Course Number: ABA
Course Code: ABA
Explains exercising a power of appointment, future interest in property, and concurrent ownerships. Describes community vs. separate property, estate planning in a community property jurisdiction, and provisions that protect the surviving spouse in common law states. Describes the prudent management of assets investment strategy, criticisms of the Prudent Person Rule, issues of administering investment securities in fiduciary accounts, and the history of the Uniform Principal and Income Act.
Updated: January 2018
Re-versioned: June 2016
What You’ll Learn
After completing this course, students will be able to:
-Describe powers of appointment
-Explain interest in property and the protection under the law
-Identify the characteristics and legal guidelines for community property, common law, and separate property
-Describe the Prudent Person and Prudent Investor rules
-Explain the issues associated with investment securities held in fiduciary accounts
-Explicate allocation of receipts and disbursements between income and principal
Audience: Trust officers with at least three years of personal trust experience who need a deeper understanding of technical trust concepts and how solutions work when applied to client needs.