Micro Learning Course :Trusts Beyond:The Importance of Considering all Risks and Benefits


Duration: 8 Hours

Price: R1782.00

Video Type: Series

Trusts
...

Micro Learning Course :Trusts Beyond:The Importance of Considering all Risks and Benefits

Duration: 8 hours

Price: R1782.00


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Micro Learning Course :Trusts Beyond:The Importance of Considering all Risks and Benefits


Overview

Trusts are widely considered to be effective planning vehicles that provide several benefits. Considering legislative changes in recent years and court judgments impacting trust law, it is now imperative to consider all the legal and administrative risks affecting trusts. 

In this comprehensive trust short course, we will provide a full perspective on the critical legal and governance aspects to be considered by the various parties involved in trusts: The donors, beneficiaries, trustees, financial planners, tax advisors and accountants.

This Trusts Beyond short course consists of four parts:

Recording 1: Trusts: Get the Basics Right

Recording 2: Trusts: Important Short and Long-Term Risks and Benefits

Recording 3: Risks for Trustees and Tax Practitioners in Trust Administration

Recording 4: Specific Tax Risks Related to Trusts


Short course content

Trusts: Get the Basics Right (Part 1)

What are the consequences for trustees and beneficiaries?

  • How can a trust be used as a planning tool?
  • Protection of Personal Information Act (POPIA) and Promotion of Access to Information Act (PAIA) on trusts.
  • Trusts vs usufructs.
  • Acquisition of fixed property: Structuring the transaction in a trust versus company (cost versus benefit).
  • Trusts: Planning for estate duty and asset protection for future generations.
  • Business trusts.
  • Special trusts.
  • B-BBEE trusts.
  • How can a trust be terminated if no longer advantageous?
    • Process to be followed.
    • Beneficiaries’ rights and responsibilities.
    • Trustees’ rights.
    • Consequences for donors.
    • Tax consequences on terminating a trust.
  • What are the section 7C considerations that must be considered?

Trusts: Important Short and Long-Term Risks and Benefits (Part 2) 

  • What are the practical issues that arise when a trust is formed and when assets are put into the trust?
    • Consequences when the initial donation is not made.
    • Documentation required when assets are subsequently put into a trust.
    • Donations or loans? Risks and benefits associated with each.
  • Contracts: When are contracts involving a trust void?
  • How important is it to identify and properly describe beneficiaries?
    • The risks attached to a testamentary trust.
    • Vested rights vs discretionary rights: Risks and benefits of each.
  • What practical issues arise from amendments to a trust?
    • When are amendments invalid?
    • How can a Trust Deed be amended? 
  • Amendment in terms of Law of Contract.
    • Amendment in terms of the Trust Deed.
    • Master’s Directive on Deed of Amendments.
  • What are the inescapable consequences when there is a valid trust?
  • Sham trust vs alter ego trust:
    • The difference between a sham trust and a alter ego trust.
    • Pointers to avoid an alter ego/sham.

Risks for Trustees and Tax Practitioners in Trust Administration (Part 3) 

  • General trust administration: What is required?
    • Taking decisions: Resolutions, statutory approvals that must be in place.
    • Reliance on advice.
    • Decisions taken, i.e., signing off AFS without all trustee’s approval.
    • Bank accounts movements.
    • Movements in journals without proper resolutions.
  • What are the practical issues relating to trustees?
    • Duties and responsibilities.
    • Accountant acting as independent trustee: Risks and liability considerations.
    • Compliance requirements and documents to be maintained.
    • Dealing with conflict interpreting a trust deed.
    • Meetings of trustees and notice thereof.
    • Who can remove a trustee?
    • Alternate trustees and proxies: Are these legally possible?
    • Importance of timeous and valid trustee resolutions.
    • Personal liability for tax debts of the trust.

Specific Tax Risks Related to Trusts (Part 4) 

What tax risk areas are relevant to trusts and how can it be mitigated?

  • Tax considerations of income retained in a trust.
  • Apportionment of trust revenue and expenses for tax purposes.
  • Tax considerations of income distributed to beneficiaries.
  • Attribution of income and capital.
  • Section 7C complications.
  • Tax considerations of offshore trusts.
  • Tax considerations for non-resident beneficiaries.

Who should attend?

Tax practitioners, tax managers, financial managers

What's Included:

Trusts Beyond 2021: Get the Basics Right (Part 1)

Overview What are the consequences for trustees and beneficiaries? How can a trust be used as a planning tool?  Protection of Personal Information Act (POPIA) and Promotion of Access to Information Act (PAIA) on trusts. Trusts vs us ufructs. Acquisition of fixed property: Structuring the transaction in a trust versus company (cost versus benefit). Trusts: Planning for estate duty and asset protection for future generations. Business trusts. Special trusts. B-BBEE trusts. How can a trust be terminated if no longer advantageous? Process to be followed. Beneficiaries’ rights and responsibilities. Trustees’ rights. Consequences for donors. Tax consequences on terminating a trust. What are the section 7C considerations that must be considered? Who should attend? Tax practitioners, tax managers, financial managers


2 Hours | R495.00
Prof Walter Geach

Trusts Beyond 2021: Important Short and Long-Term Risks and Benefits (Part 2)

Overview Trusts are widely considered to be effective planning vehicles that provide several benefits. Considering legislative changes in recent years and court judgments impacting trust law, it is now imperative to consider all the legal and admi nistrative risks affecting trusts.  In this comprehensive trust series, we will provide a full perspective on the critical legal and governance aspects to be considered by the various parties involved in trusts: The donors, beneficiaries, trustees, financial planners, tax advisors and accountants. This Trusts Beyond 2021 series consists of four parts (each webinar can be attended independently): Webinar 1: Trusts: Get the Basics Right Webinar 2: Trusts: Important Short and Long-Term Risks and Benefits Webinar 3: Risks for Trustees and Tax Practitioners in Trust Administration Webinar 4: Specific Tax Risks Related to Trusts Click here to view the full series. Webinar content Trusts: Important Short and Long-Term Risks and Benefits (Part 2) – 9 November 2021 What are the practical issues that arise when a trust is formed and when assets are put into the trust? Consequences when the initial donation is not made. Documentation required when assets are subsequently put into a trust. Donations or loans? Risks and benefits associated with each. Contracts: When are contracts involving a trust void? How important is it to identify and properly describe beneficiaries? The risks attached to a testamentary trust. Vested rights vs discretionary rights: Risks and benefits of each. What practical issues arise from amendments to a trust? When are amendments invalid? How can a Trust Deed be amended?  Amendment in terms of Law of Contract. Amendment in terms of the Trust Deed. Master’s Directive on Deed of Amendments. What are the inescapable consequences when there is a valid trust? Sham trust vs alter ego trust: The difference between a sham trust and a alter ego trust. Pointers to avoid an alter ego/sham. Who should attend? Tax practitioners, tax managers, financial managers


2 Hours | R495.00
Prof Walter Geach

Trusts Beyond 2021: Risks for Trustees and Tax Practitioners in Trust Administration (Part 3)

Overview Trusts are widely considered to be effective planning vehicles that provide several benefits. Considering legislative changes in recent years and court judgments impacting trust law, it is now imperative to consider all the legal and admi nistrative risks affecting trusts.  In this comprehensive trust series, we will provide a full perspective on the critical legal and governance aspects to be considered by the various parties involved in trusts: The donors, beneficiaries, trustees, financial planners, tax advisors and accountants. This Trusts Beyond 2021 series consists of four parts (each webinar can be attended independently): Webinar 1: Trusts: Get the Basics Right Webinar 2: Trusts: Important Short and Long-Term Risks and Benefits Webinar 3: Risks for Trustees and Tax Practitioners in Trust Administration Webinar 4: Specific Tax Risks Related to Trusts Click here to view the full series. Webinar content Risks for Trustees and Tax Practitioners in Trust Administration (Part 3) – 11 November 2021 General trust administration: What is required? Taking decisions: Resolutions, statutory approvals that must be in place. Reliance on advice. Decisions taken, i.e., signing off AFS without all trustee’s approval. Bank accounts movements. Movements in journals without proper resolutions. What are the practical issues relating to trustees? Duties and responsibilities. Accountant acting as independent trustee: Risks and liability considerations. Compliance requirements and documents to be maintained. Dealing with conflict interpreting a trust deed. Meetings of trustees and notice thereof. Who can remove a trustee? Alternate trustees and proxies: Are these legally possible? Importance of timeous and valid trustee resolutions. Personal liability for tax debts of the trust. Who should attend? Tax practitioners, tax managers, financial managers


2 Hours | R495.00

Trusts Beyond 2021: Specific Tax Risks Related to Trusts (Part 4)

Overview Trusts are widely considered to be effective planning vehicles that provide several benefits. Considering legislative changes in recent years and court judgments impacting trust law, it is now imperative to consider all the legal and admi nistrative risks affecting trusts.  In this comprehensive trust series, we will provide a full perspective on the critical legal and governance aspects to be considered by the various parties involved in trusts: The donors, beneficiaries, trustees, financial planners, tax advisors and accountants. This Trusts Beyond 2021 series consists of four parts (each webinar can be attended independently): Webinar 1: Trusts: Get the Basics Right Webinar 2: Trusts: Important Short and Long-Term Risks and Benefits Webinar 3: Risks for Trustees and Tax Practitioners in Trust Administration Webinar 4: Specific Tax Risks Related to Trusts Click here to view the full series. Webinar content Specific Tax Risks Related to Trusts (Part 4) What tax risk areas are relevant to trusts and how can it be mitigated? Tax considerations of income retained in a trust. Apportionment of trust revenue and expenses for tax purposes. Tax considerations of income distributed to beneficiaries. Attribution of income and capital. Section 7C complications. Tax considerations of offshore trusts. Tax considerations for non-resident beneficiaries. Who should attend? Tax practitioners, tax managers, financial managers


2 Hours | R495.00
Carmen Westermeyer

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