Canadian Estate Planning, Trusts, and Tax Program
For beneficiaries of trust assets looking to increase their competence in the areas of trusts and estate planning, this self-paced, online learning program is designed specifically for you. With coursework that progresses from more basic to rigorous content, students of all knowledge levels gain an understanding of estate planning, trusts, and trust administration, as well as practical guidance on how to work effectively with advisors to a trust. This targeted learning experience features engaging content such as movie excerpts, a celebrity interview, reviews of famous people’s wills, readings from industry experts, articles, real-life case studies, and applied learning homework assignments that increase retention. Students have the option to enroll and continue their education in the Accredited Beneficiary Stewardship Program to pursue the Accredited Beneficiary designation without penalty.
This program is comprised of nine courses and introduces intermediate level content on the legal structure and tax considerations for Canadian estate planning, trusts, and tax planning.
- Access your courses anytime, anywhere, with a computer, tablet or smartphone
- Videos, quizzes and interactive content designed for a proven learning experience
- Unlimited access. Take your courses at your time and pace
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This learning program is ideal for the adult who is interested in learning more about the mechanics of estate planning, how trusts are structured and operate, and a deeper understanding of the Canadian tax system. The concepts covered are specific to beneficiaries in Canadian, as this learning program does not cover international jurisdictions and planning considerations. The courses are delivered in English, and there is no assumption that a beneficiary has knowledge about the family’s current estate plan, trust structures, or knowledge of tax history and policy.
This learning program benefits those who want a stronger foundation in estate planning goals, techniques, and process. Further, the trust course aids learners regarding the various types of trust structures, how they are set up, administered, taxed, and monitored. The tax course provides insights to tax history, tax forms, and the application of tax considerations to a learning case study. The learner will benefit from the applied nature of the content to start and enhance their relationship with the various parties to a trust.
Outline of Lessons
Introduction to Estate Planning - Course 1 (Canadian)
Course 1 of the Introduction to Estate Planning course reviews the five estate planning phases and the five basic goals of the iterative estate planning process. Triggering events that impact estate planning, either anticipated or unanticipated, are discussed. Further, the course explores outside influences such as tax law changes and economic downturns, family culture influences, and the concept of “ruling from the grave." This introductory course showcases modern perspectives on estate planning and includes a timely example of a real-life inheritor.
Introduction to Estate Planning - Course 2 (Canadian)
Introduction to Estate Planning Course 2 introduces estate planning as both an efficient and effective means of passing along property. The course reviews the key estate planning documents utilized in an estate plan, including providing a sample power of attorney for personal care and a sample power of attorney for health care. This course also discusses the power of leaving a legacy and the story of Alfred Nobel.
Introduction to Estate Planning - Course 3 (Canadian)
Introduction to Estate Planning Course 3 focuses on wills, including their key components to making them valid, the process of establishing a will, the dangers of not having a will, and what may happen if someone passes without a will. This course shares three examples of insufficient wills and more about the probate process.
Trust Fundamentals - Course 1 (Canadian)
In Course 1 of Trust Fundamentals, both the purpose of trusts and the history of trusts, dating back to the Roman Empire and the Crusades, are reviewed. The course proceeds with the nuts and bolts of the primary trust categories, trust income distribution categories, and complex trust language. Students learn about the main parties to a trust as well as the additional parties to a trust. The role of a trustee in a mutli-generational family trust is explored through a fictional case of a family grappling with complex estate planning issues.
Trust Fundamentals - Course 2 (Canadian)
Trust Fundamentals Course 2 living trusts, how trusts are used with a will, other types of trusts such as spousal trusts, joint partner trusts, and alter ego trusts. Additionally, Trust Fundamentals Course 2 discusses trusts and probate and the Rule Against Perpetuities.
Trust Fundamentals - Course 3 (Canadian)
Trust Fundamentals Course 3 explores in greater detail the importance of trust governance including the role of governance with family trusts and the importance of strong governance practices. This course also discusses different governance models and provides a real-world case study that provides insights to what happens when trust governance goes wrong.
Foundations of Tax - Course 1 (Canadian)
In this course, the complex and ever-changing world of Canadian taxes is introduced. Students learn about the history and evolution of taxes in Canada. An overview is provided of the conceptual underpinnings of the Canadian tax code, the most common taxes and tax forms, and how recent tax law changes have affected tax rates and tax brackets by province. In this course, students learn about income tax, payroll tax, tax on wages, and tax on investments. The course concludes with an applied learning case study.
Foundations of Tax - Course 2 (Canadian)
This course focuses on the taxes that specifically impact estates, trusts, and wealth transfers. The origins of these taxes are explored as well as their intentions. Taxes for beneficial owners are more complex than they are for most Canadians. With an understanding of these taxes and one’s beneficial asset holdings, beneficiaries can work more productively with their advisory team. To this end, students will begin to learn about the tax landscape they face and how to take a more strategic approach through tax planning.
Foundations of Tax - Course 3 (Canadian)
In this course, the different types of entities that accomplish both tax-related and non-tax related goals are discussed. Students explore how flow through entities, such as LLCs, LPs, and S-Corps, and non-flow through entities, such as C-Corps, achieve goals for business owners. In addition, an overview is provided of private foundations and public charities, including their pro's and con's, and the key differences between the two to help guide philanthropic goals.