The Trust is an excellent tool to protect assets, avoid probate, increase personal privacy, and minimize taxes. However, TRUSTS are under-used and frequently misunderstood. This is not surprising when you consider the scarcity of written material on the subject.
A trust essentially comes into existence when one person (the creator, Settlor or Founder of the trust) hands over property and control of property to another (the Trustee) to be administered for the benefit of some person or persons other than the Trustee in pursuance of an impersonal object.
If a trust is not formed or administered correctly, it can create a nightmare that acts against the very reason for forming it in the first place.
When setting up a trust, making sure that a valid legal structure is created is vital as well as to understand the nature of the trust, the duties of the trustees and the rights of the beneficiaries.
Content Discussed:
- What is a Trust and what is it used for?
- How is a Trust Created? Registrations?
- How do you manage it? Tax Administration Formalities
- Contracts with Trusts
- How do you determine the tax residency of a trust?
- Place of incorporation
- Place of effective management
- DTA - Double Taxation Agreements
- Why are trusts so infamous for tax purposes?
- Different types of Trusts
- Parties to a Trust
- What are the potential advantages and disadvantages of establishing an Inter Vivos Trust?
- Trustees & Beneficiaries
- Assets of the Trust
- What assets can be part of a Trust?
- Who owns the assets in the Trust?
- When can the Trust Assets be Distributed?
- Estate-pegging Opportunities (Section 7C problem)
- Tax Considerations
- Offshore Trusts
- Trust owning shares in a company or close corporation
About The Presenter:
All Included:
- Video presented course
- Downloadable course material
- Certificate of training
- SAIT Accredited - 2 verifiable CPD points