What will you learn about?
Students will acquire detailed knowledge about administering estates with unique assets, including those operating a business or with assets or beneficiaries in foreign jurisdictions. Upon completion of the course students will be able to:
- Administer a portfolio of estates and trusts in accordance with the terms of governing documents, relevant law and corporate risk management policies and procedures
- Discuss investment guidelines for trustees
- Identify when specialists are required to guarantee authoritative service and advice, and at a reasonable cost
- Detail how to ensure proper valuation, retention and sale of farm assets
- Explain the details upon the death of an owner for each type of proprietorship, including “wind-up”, sale or continued operation of the business, the valuation process and tax consequences
- Identify issues that may arise when trust assets or beneficiaries reside in foreign jurisdictions
- Explain the methods used to gather information about active companies and evaluate their worth
- Outline the duties and restrictions imposed upon an executor in dealing with a business asset
ETM is one of the requirements for CSI’s MTI® Estate and Trust Professional designation. It can also be taken as a stand-alone course.
What is the course syllabus?
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Topics covered in this section are:
- Powers, Duties and Liabilities of the Trustee: A Review
of General Principles - Duties of the Trustee
- Powers of the Trustee
- Investment Powers
- Standard of Care in Investment Decision-making
- Impartiality Among Beneficiaries in Investment Decision-Making
- Setting an Investment Strategy
- Investment Policy Statement and Ongoing Review
- A Word About Executor Duties and Estates
- Appendix A: Common Law Province Legal Lists
- Appendix B: Presumed Sound Investments Under
the Quebec Civil Code - Appendix C: CABICA Legal for Life list
- Appendix D: Uniform Trustee Investment Act, 1997
- Appendix E: Summary of Provincial Trustee Investment Legislation
Topics covered in this section are:
- Conflict of Laws
- Domicile and Situs
- Intestate Succession
- Testate Succession (Common Law)
- Testate Succession (Civil Code of Quebec)
- The Hague Convention on Succession
- Trusts and the Conflict of Laws (Common Law)
- Trusts and the Conflict of Laws (Civil Code)
- The Hague Convention on Trusts
- Restrictions on Testamentary Freedom Under Foreign Law
- The New Law (Regulation (EU) No.650/2012
the “Succession Regulation”) - Conclusion
- Impact of Matrimonial Regime
- Establishing the Authority of the Executor or Trustee
- Multi-Jurisdictional Wills
- Beneficiaries Who Live Elsewhere
Topics covered in this section are:
- Sole Proprietorship
- Partnership
- Corporations
Topics covered in this section are:
- Review the Will
- Powers and Directions
- Buy/Sell and Partnership Agreements
- Powers to Postpone and Retain
- Other Powers
- Safeguard the Business
- A Note on Bookkeeping
Topics covered in this section are:
- Analysis of Financial Statements
- Review of Corporate Records and Income Tax Returns
- Obtaining Information from Knowledgeable People
Topics covered in this section are:
- Definitions of Value
- Valuation Approaches and Methods
- Valuation of Goodwill
- Minority Interests Versus Controlling Interests
Topics covered in this section are:
- Selling Business Assets and Interests
- Selling A Sole Proprietorship
- Selling a Partnership Interest
- Selling Shares in a Private Corporation
- Practical Matters
Topics covered in this section are:
- Duties of Directors
- Liability of Directors
- The Trustee as Shareholder
- Taxation of Business Interests
Topics covered in this section are:
- Chores—The First Question
- Types of Farms
- Immediate Action—Prior to Probate
- Records to be Kept
- Farmers and the Income Tax Act
Topics covered in this section are:
- Non-Traditional Assets
- Digital Assets
- Hedge Funds
- Commodities
- Real Estate
- Private Equity
- Collectibles
- How to Invest In Alternative Investments
- Commodities
- Real Estate
- Private Equity Structures
- Appendix A—Private Equity Investments
- Appendix B—Additional Notes on Investing in Hedge Funds
- Appendix C—Principal-Protected Notes:
Some Notes on Risks and Costs - Appendix D—Supplementary Information
on Investing in Commodities - Appendix E—Real Estate Syndication Types: Definitions
Topics covered in this section are:
- Historical Background
- Major International Equity Benchmarks
- Advantages and Disadvantages of International Investing
- Foreign Investment Vehicles
Topics covered in this section are:
- Identification of Risks
- Measuring Investment Risk
- Reducing Investment Risk Through Diversification
- Reducing Investment Risk Using Options
- Reducing Risk Using Futures Contracts
- Reducing Risk Using an Equity Monetization Strategy
- Reducing Risk Using Principal-Protected Notes
- Reducing Risk Using Segregated Funds
- Appendix A—Option Markets and Option Vehicles
- Appendix B—Equity Monetization
Topics covered in this section are:
- Types of Portfolio Solutions
- The Role of Portfolio Solutions in Client Investments
- Portfolio Solution Fee Structures
- Selection Criteria for Portfolio Solutions
- Monitoring and Evaluating Portfolio Solutions Performance
- Tax Considerations for Portfolio Solutions
- Overlay Management
- Appendix A: Two Benchmarks for Assessing Relative Returns
How will you learn?
CSI’s online learning system helps you meet your study goals. You’ll benefit from:
- Textbook readings available in PDF and printed format
- Course materials accessed through your computer or laptop
- Learning objectives that help you to keep the learning focused
- Online activities to help assess your progress, including review questions for each course module
- Online assistance from CSI’s academic support specialists