Wealth Management
Trust Training Certificate (TTC) - Unit 4: Other Estate Planning Vehicles (10th Cohort)
Overview
This eCourse will be accessible until 15 April 2023.
This is the Unit 4 of the training programme in pursuing the “Trust Training Certificate” (“TTC”).
This eCourse is developed based on the recorded webinar session on 13 April 2021. For participants who plan to take the TTC Part A Examination in April 2023, please ensure you read the latest version of study guide and materials provided via the examination enrolment link.
In line with the Unit 4 study guide, this eCourse consists of 2 modules.
Module 7: Other Estate Planning / Succession Vehicles
Module 8: Trust Protection Issues
Objective
On completion of the course, you will be able to:
1. Recognise the commonly used vehicles for estate planning other than trusts and foundations
2. Explain the key features of teach of these vehicles for estate planning (note particularly HK Holding company issues)
3. Describe how these vehicles are related to or compliment different type of trusts
4. Describe how a trust may be attacked
5. Understand the protections offered by
-Anti-forced heirship
-Non-enforcement of foreign judgements
-The use of an Employee Benefit Trust (“EBT”) to protect assets from a company’s creditors
6. Understand the following grounds for a claim against a trust’s assets on breakdown of marriage
-Sham trust
-The trust is a nominee arrangement
-The trust is a nuptial settlement; and
-The trust’s assets are a financial resource
Content
Module 7: Other Estate Planning / Succession Vehicles
1. Descriptions of the nature of
-Holding Companies with trusts (cover prohibition on trusts are shareholders of HK companies)
-Insurance & ILIT (requirements on changes to ILIT’s)
-Wills
-Pre-nuptial agreements
-Gits
-Loans
2. Uses and appropriateness in estate planning
Module 8: Trust Protection Issues
1. Third party creditors
2. Marriage breakdown protection issues (recent court cases)
3. Protection of accrued benefits e.g. share plans & under MPF
Who should attend
The course is primarily targeted to those who would like to pursue the "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.