Trusts and Estate Planning online course
The aim of this short course is to provide an overview of factors that are relevant to trusts in the context of estate planning. In this course, the role of trusts in the current legislative environment is reflected upon, different scenarios where trusts can be utilised are considered, and the advantages of using trusts in such situations are analysed. The impact of taxes as well as other risks, in relation to trusts, are considered. The course concludes with a brief look at the practical application of trusts in estate plans.
The course is aimed at enhancing the knowledge and application skills of financial planning students, financial planners, professional advisers and fiduciary practitioners who practice or specialise in the estate planning field, or who wish to gain exposure to trusts in an estate planning context.
The course is presented by Louis van Vuren, who is highly regarded in the field of estate planning and trust law. Louis is the CEO of the Fiduciary Institute of Southern Africa (FISA). He holds a BA, LL.B and LL.M from RAU (now the University of Johannesburg), an Advanced Certificate in Leadership from UCT and an Advanced Post-Graduate Diploma in Financial Planning (cum laude) from UFS. Louis is a CFP® licensee, a Fiduciary Practitioner (SA) (FPSA®), an advocate of the High Court of South Africa and a Trust and Estate Practitioner (TEP) with the international Society of Trust and Estate Practitioners (STEP). He is also the Director of Trust Services at Finlac, a fee-based financial planning practice.
Once you have successfully completed this course, you will be able to:
- Discuss the role of trusts in the current legislative environment.
- Describe the trust concept in brief.
- Reflect on key aspects pertaining to trusts, such as how a trust comes into being, the ownership of assets in a trust, the types of rights of the beneficiaries and the parties to a trust.
- Consider different scenarios where trusts can be used and the advantages of trusts in various contexts, including, amongst others:
- Estate pegging
- Protection of personal assets against business risks
- Protection of inheritances or interests of a minor
- Protection against exploitation
- Provision for spouse/ex-spouse/children
- As part of a business structure or as business vehicle
- Charitable purposes and philanthropy.
- Consider the taxation of trusts and trust beneficiaries as well as special trusts.
- Review the impact of the perceived “tax attack” on trusts, including the working and impact of sections 7 and 7C of the Income Tax Act, 1962, as well as section 3(3)(d) of the Estate Duty Act, 1955.
- Consider the abuse of the trust form and the difference between alter ego and sham trusts.
- Practically apply trusts in estate plans.
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