Compliance, Legislative & Regulatory Standards
Trust Training Certificate (TTC) - Unit 9: The Contents of Trusts and Drafting (4th Cohort)
Overview
This eCourse will be accessible from 9 August to 4 December 2021.
This is Unit 9 of the training programme in pursuing the “Trust Training Certificate”.
This eCourse is developed based on the recorded webinar session of Unit 9 held on 21 April 2021. For participants who will take the TTC Part B Examination in December 2021, please 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: Drafting Provisions Required for Non Discretionary Trusts
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. 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: Drafting Provisions Required for Non Discretionary Trusts
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.