Study the administrative, legal and tax filing requirements for estates and trusts. Understand both the executor and trustee viewpoints, as well as the duties involved in administering the property of those who are incapable of handling their own affairs.
This course is designed to be applicable to all provinces. Most provinces operate under Common Law. The one exception is Quebec which operates under the Civil Code. The study material distinguishes between provincial laws and you are expected to study the laws of your province of residence. You will be expected to answer exam questions based on your province of residence (common law or civil code).
- If you enroll online, please make sure to select Civil Code (Quebec) or Common Law (rest of Canada), based on your province.
- If you enroll using a hard-copy of the enrolment form, please make sure to indicate Civil Code (Quebec) or Common Law (rest of Canada), based on your province.
Who Should Enrol
Professionals working in the estate administration areas who wish to significantly increase their understanding of the functions and services provided by a trustee.
A Proactive Approach To Compliance
After completing this course, participants will be able to:
- Review documentation for new estate and trust accounts and open new accounts.
- Explain the various personal representative capacities in relation to the administration of the property of others.
- Differentiate between the types of bequests.
- Ensure the safekeeping of estate assets.
- Prepare statements with regard to inventory of assets and liabilities, estimates of revenue, schemes of distribution, and income paid and accrued.
- Prepare declarations of transmission and stock powers of attorney.
- Determine that accounts are administered in accordance with governing documents.
- Provide instructions to solicitors for application for Grant of Letters Probate or Letters of Administration (in Ontario Application for Certificate of Appointment of Estate Trustee with or without Will).
- Carry out trust accounting transactions including capital or revenue charges, receipts, fees and adjustments for estates and trusts accounts.
- Complete the filing requirements for Terminal T1 and trust returns as well as the calculation and remitting of withholding tax.
- Identify various types of investments available to trustees.
- Calculate executor's fees.
|Approximate Hours of Study**|
|Hours of Study||80 - 100 hours|
** In order to provide some guidance to course participants as to the length of time it will take to be sufficiently prepared to write the final examination, CSI has prepared this estimate of the number of hours an average participant could possibly expect to spend studying for a course. Please note that these are only recommended hours of study developed based on research and our course content, however, this does not mean that some students with exceptional backgrounds would not take less time than recommended or that students with no background at all in finance or economics would not take longer than the maximum.
(weightings are approximate)
|Estates, Trusts & Agencies||8%|
|Introduction to Taxation of Estates & Trusts||10%|
|Legal Representation (Common Law) or The Administration of the Property of Others (Civil Code)||5%|
|Introduction to Investing||10%|
|Estate & Trust Accounting||15%|
|Exam Format||Paper Based|
|Exam Length||3 Hours|
|Question Format||Multiple Choice|
|Questions Per Exam||100|
|Attempts Allowed Per Exam||3*|
|Enrolment Period||1 year †|
*There is no charge for your first attempt at a paper-based exam within Canada, as long as it's at a regular exam center and you provide a minimum of 14 days notice before the date that you want to write the exam. If you would like to write a computer-based exam, an additional fee will be required.
Each subsequent paper-based exam attempt at a regular exam centre within Canada will also require an additional fee. This fee is in addition to any special, computer-based or international fees that may apply. You must provide a minimum of 14 days notice within Canada at a regular exam centre and 4 weeks notice for all other centres. Please note that the date of the exam is not part of any notice period.
†Please note: Access to your online materials will close 2 weeks after successful course completion or course expiry (whichever comes first). This course can be extended by 1 year provided you have not exceeded the attempts allowed for each exam. You can view CSI extension fees here. Your enrolment period can only be extended one time.
Important: During a student's enrolment period, CSI may update this course. In that case, details about the update and how it may affect students will be posted online via My CSI. Students are held responsible for and are examinable on the content in the course textbook(s) provided at the time of enrollment unless stated otherwise in My CSI. Students are encouraged to check My CSI regularly throughout their enrolment period.
Click below to access CE accreditation information for this course. To search for specific course information, click the icon or press the ctrl key & F key at the same time and enter the course name to search the document for the information you are interested in.
Continuing Education Credits
National/Provincial (Excluding Quebec)
Download CE Chart (PDF, 163 kb)
Download IQPF/CSF Chart (PDF, 182 kb)
Please note: While CSI makes every effort to ensure that the information is up-to-date, we are unfortunately unable to fully guarantee its accuracy. The information listed in the charts above may be subject to change.
For details on the organizations and other information on CE Credits listed in the above charts, please click here.
SHIPPING & HANDLING
- Non-electronic course materials will ship within 5 business days of purchase
- Electronic course materials will be available immediately upon purchase
- Shipping costs vary by location & will be displayed on the final screen of check out
- Shipping and handling fees will apply to all orders that include textbooks.
Corporate discounts may apply. Please be sure to identify your employer during the enrollment process or contact your human resources or training department to determine eligibility. Discounts will be applied during the enrolment process.