
- 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.