Family Trust Planning – Different Ways to Do It by Azhar Iskandar Hew

RM260.00

Date	22 April 2024
Time	9.00am – 5.00pm
CE/CPE/CPD	10 CE Points / 10 CPE Points / 8 CPD Points
Facilitator	Azhar Iskandar Hew

SKU: N/A Category: Workshops

There has always been a misnomer that Trust is only for the wealthy. It is no longer true. You do not need to be a millionaire or billionaire to have a Trust. Though Trust is not common to the man on the street, unlike a Will, it is nevertheless an important one to have to provide for your loved ones.

Trust is so versatile that it can be customized to fulfil multiple objectives for a family. This session aims to explore the different ways to have family trust for Muslims and non-Muslims.

Learning Outcome

By the end of the course, participants will be able to:

Understand the concept and structure of an express trust consisting of inter vivos trust, declaration of trust and testamentary trust.
Identify the suitable type of express trust to be used to fulfil different objectives for the family as well as create the right structure for the chosen type of trust.
Able to determine the right type of assets for the trust and the amount required for it.
Understand and present the advantages and disadvantages of the chosen type of trust for each case.

Learning Outline

8.30 – 9.00 am	Registration / Pre-Assessment
9.00 – 10.30 am	INTRODUCTION TO EXPRESS TRUST This session explains: Differences between inter vivos trust, declaration trust and testamentary trust – structure, features, revocability, and beneficial interests. Is the trust creditor proof from the estate’s creditors and/or in bankruptcy of the settlor or beneficiary? Tax implications on the assets used to create a trust and trust income.
10.30 – 10.45 am	TEA BREAK
10.45 am – 12.30 pm	FAMILY TRUST SITUATIONS AND SUGGESTED TRUST STRUCTURE This session explains the suitable situation for a trust and the right and wrong Trust structure to use: The only child who wants to ensure aged-old parents are cared for if the child dies first or becomes disabled before the parents’ death. A soon-to-be-divorced father wants to ensure his minor children will be provided for when they stay with their mother. A businessman who wants to protect his wealth in the event of bankruptcy due to high risk in his business. Parents who are very concerned about maintaining the family wealth in the family for multiple generations and not being diluted due to inheritance, divorce, children’s creditors, and their spendthrift habits.
12.30 – 2.00 pm	LUNCH
2.00 – 3.30 pm	FAMILY TRUST SITUATIONS AND SUGGESTED TRUST STRUCTURE (CONT.) A grandfather who does not trust the financial maturity of his children wants to ensure that his grandchildren will have a good education. Parents need to ensure their special needs child is financially secure with a guardian to take care of their child. Uncles and aunts wanting to provide education funds for the children of their deceased’s sibling. Ensuring an adopted child receives a bigger portion of wealth in addition to the one-third inheritance in a Muslim family. Having a win-win situation to avoid disputes between two families of the settlor. Make sure that old age is golden. Setting aside for perpetual charitable giving for a road to heaven. I want to get back my assets from my proxy. Single parent is worried about her five young children. Smooth transition from patriarch to a successor to continue the family business. Control and continuation of the family business for multiple generations.
3.30 – 3.45 pm	TEA BREAK
3.45 – 4.45 pm	ADVANTAGES AND DISADVANTAGES OF HAVING A TRUST This session explains: The advantages of a Trust include avoiding probate, Faraid, avoiding fragmentation and wealth preservation. The disadvantages of a Trust in Malaysia such as the impact of taxation, poor understanding of Trust by intermediaries and the inability of the settlor to understand the language in the trust deed.
4.4.5 – 5.00 pm	Post Assessment Q&A Session

Facilitator

Azhar Iskandar Hew,

Azhar Iskandar Hew is the Group CEO of Rockwills International Berhad and is a Director in Rockwills Advisory Services Sdn Bhd. He was previously the CEO of Rockwills Trustee Berhad. He is trained as a lawyer and holds a law degree from the University of London. He has more than 26 years of experience in the estate planning industry customizing solutions for clients, designing estate planning products and as a guest speaker in Malaysia, Singapore and Hong Kong.

Azhar is well-known in the estate planning industry due to his hands-on approach and wealth of experience in the industry. He is currently the Vice Chairman of the Malaysian Chapter of the Society of Trust and Estate Practitioners (STEP), an internationally recognized estate planning association. He is also a Committee Member of the Association of Trust Companies, Malaysia (ATCM). Over the years, he has written many articles on estate planning for financial planning magazines in Malaysia and was interviewed numerous times by BFM radio on estate planning matters.

Besides heading the management team at Rockwills, where necessary, Azhar continues to advise clients and families in their estate plan, succession planning and business continuation to ensure that it will be carried out effectively and fulfil the intentions of the clients and their families. Recognized for his expertise and is frequently invited to lead talks, workshops, and seminars on various financial planning topics. His passion for enhancing public financial literacy is evident in his dedication to this educational endeavour.

Terms & Conditions

Registration is on a first-come-first-served basis, only 30 seats are available.
Participants need to sit in for the workshop throughout the day to receive the certificate and to fulfill the endorsement of points.
Confirmation is subject to receipt of payment before the workshop.
FPAM reserves the right to amend the program, speaker, date, venue, etc, without prior notice.

Frequently Asked Questions

1. How long will each physical program take?

Each physical program is the equivalent of a day’s CE Workshop training for approximately 8 hours with the morning & afternoon coffee break and lunch in between. The duration of the program excluding the break is 6 hours.

2. Can I attend only half the sessions of the training?

You will need to sit in for the session throughout the day unless you have a valid reason or a copy of proof.

3. Mode of payment?

We accept payment by credit / debit card (VISA / MasterCard / AMERICAN EXPRESS / Discover), by FPX (Affin Bank, Alliance Bank, AmBank, Bank Islam, Bank Muamalat, Bank Rakyat, BSN, CIMB Clicks, Hong Leong Bank, HSBC Bank, KFH, Maybank2E, Maybank2U, OCBC Bank, Public Bank, RHB Bank, Standard Chartered, UOB Bank).

4. How secure is shopping? Is my data protected?

Your data will be handled confidentially and encrypted with SSL (Secure-Socket-Layer) secure server software. The encrypted information of your order, your name, address, credit card, and bank details cannot be retrieved by any third party. Credit card payments will also be verified through the 3D secure procedure.

5. Who should I contact if there is any transactional issue or problem purchasing any product/service?

Kindly drop a message below with the problem statement, and we will get back to you as soon as possible.