Throughout this self-paced course, you will learn through the integrated use of content modules, videos, assignments, and knowledge checks.  A Cannon subject matter expert will provide instruction through the platform in order to add context to some of the more complex aspects of the trust and estate world to which you are being introduced.  At the conclusion of the course, you will apply what you have learned through case studies and knowledge checks.

Participants can expect this course to cover the broadest aspects of the Trust industry. Emphasis is placed not only on the various issues of the personal trust field but also on how the areas impact the decisions made in trust and estate planning. The depth of technical competency and skill required to perform complex trust administration is found in our Cannon Trust Fundamentals, Cannon Trust I, Cannon Trust II, and Cannon Trust III courses.

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Areas of Study:

Overview and Purpose of Estate Planning

Define common terminology used in estate planning discussions.
Identify the purpose and goals of estate planning.
Identify the purpose of a Will in estate planning.
Identify the roles and responsibilities of estate planning team members.
Identify the purpose and importance of each step in the Estate Planning process.
Identify the purpose and function of common estate planning documents.

Property Rights and Property Ownership

Identify a typical item of property according to its legal classification.
Identify the two types of property law in the United States.
Compare and contrast the two types of property law in the United States.
Identify the type of property ownership from a general description.
Distinguish the types of property ownership that are subject to probate from those that are not.

The Transfer Taxation System

Understand the present federal transfer tax system and its implications for wealth management.
Describe the three different categories of transfer taxes: estate tax, gift tax, and generation-skipping transfer tax.
Identify the exceptions to the transfer tax.
Understand who pays the transfer tax.
Distinguish assets with exceptions for the application of gifting tax.
Explain how the generation-skipping transfer tax applies to gifts.

Estate Planning Strategies Implemented During Life

Identify the roles of each party involved in a trust.
Identify the characteristics of a revocable living trust that distinguish it from an irrevocable trust.
Identify the most commonly used types of irrevocable trusts.
Identify the distinguishing characteristics of the commonly used types of irrevocable trusts.
Distinguish annuity interest from uni-trust interest.

Estate Planning Strategies Implemented at Death

Identify the most commonly used estate planning strategies implemented at death.
Define the terms unlimited marital distribution and applicable exclusion amount.
Identify the distinguishing characteristics of the exclusion trust.
Identify the distinguishing characteristics of the QTIP marital trust.
Compare the use of trusts in estate planning to the tax consequences of outright distribution.
Identify the distinguishing characteristics of generation-skipping trusts.

Case Study Assessments

Mastery Exam