Accredited Beneficiary Stewardship Program – USA

The Stewardship course introduces the concept of stewardship and the role that stewarding principles play in beneficiary’s lives. Students explore values in terms of how they relate to stewardship and being a beneficiary.

• Module 1 - Introduction of Stewardship and Principles

This course covers what it means to be the beneficiary of a trust or significant wealth, starting with the importance of a settlors’ goals, motivations, and intentions for passing along wealth. The content reviews the four “M’s” that inspire beneficiaries to be stewards of wealth – not just recipients – and how a beneficiary’s relationship to trustees changes from childhood to adulthood. After establishing the foundation of beneficial ownership, the course delves into a beneficiary’s duties and responsibilities. Finally, the course concepts are blended into an interactive case study that features settlors and beneficiaries’ perspectives.

• Module 1 - Introduction to Beneficial Ownership
• Module 2 - The Beneficiary and Trustee Relationship
• Module 3 - Responsibilities of a Beneficiary
• Module 4 - Case Study

Trustee Basics is a continuation of the learning established in Beneficiary Fundamentals and puts the learner in the shoes of a trustee. The course starts by establishing the main parties to a trust and defines the role of a trustee. The subsequent modules provide an overview of the responsibilities and duties of a trustee and reviews the beneficiary’s duties in the trust relationship. This course includes worksheets and resources that help an individual work through if they are ready to take on the responsibility and duty of becoming a trustee. Additionally, Trustee Basics covers institutional trustees, the purpose of a private trust company, and how to evaluate trustee candidates and monitor their performance over time.

• Module 1 - Introduction to the Parties to a Trust
• Module 2 - Responsibilities and Duties of a Trustee
• Module 3 - Types of Trustees
• Module 4 - Process of Sourcing a Trustee

Estate Planning Basics discusses both the financial and emotional aspects of estate planning and reviews the key documents that can be part of an estate planning strategy. The modules review the process and decision-making involved in setting up an estate plan, including evaluating the intent of the settlor and planning for fairness and equity over generations. This course highlights using wills and uses cases to demonstrate the importance of having a clearly defined will.

• Module 1 - Phases, Goals, Trigger Events, and Process
• Module 2 - Estate Planning
• Module 3 - Wills

Trust Fundamentals dives deeply into trust structures, starting with the history of trusts to the role trusts play in complex estate plans. This course highlights living trusts, irrevocable trusts, charitable/philanthropic trusts, dynasty trusts, and the role that trusts play when wills and power of attorney are present.

• Module 1 - Purpose, History, Categories, and Language
• Module 2 - Use of Trusts and Types of Trusts
• Module 3 - Trust Governance

Foundations of Tax includes three modules that cover the history and purpose of taxation, personal income taxes, the role of taxes in estate planning, and entity and charitable taxation. The course reviews taxes at the provincial and federal levels and features an estate freeze case study.

• Module 1 - Introduction to Taxes
• Module 2 - Estates, Trusts, and Wealth Transfers
• Module 3 - Tax-Related and Non-Tax-Related Goals

Personal Finance Fundamentals covers the basics of practical financial skills starting with financial planning, risk management, and personal budgeting. The course moves on to corporate financial statements and builds up to analyzing key performance measures and ratios. This course also covers how to read core financial statements including a balance sheet, cashflow statement, and income statement. Finally, learners will apply knowledge through an in-depth case study that encourages critical thinking and problem-solving to make complex financial decisions.

• Module 1 - Financial Planning
• Module 2 - Financial Statements
• Module 3 - Case Studies

The Trust Administration course defines the role of trust administrators and reviews the ethical and fiduciary responsibilities that a trustee assumes. The coursework outlines four responsibilities to properly administering a trust and expands on the administrative functions that are required of a trustee, including monitoring trust investments and reporting. The course also highlights the role and responsibilities of the trust beneficiary.

• Module 1 - How a Trust is Administered

Working with Advisors lays the groundwork for beneficiaries to have positive working relationships with advisors. The content reviews communication, hiring, compensation, and onboarding as well as transitioning to a new advisor or terminating an advisor relationship. The course ties relevant concepts into an animated case study that demonstrates the importance of working with advisors proactively.

• Module 1 - Working within the Advisor Ecosystem

Investing Fundamentals outlines asset types and classes and considers how a trust portfolio can be constructed to meet specific financial goals. The coursework delves into investment governance including the components of an investment policy statement and how to read and understand investment statements and assess performance. Finally, the course culminates in a case study that applies the lessons and concepts learned in this course as well as tying in estate planning, financial planning, and wealth transfer.

• Module 1 - How a Trust is Invested
• Module 2 - Goals, Strategy, Process, and Approaches
• Module 3 - Case Study