Wealth Management
[Webinar] Trust Training Certificate (TTC) (version 2.0) - Unit 1: Introduction to Trusts
Overview
This is Unit 1 of the "Trust Training Certificate" ("TTC") (version 2.0) training programme.
It consists of two modules:
Module 1: Overview of Trusts
Module 2: Fundamental Principles and Structure of Trusts
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 A training programme and examination, click here.
Objective
On completion of the course, learners should be able to:
(a) understand the nature of a trust
(b) identify the parties to a trust, including
• Settlor,
• Beneficiaries,
• Protector,
• Enforcer, and
• Trustees
(c) understand the roles and duties of each party to a trust
(d) explain why and how trusts are used
(e) understand the nature and duties of Trustees
(f) understand the extent of a Trustee’s liability and how far he may be relieved from it
(g) understand the extent of the liability of a Protector and the extent to which he too can be relieved from liability
(h) understand the nature and extent of the powers of Trustees
(i) recognise the language in which a trust may be framed and the form in which a trust may be created
(j) understand the key principles of the validity of a trust
Content
Module 1: Overview of Trusts:
1. What is a trust?
2. Structure of a trust with a holding company
3. Parties to a trust
• Settlor
• Beneficiaries
• Protector
• Enforcer
• Trustee
• Authorised persons
4. Why and how are trusts used?
• In estate planning
• For investment
• To provide employee benefits and retirement benefits
Module 2: Fundamental Principles and Structure of Trusts:
1. The duties of trustees
• Factors
• General duties of trustees
• Statutory duty of care
2. Trustees’ powers
• General factors
• Dispositive powers
• Administrative powers
3. Liability of trustees
4. Liability of protectors
5. Provision of information
6. Variation of trust
7. Termination of trust
8. Language form and validity
• Language
• Form
9. Governing law
• General factors concerning the governing law
10. Migration of trusts
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/).
Speaker/Course Instructor
Drawing on his experience working at leading corporate firms, Ross works with private clients requiring coordinated advice on their personal and business affairs. This typically involves combining with other lawyers to serve their tax planning, immigration, transactional, commercial, and dispute resolution needs.
Ross frequently deals with the establishment or restructuring of asset-holding structures, ranging from several million to billions of pounds in value, to achieve objectives such as succession planning, asset protection and tax efficiency. In particular, he works closely with settlors, beneficiaries, and trustees of offshore trusts to develop effective strategies for managing, preserving, and protecting their assets. He is currently appointed as an executive committee member of the Hong Kong Trustee Association.
Details
Click here if you wish to register for full TTC (version 2.0) Part A training programme and examination.