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€140 - €280
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Unlocking Trusts: A Deep Dive into Key Concepts, Types, and Practical Realities
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Highlights
Live Online
7 CPD Units | 7 Hours
The EIMF Live Online Learning Experience
Participants will receive access to the recorded sessions of the course.
EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment. Read more
Course Overview
This Course not only traverses the entire spectrum of trust fundamentals and terminology but also places a special focus on dissecting the duties, responsibilities, powers, and risks inherent in trust relationships. Drawing strength from the legal frameworks of Cyprus, participants will grasp the foundational principles of trust administration, exploring the nuances of the Cyprus legal stance on trusts.
The course equips participants to assess alternatives to trust structures, understand the tax landscape, anticipate potential legal and tax reforms, and gain practical insights into the current implementation of beneficial owners' registries.
Training Objectives
By the end of the programme, participants will:
Understand the Concept of Trusts
Analyse Risks, Duties, Powers, Liabilities, and Responsibilities of each of the parties
Apprehend the Key Components of Trust Administration
Analyse the Position of Cyprus Law and Discussing Reforms
Discuss Taxation Position and Beneficial Ownership Registers
Training Outline
Key Aspects of Trusts and Terminology
Introduction to the terminology of trusts.
Understanding legal and equitable estates and interests.
Exploring express, statutory, resulting, and constructive trusts.
Differentiating simple (bare) trusts and special trusts.
Analysis of fixed and discretionary trusts.
Overview of executed and executory trusts.
Examining "donative" and "commercial" trusts.
Identifying "illusory/sham" trusts.
Express Trusts
Introduction and in-depth analysis of express trusts.
Criteria for the validity of an express trust.
Interpretation of executory trusts.
Termination of trusts of property.
Trusts Imposed by Law
Understanding resulting trusts.
Analysis of constructive trusts.
Administration of the Trust
Acceptance of trusts by trustees.
Estate of the trustee and trustee's duties.
Powers and responsibilities of the trustee.
Powers of beneficiaries and protectors.
Procedures for death, retirement, and removal of trustees.
Appointment of trustees and the rights of trustees.
Role and functions of the public trustee.
Breach of Trust
Consequences of breach of trust.
Liability of trustees and protective measures.
Assessment of liability for third parties and beneficiaries.
Protectors
Supervisory role of the Protectors.
Overview of the powers of the Protectors.
Overview of the duties of the Protectors.
The appointment, resignation and removal of the Protectors.
Facing challenges of modern trusts
Classes of Beneficiaries. Conflicts among Beneficiaries
Settlor acting as Beneficiary. Concerns and Practical Examples
Settlor acting as Protector. Challenges, Obligations and Responsibilities
Settlor acting as trustee or co-trustee. Legality, challenges and issues
Trustee acting as beneficiary of the trust. Issues and solutions
Challenges arising from multiple roles in trusts and solutions.
Practical approach to solving issues of trusts with complex transactions/multiple assets
Common drafting errors and practical solutions
Pitfalls for practitioners and how to avoid them
Trusts in Cyprus
Overview of Cyprus case law and legal practices.
Proposals for legal reforms (if any).
Alternative arrangements to trusts.
Tax implications associated with trusts in Cyprus.
Exploration of ultimate beneficial ownership registers and their relationship with trusts.
Trusts and similar legal mechanisms in civil law countries
Introduction
Legal Mechanisms Similar to Trusts
Key Differences from Common Law Trusts
Tax implications associated with trusts in Cyprus.
Challenges, Considerations, Examples and future global trends
Who Should Attend
This course is suitable for both beginners seeking a comprehensive introduction to trusts and experienced professionals looking to deepen their understanding and stay updated on legal developments and best practices. Moreover, the course on Trusts is tailored for a diverse audience of legal professionals, financial experts, trust administrators, and anyone involved in the management, administration, or legal aspects of trusts. It is ideal for:
Legal Professionals
Financial Advisors
Trust Administrators
Accountants and Tax Professionals
Corporate Executives
Compliance Officers
Estate Planners
Financial Analysts
Government Officials
Trustees and Protectors of trusts
Training Style
The The programme is meticulously crafted to impart advanced knowledge and profound insights into the intricacies of Trusts. It aims to elevate participants' expertise through a dynamic course format featuring engaging PowerPoint presentations and real-world examples. The methodology seamlessly blends a focused approach, delivering content through presentations and real-life scenarios, with a learner-centric philosophy. Participants are actively encouraged to pose questions, seek clarifications, and contribute their unique perspectives. This creates an interactive forum for the exchange of ideas and personal professional experiences, fostering a dynamic learning environment.
CPD Recognition
This programme may be approved for up to 7 CPD units in Law. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
In-house Training
For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.
Facilitators
Marina Kharchenko
Being a registered member of the Cyprus Bar Association, Marina holds a Bachelor degree in International Relations, as well as Bachelor degree in Law (LLB) and a Masters in Law (LLM). Fluently speaking 4 languages, Marina has held various senior corporate and legal roles both within Europe as well as the Middle East. Her past positions have allowed her to gain extensive experience in working with a wide variety of clients and build a substantial portfolio across different segments. Marina is the Founder of a law firm M. Kharchenko & Co LLC and a CEO of a licensed administrative service provider - Pravo Ltd. Marina has combined her extensive experience and global background in both managing and servicing the corporate and legal requirements of clients. The experience of having her own legal practice as well as being a speaker at international conferences and professional legal events, allows Marina to offer not only in-depth research to training programmes, but also to share her knowledge and practical approach in reviewing every subject matter.