Introduction to Trust Products and Services
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AIB Course Code: 8262
Course Length: 5 weeks
Course Description:
Introduction to Trust Products and Services is a foundational, skill building course for trust professionals. It will help new trust professionals understand the fundamentals of the business, how a trust works, the types of assets commonly held in a trust and the basics of estate planning. The course describes the personal trust document and the process by which trust officers establish a trust for their clients.
Audience:
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 employes of service providers to trust companies who want to develop a better understanding of their clients' business needs.
Learning Objectives:
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 cotrustee 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
Textbook:
Trust Basics: An Introduction to the Products and Services of the Trust Industry, 4th Edition, 2008, ABA
Note: This course does not include a textbook and assumes that you or your bank already has one for your use. If you need a textbook, please register for the course which includes one.
Course Credits: AIB: 1.0; ICB: 20 CFTA (FID)
Prerequisites:
None
Required Software:
Adobe Acrobat Reader; Microsoft Internet Explorer Browser 7.0 or Mozilla Firefox 2.0 or higher
