Chartered Trust And Estate Planner (CTEP)

As the name suggests, a Chartered Trust And Estate Planner is a profession that specializes in trust and estate planning. A Chartered Trust And Estate Planner Certification are awarded by the Global Academy of Finance and Management (GAFM), previously American Academy of Financial Management (AAFM) when a candidate completes the study program and successfully passes the qualifying final exam. This certification indicates that the candidates are qualified and have professional knowledge in key areas such as tax, trust, and estate planning. The course will train the candidates with the necessary skills they need to effectively interact with the clients and also teach them the practical aspects of trust and estate planning. The course will provide you knowledge in the areas such as –

Planning of Tax
Transactions regarding Step and Shams
Residence and Source Concepts
General Anti Avoidance Regime
Covering Concepts of Substance, Form, and Abuse of Law
Specific Anti Avoidance Rules
Controlled Foreign Corporations
The regime of Controlled Foreign Companies
Thin Capitalization
Advance Pricing Agreements
U.N. Models, U.S. Tax Treaties, OECD Models
Avoidance by the use of Double Tax Agreements
Important Tax Cases Reviews

Exam Details

The CTEP exam is a total of 120 minutes and is in the form of Multiple Choice and Multiple Responses. The total number of questions that come in the exam is 60 out of which your answers should be 100% correct for credit. The cost of the exam is $250 (USD).

Prerequisites Or Qualification Requirements

Candidates must possess two of the following prerequisites

Professional experience of three years
A degree which is recognised by the government such as a degree, MBA/Masters, a Law Degree, any PhD, CPA, licenses, a recognised designation or a specialized work
A related degree that is approved by GAFM and authorized university program
Executive Certificatio n Training Programs completion

Candidates must have submitted the following educational requirements

GAFM Certification Application that will show your education is from an GAFM-qualified education provider
Reliable evidence of enrollment, application, and completion of the degree and exams authorized or sanctioned by a government program
Reliable evidence of any work experience, diplomas, certifications, designations, government training/work, research, teacher work.

Who should take the CTEP certification exam?

The exam is most appropriate for the candidates whose aim is to become the following

Planning and Operation Managers
Finace Marketing Professionals
Financial Accounting Head
Stock Market Professional
Portfolio and Asset managers
Analysts and Investment Managers
Financial Planners and Investment Advisors
Retail Branch Managers
Market and Brokeage Analysts
Private Bankers
Wealth Managers
Hedge Fund Managers
Trust Officers
FamilyOffice Managers

Course Outline

Course Structure

Risk Management, Personal Financial Planning and Estates

The candidate will get exposure in key areas such as advanced financial topics- tax planning, transfer of assets, wealth distribution and accumulation, and planning retirement. This area of course structure includes a brief study of insurance products- life, health, property, causality, disability, and catastrophic coverage insurance. Also, candidates will gain practical knowledge by using techniques to transfer assets throughout a client’s lifetime with the use of planned gifts and planning at death with the use of wills and trust.

Offshore Private Placement Life Insurance

Introduction
Holding Structures of Offshore
Benefits of Asset Protection
Flexibility and Benefits of Investment Management
Benefits of Tax
Liquidity
Election of the IRC 953 (d)
Investor Control and Diversification
Requirements for Due Diligence
Collecting Information
Offshore Policy Placing and Prequalification

International Estate Planning

Planning and Taxation of Income, Gift, and Estate-

Domiciliary or U.S. citizen’s Taxation-

Estate taxation
Taxation of gift
Generation-skipping transfer taxation
Planning of marital deduction for residents and citizens with non-citizen spouses

U.S. citizen’s asset protection trusts

Penalties in case of failure to file
Requirements of tax compliance and tax reporting

Deduction of charitable contribution under U.S. tax laws

Taxation of non-domiciliaries and non-residents

Estate taxation
Gift taxation
Income taxation

Taxation of non-resident foreigners in gift, generation-skipping transfer, and income

Passive investments
Avoidance of FIRPTA with the use of foreign corporations
Active trade or business operations
Foreign Investment Real Property Tax Act (FIRPTA)

Charitable Planning for the Financial Advisor

Public vs. Private Foundations
Limitations
Charitable Intent
Completing the Tax Return
Charitable Tax Forms
The Installment Sale
Capital Gain Bypass
What’s Deductible
Charitable Instruments
Outright Gifts
Charitable Life Insurance
Gift Annuities
Bargain-Sale and more
Charitable Trusts
What to do for the non-U.S. resident
Foreign Trusts
Foreign Foundations
Personal and Corporate Philanthropy
Charitable Planning for the Financial Planner
Charitable Planning for the Wealth Manager
The Rockefeller Plan

Tax Treaties and International Anti-Avoidance

The aim of this course area is to give the candidate a clear understanding of the basic principles that state anti-avoidance provisions and to get you familiar with the present state of the law in selected countries.

The Law of Fiduciary Obligations and Trusts

This area of course structure involves the fundamental concepts of trust law and the fiduciary powers, duties, and responsibilities within the law applied. The candidate must have a basic understanding of fiduciary relationships and activities that are important to traditional administration. This topic will also involve dealing with the trustee’s responsibilities respective to investing trust assets. For example, specific securities law, ethical issues that are relevant, and the prudent person and prudent investor rule.

Some of the main topic areas are mentioned below-

Difference between a trust and a power
Use of trusts
Discretionary trusts
The beneficiary principle, certainty, and purpose trusts
Charitable trusts
Pension funds and unincorporated associations
Mutual wills and secret trusts
Constructive and resulting trusts
Breach of fiduciary duty as well as trust
Tracing, and strangers to the trust
Trustee’s appointment and removal
Trustee’s duties
Termination as well as variation of trusts

Chartered Trust and Estate Planner FAQs

Know more about the Chartered Trust and Estate Planner certification exam by clicking here

Registration Process

First of all, fill up all the sections of the Registration Form

Upload your latest passport size photograph which should be of maximum 1MB in size

Click on the submit payment option (Online or Offline)

Then, log in to your student account (your email id is the user id and password) and complete the registration form

Take out a printout of the completed registration and send it

Make sure that you send 2 latest photographs and an Online Fee Receipt with the form

Also, please ensure you go through the declaration form too

Preparation Guide

To achieve success in this exam requires a lot of determination but don’t worry, here is the study guide which you can follow to ace your exam.

Exam Objectives

To ensure success in your exam, you must keep in mind to cover up all the major topics in the course structure and prepare accordingly. Do not miss out on any topic and go through the course overview.

Study Resources

Join online forums such as quora, reddit and attend training sessions, webinars, and get the study material included when you register yourself for the exam by the GAFM itself.
Read reference books. To list some of them out- A Complete Guide to WIlls, Trusts, And estate Planning, The Estate Planning Today, The Estate Planning Companion
Online study groups can bring you a lot of advantage during your exam preparation. This will help you network with other candidates as well as with experts and professionals who have already been through this journey.

Practice Tests

Attempt as many practice tests as you can. You can self-assess which will let you to improve and learn from your mistakes. Take free practice test right now. These consist of all the types of questions that will help you give the exam with confidence.