Fundamentals of Trusts

If you are in any financial profession, chances are likely that you will come across trusts when working with your clients.  A trust is a simple concept to grasp, however, it gets complicated very quickly thanks to all the Income Tax provisions that apply to trusts.

Having a good foundational understanding and knowledge of trusts is crucial.

Trusts can play a vital role in a client’s planning, but it can also be detrimental.  There have been numerous changes to trust law, making it important for clients’ trusts to be reviewed regularly to ensure they still comply.

The Fundamentals of Trusts program is your first step into the world of trusts.

What to expect

This program focuses on the structure of a trust and in particular Income Tax and how specific sections work together to determine who is liable for tax.  This program will equip you to do the following:

  • Choose the correct type of trust for a specific need
  • Apply the anti-avoidance provisions contained in Section 7 of the Income Tax Act
  • Apply Section 25B of the Income Tax Act
  • Apply Section 7C of the Income Tax Act

As part of the program, you will receive:

  • Fundamentals of Trusts 2019 Training Manual (PDF Download)
  • Video Lessons
  • Examples to help you understand the concepts more easily
  • Challenges to help you gauge your progress
  • Downloadable cheat sheets

For a full breakdown of the program, see the syllabus below.

Learning Outcomes / Objectives

  • Correct structuring of a trust
  • Different types of trusts and their use
  • Importance of managing trusts
  • Responsibilities of trustees
  • Vested rights and their implications
  • Important tax aspects related to trusts
  • Loans to trusts by connected persons
  • Requirements to deregister a trust
  • Costs associated with managing and running a trust

Pre-requisites

  • Basic understanding of Income Tax will be beneficial;
  • Basic understanding of the concept of a trust will be beneficial;
  • Eagerness to learn.

Who must enroll in the course

  • Financial Planners & Advisers;
  • Accountants
  • Bookkeepers
  • Tax Consultants
  • Business Owners
  • Broker Consultants who want to provide enhanced value to their panel;
  • Paraplanners;
  • Sales and Branch Managers;
  • Franchise Principals;
  • Key Individuals;
  • Support staff that helps with the Financial Planning process;
  • Students studying an NQF5, 6, 7 or 8 qualification in Wealth Management / Financial Planning.

Difficulty Level

The program starts off with some basics and it quickly builds from there to an intermediate level.

The program is rated as Beginner/Intermediate, as it is aimed at laying a solid foundation and a basic understanding of the subject.  You will greatly benefit from this course and have more knowledge and skills to grow your practice and to increase the value you offer your clients. 

CPD Points

CPD can be claimed for all our programs.  Our programs comply with all the requirements for Fit and Proper with the FSCA as well as the Financial Planning Institute.  Therefore, CPD may be claimed for both purposes.

  • Earn 1 CPD point for event participation (knowledge) when you successfully complete the course.
  • Earn 0.5 CPD points for completing all recap challenges.
  • Total Verifiable CPD points on successful completion:  1.5
  • Approval number:  FPI190400183

Not sure yet if the course is for you?

  • Take the free lessons provided
  • Look for the green “FREE” icon in the lesson description below
  • Click on the lesson and enjoy!
  • No need to enroll
  • No need to register
  • Still not sure?  Please contact us to discuss your concerns
  • Also, check out our Frequently Asked Questions where we answer questions we receive most often

 

Course Information

Difficulty: Beginner / Intermediate

Course Instructor

Renate Jute, CFP® Renate Jute, CFP® Author

Renate has been involved in the financial field for over 20 years and entered the specialised fields of Trust administration and accounting in 2001. She joined a start-up in this field in 2006 where they started with 30 clients and 2 staff. By 2008, they have expanded to 5 offices nationwide. In 2009 Renate co-founded another Trust accounting company, which at the time of her departure was regarded as the largest trust accounting firm in SA, with over 2000 active trusts under administration. She founded Noble Prosperity in 2017 where her focus is more personal and geared towards education of financial planners, accountants and the prosperity of business owners. Renate's qualifications and accreditations include Bachelor’s Degree in Psychology, Post Graduate in Certified Financial Planning, Registered Tax Practitioner, Certificate in Administration of Deceased and Insolvent Estates, Internationally Accredited Life & Business Coach, and Certificate in Taxation.

Fundamentals of Trusts

R850.00

Overview                                                        

Management of Trusts

Taxation of Trusts

Loans by Connected Persons

Other Important Aspects

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