Designation:	Chartered Trust and Estate Planner
Issuing Organization:	AAFM/RSOF
Prerequesites/Experience Required:	Candidate has three or more years of wealth management experience, .
Educational Requirements:	AAFM-approved degree (graduate or undergraduate) in finance, tax, accounting, financial services, law or a CPA, MBA, MS, PhD, or JD from an accredited school or organization  Eligible candidates must successfully complete the RSOF/AAFM Executive Certification training course
Examination Type:	Comprehensive
Continuing Education/Experience Requirements:	15 hours per year
Investor Complaint Process:	Online complaint submission
Public Disciplinary Process:	None
Check Professional's Status Online:	Online complaint submission

 

 Professional Knowledge Areas

 

The interdisciplinary curriculum for the Chartered Trust and Estate Planner is geared entirely towards the focus on trust and estate planning for domestic and international clients. A core group of specialty graduate topics focuses on the major functional issues of high net-worth consulting, ranging from tax, finance to law and integrative wealth management practice. Another critical aspect of advising the wealthy individual, family, addresses the interpersonal skills so crucial to this business. The course will cover such planning obstacles, such as, Common Law and Civil Law jurisdictions, a non-resident alien spouse and tangible and non-tangible assets in multiple jurisdictions.

 

The last part of the CTEP™ course objectives deals with investment management issues of trust, such as financial and legal considerations that effect decisions regarding trusts.

 

Personal Financial Planning, Estates, and Risk Management

 

The candidate will be exposed to advanced financial topics including wealth accumulation and distribution, asset transfer, tax planning, and retirement planning. This section will include a full discussion of insurance products including life, property, health, disability, casualty and catastrophic coverage insurance. Also, the student will learn techniques used to transfer assets during a client’s lifetime using planned gifts, as well as, planning at death using wills and trusts.

 

Trust Management and Fiduciary Obligations

 

This module covers the fundamental aspects of trust law & trust documents and their fiduciary powers, duties, and responsibilities within the scope of applicable law. The candidate should already understand basic fiduciary relationships and activities that are essential to traditional administration. This module also covers the trustee's responsibilities relative to investing trust assets such as specific securities laws, relevant ethical issues, and the prudent person & prudent investor rule The candidate will be instructed on the fundamentals of the tax code related to taxation of trusts, personal income and retirement assets and a discussion of trust taxes, the scope and requirements of gift taxes, estate taxes and generation skipping transfer taxes.

 

Income, Gift and Estate Taxation and Planning

 

A complete discussion of the fundamentals of client portfolio management and the economic markets including various types of investments (including securities instruments). The candidate will learn more about defining the types of investments used in trusts. The latter part of this lecture will expand on the methods used to select and analyze stock and bond investments. Other topics include: The mechanics of portfolio management, economic influences regarding trust investments, including the federal reserve, business cycles, and economic indicators, and the legal considerations that affect decisions regarding trusts.

 

Global Estate Planning

 

• Taxation of U.S. citizen residents or domiliciaries

            1. Estate taxation 

2. Gift taxation 

3. Generation-skipping transfer taxation

4. Marital deduction planning for citizens and residents with non-citizen spouses

 

• Asset protection trusts for U.S. persons 

1. Tax compliance and tax reporting requirements 

2. Penalties for failure to file

 

• Charitable contribution deduction under U.S. tax laws

 

• Taxation of non-residents and non-domiliciaries 

1. Income taxation  

2. Estate taxation 

3. Gift taxation

 

• Income, gift and generation-skipping transfer taxation of non-residentsident aliens

 

1. Passive investments 

2. Active Trade or business operations 

3. Foreign Investment Real Property Tax Act (FIRPTA) 

4. Use of foreign corporations to avoid FIRPTA

 

• Conflict of Laws
• Marital deduction planning
• Trusts and foundations under civil law jurisdictions
• Asset protection trusts for foreign persons
• Reporting and disclosure requirements for foreign persons