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Course Certificate in Trusts

Overviewnew


This brand new 2 day course, presented by two popular CLT presenters, has been designed with the aim of equipping private client practitioners with all the knowledge they need to tackle the topic of trusts with confidence. Suitable for trainees, newly qualified solicitors, those requiring a refresher and anyone who needs to be confident in providing advice relating to trusts, this course covers trusts from start to finish; from deciding upon the most appropriate form of trust for the client’s needs, right through to the distribution to the beneficiaries.

Under the new SRA Competence Statement, amongst other things, solicitors need to show they can ‘maintain the level of competence and legal knowledge needed to practise effectively, taking into account changes in their role and/or practice contexts and developments in the law’, ‘draft documents which are legally effective and accurately reflect the client’s instructions’ and ‘plan manage and progress legal cases and transactions’. Rest assured, this course will help you demonstrate competency in these areas.

Day one

Topics covered include:

  • Aims and purposes of trusts
  • What type of trust?
  • Traps and pitfalls
  • Powers and duties of trustees
  • The rules against perpetuities and excessive accumulations
  • Administrative provisions post Trustee Act 2000; what needs to be included or excluded
  • Trustees duty of care; exoneration clauses
  • Administering the trust effectively; trustee meetings, accounts
  • Key events; appointment and retirement of trustees, appointment and advancement of trust funds, variation of trusts
  • Breach of trust
  • Trustee liability and overview of litigation
  • Termination of the trust; death of beneficiary, achieving contingencies, by exercise of trustee powers, apportionment, tax issues
  • Checklist prior to completion/closure of trust
  • Case studies covering different situations and different types of trust – what trust should be used in which circumstances? What is the impact of distributions?
Day two

Day two begins with a focus on the whole range of taxes: Income Tax, Capital Gains Tax and Inheritance Tax, with the emphasis on clear and practical explanations of this complex area and moves on to look at trusts in a financial planning context.

Income Tax and CGT

The calculation of tax payable on trust income and the burden of this tax on trustees and beneficiaries is often difficult to understand and even more difficult to explain. This part of the course will cover:

  • The respective liabilities of trustees and beneficiaries with a particular focus on Life Interest versus Discretionary Trusts
  • The treatment of dividend income
  • Issues arising on company distributions
  • Life assurance gains and income tax
  • The special problems arising from settler interested trusts
  • Impact of CGT on trustees and beneficiaries
  • Actual and deemed gains
  • The availability of holdover, entrepreneurs and principal private residence relief
  • The ways in which liability can be minimised or avoided
IHT

The provisions of Finance Act 2006 made major changes to the IHT treatment of trusts. This part of the course examines the rules for both interest in possession trusts and those trusts which are subject to the Discretionary Trust (relevant property) regime, whether created in lifetime or by will, and then goes on to consider how IHT is calculated for all types of trust. The course covers:

  • Returns
  • Charging provisions interest in possession trusts and other privileged trusts
  • Relevant property trusts charging provisions
  • Entry charges
  • 10 year (periodic) charges
  • Exit charges
  • Examples of calculations
  • Issues around life policy trusts, pilot trusts and discounted gift trusts
  • Planning Issues and use of reliefs
Trusts and Financial Planning:
  • Types of trust and uses
  • Trusts for testator’s family and children
  • Accumulations of income
‘Wonderful speaker; one of the best I’ve seen’ (Leon Pickering)

‘Fantastic speaker - really impressed. Felt it was a valuable investment of my time.’ (Nick Shaw)

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Details


Type
Course
Level
Foundation
CPD
1 hours
SRA

Fees


£35.00
Package Price
Click here for details

£960.00
Non Member

(Excluding VAT)

Speakers


Leon PickeringDetails
Nick ShawDetails

Brochure


Download

Book

2 Day Course
Tue 05 Sep 2017
Wed 06 Sep 2017
Book
09:30 | London
Leon Pickering
Nick Shaw

2 Day Course
Wed 22 Nov 2017
Thu 23 Nov 2017
Book
09:30 | Manchester
Leon Pickering
Nick Shaw

2 Day Course
Mon 27 Nov 2017
Tue 28 Nov 2017
Book
09:30 | Birmingham
Leon Pickering

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