Overview

This is Unit 2 of the "Trust Training Certificate" ("TTC") (version 2.0) training programme.

It consists of two modules:
Module 3: Types of Trusts and their uses
Module 4: Retention of Control

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) Recognise the common types of trusts for estate planning purposes
(b) Recognise the common types of trusts for investment purposes
(c) Recognise the common types of trusts for employee benefits purposes
(d) Appreciate the limitations of certain jurisdictions for some types of trusts
(e) Recognise the common types of trusts if retention of control is a key consideration of the Settlor
(f) Explain how these types of trusts could provide for retention of control by the Settlor or others and why
(g) Recognise which jurisdictions offer the solutions
(h) Elaborate common applications, e.g. reserved power trust, VISTA
(i) Identify the problems with retention of control trusts

Content

Module 3: Types of Trusts and their uses:
1. Fixed interest trusts
2. Protective trusts
3. Discretionary trusts
4. Charitable trusts
5. Non-charitable Purpose trusts (“NCPT”)
6. Revocable and Irrevocable trusts
7. Employment benefit trusts (“EBT”)
8. Pension trusts
9. Bare trusts and declarations of trust
10. Unit trusts
11. Resulting trusts and constructive trusts

Module 4: Retention of Control:
1. Reserved power trusts
2. Private trust companies (“PTCS”)
3. Special types of trusts (VISTA, LST and SISTA)
4. Case studies

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 TTC (version 2.0) Part A training programme and examination.