Trust Fundamentals – Key roles and responsibilities
Professional Development
Overview
The Trust Fundamentals programme is a four-part deep dive into the world of trusts in the Crown Dependencies and other offshore jurisdictions.
In this second seminar, we meet the principal actors in a trust relationship and consider the specific legal and fiduciary obligations that belong to each role. The focus is on the practical implications for trust administrators in the Crown Dependencies.
Supported by interactive case studies, this course provides trust administrators with essential knowledge to become more effective in their roles.
Online Classroom
This course will be delivered through Online Classroom Live.
Suitable For
New joiners and early career professionals in offshore trust administration
Trust Fundamentals – Key roles and responsibilities
Cost: GBP 135.00
Course Content
- Introduction and recap of first session
- The settlor: identity, role and reserved powers
- Article 9A of the Jersey Trusts Law (1984)
- The trustees: their core fiduciary duties and trust powers, and how they differ
- The beneficiaries: classes, vested vs. contingent interests and rights to access information
- Case study: Schmitt v. Rosewood Trust Ltd (2003)
- The protector: their purpose and role
- The enforcer: role in non-charitable purpose trusts, Cayman Islands STAR trusts, hybrid and philanthropic structures
- Trustee liability, indemnification and its limits
- Managing conflicts of interest in a trust: understanding the settlor/ beneficiary / trustee triangle
- Handling tensions amongst beneficiaries and classes of beneficiaries
- Q&A and Slido Quiz
Learning outcomes
- Appreciate the key roles and responsibilities of the parties in a trust structure
- Understand the difference between duties and powers, and apply a framework to help handle incoming information requests from beneficiaries
- Leave with practical summaries and relevant case studies to help boost their effectiveness as trust administrators
Paul Groden
Prize-winning author, speaker and tutor with over two decades of experience in international finance
Paul is a freelance tutor specialising in finance, business strategy, and soft skills. He has worked for over twenty years in leading global firms, primarily in securitisation, structured products and change management.
Paul gained a first-class degree in Modern History from Oxford University, where he was a Centenary Scholar at St Hugh’s College. He also holds a postgraduate diploma in Business Studies with Distinction from the London School of Economics.
He is winner of the Shell Economist Writing Prize and is the author of two published books. Paul is a Fellow of CIMA and a Chartered Fellow of CISI, and is a former President of CISI Jersey branch.