Introduction to Trust Products and Services
AIB Course Code: 8262
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.
Course Length: 5 Weeks
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
Textbook: Trust Basics: An Introduction to the Products and Services of the Trust Industry, 4th edition, 2008, ABA
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 employees 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
** If you already have a copy of the textbook, be sure to register using the "without textbook" option.
Enrollment: To enroll in this course, please click on the link below for the registration form. Print and complete the form and submit it to your supervisor for approval. Then submit the approved form to your human resources department for processing.