Overview
This is Unit 1 of the "Trust Training Certificate" ("TTC") (version 2.0) training programme."
This eCourse is based on the recorded webinar session held on 9 April 2024. For participants who plan to take the TTC Part A Examination in December 2024, you should ensure you read the study guide and materials provided via the examination enrolment link.
In line with the Unit 1 study guide, this eCourse consists of two modules:
Module 1: Overview of Trusts
Module 2: Fundamental Principles and Structure of Trusts
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 Highlight
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.
Instructor / Speaker
Ross DAVIDSON
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.