Programs & Courses

Use of Trusts in Tax and Estate Planning

Investment & Retirement, Succession & Estate Planning

By:

Use of Trusts in Tax and Estate Planning

Trusts are used on an ever-increasing basis to plan for wealth and succession objectives for medium and high worth clients. The advisor who can assist with that process enjoys the oppor­tunity to nail down a long-term, potentially intergenerational connection to the client and their family.

CONTENT DESCRIPTION AND KEY CONCEPTS:

Every financial advisor who discusses tax, financial or investment plans with clients should have a basic understanding of the taxation of trusts in order to discuss estate planning options with clients. This course provides a detailed primer in the subject area featuring common true to life scenarios.

CERTIFIED SKILLSETS. Using a case study approach, you will learn

  • How to explain trusts in basic terms to clients, and to under stand basic trust workings.
  • How to reduce income taxes using charitable remainder trusts, estate freezes, and testamentary trusts.
  • How to avoid probate fees using alter ego trusts and RRSP trusts.
  • How to protect children from gold-diggers, protect wealth from creditors and protect beneficiaries from poor financial judgment using control designed trusts.
  • How to help clients help their disabled beneficiaries.
  • How to identify opportunities and needs for insurance products as part of trust planning.
  • How to become part of a succession planning team that advises the next generation.

KNOWLEDGE BUREAU TOOLS INCLUDED:

  • EverGreen Explanatory Notes
  • Knowledge Bureau Calculators
    • Income Tax Estimator
    • Marginal Tax Rate Calculator
    • Registered vs. Non-Registered Savings Calculator
    • Tax-Efficient Retirement Income
  • Key Trust Planning Questions
  • Tip Sheet on Nation Wide Probate Fees
  • Glossary of Key Concepts

MARKS ALLOCATION:

Quizzes 60%
Case Studies 15%
Final Exam 25%
Passing Grade 60%
Honours Achievement 90%

 


CE Credits

CE Credits
Knowledge Bureau 30 CPE credits

Table of Contents

Chapter 1:
Basic Trust Mechanics
Chapter 2:
Trusts as Mechanisms to Exert Control
Chapter 3:
Documentation to Create a Trust
Chapter 4:
Basic Tax Treatment
Chapter 5:
Testamentary Trusts
Chapter 6:
Inter Vivos Trusts
Chapter 7:
Charitable Remainder Trusts
Chapter 8:
Alter Ego and Joint Partner Trusts
Chapter 9:
Insurance Trusts
Chapter 10:
RRSP Trusts
Chapter 11:
Spendthrift Trusts
Chapter 12:
Spousal Trusts
Chapter 13:
Trusts for Disabled Beneficiaries

What Graduates Say

This course provides an extensive knowledge about the use of trust in tax and estate planning and is to be recommended as part of a background for a tax professional. It clearly spelled out the structure, advantages and disadvantages of each type of trust. The study cases give a valuable insight into handling a variety of situations where the establishment of a trust is warranted. Halina S., AB
This is a very broad and specialized area. This course touched on the key areas and provided a good basis for further research and study...There is a natural transition from preparing T-1's the T-1(70)1 Terminal, to Trusts T-3's. The aging population and baby boomers means we are going to see more and more of this kind of work. The planning and application of Trusts will become more and more applicable to the knowledgeable planner and Tax Preparer professional. Terry C., BC
Would you recommend this course to a friend? Yes, the information is appealing, fresh and leads one to new business opportunities. Laura F., ON