Those employees who have recently joined the trust department in support positions, non-trust personnel within the bank who work with trust officers and trust clients, as well as employees of service providers to trust companies who want to develop a better understanding of their clients’ business needs.
After successfully completing this program, you will be able to:
• Determine what an estate is
• Understand the estate planning process
• Explain federal estate taxation
• Distinguish between personal and real property
• Compare forms of property ownership
• List the methods of property transfer
• Contrast the forms of business ownership
• Distinguish types of trusts
• Compare testamentary and living trusts
• Describe the characteristics of a good trustee
• Describe the reasons for creating an irrevocable trust
• Explain the structure of an A/B trust plan
• Recognize the mechanics of an irrevocable life insurance trust
• Contrast the various types of charitable trusts
• Describe the dispositive provisions of a trust before and after the grantor’s demise
• Analyze trustee vacancy and co-trustee considerations
• Understand the execution of a trust and proof of a trust’s existence
• Define and use the terms that appear in bold in the text
CFT
