Learn the nuances of international private banking/wealth management from experts in the field through a new partnership between CFA Institute and LawInContext. Members can now access a wide array of online learning packages at a 75 percent discount.

Developed by legal specialists at the global law firm, Baker & McKenzie, these self-paced online courses introduce the important legal and tax elements of trusts, foundations, insurance, and succession principles. They also explore the rules that govern the sharing of information among institutions in the European Union and United States.

Modules incorporate sound, animation, interactive exercises, and quizzes to test knowledge retention. Courses are eligible for CE Credit. The assigned CE Credit hours indicate the approximate time commitment for completing each course and will be entered automatically in a member’s CE Diary upon LawInContext's confirmation of course completion.

International Wealth and Tax Planning ResourcesThese matrices provide high-level overview of international wealth and tax planning rules including, forced heirship, marital property, gift tax, estate tax, and double taxation treaties in over 40 different countries, territories, or dependencies.

• Legal System Matrix (PDF)
• Tax System Matrix (PDF)
• Double Taxation Treaties (PDF)

Module Descriptions

Module 1: International Wealth Planning (4 CE credits)
This training module employs a top-down look at the wealth management industry.

• Covers global industry trends, key legal concerns of wealth owners, taxation and tax planning, succession planning, family law issues, and more
• Features case studies to provide a direct application of the knowledge learned

Module 2: Introduction to Trusts (1.5 CE / 1.5 SER credits)
When used properly, a trust can be a useful tool for many purposes, including tax planning, asset protection, and asset management. The Introduction to Trusts training module explains what trusts are and how they can be properly used as a planning tool for high net worth individuals and families.

• Covers the basic concept of a trust and elements required for a trust relationship to exist
• Highlights various parties who may be involved in a trust relationship, explaining their roles, rights, and responsibilities
• Introduces the various documents frequently seen in support of a trust relationship

Module 3: Features and Uses of Trusts (2.5 CE / 2.5 SER credits)
This training module builds on the Introduction to Trusts by explaining the different types of trusts and trust features.

• Reviews the who, what, when, where, why, and how, as all are important in understanding how a trust works, and what type of trust, if any, is most appropriate for a particular situation
• Explains various trust features including: revocable vs. irrevocable, discretionary vs. fixed interest, testamentary vs. inter vivos

Module 4: International Succession Principles (2.5 CE / 2.5 SER credits)
This training module looks at various legal and tax issues in international succession planning in both civil and common law countries.

• Covers international succession principles, forced heirship, wills, common law, and cross border succession issues
• Features examples of various family situations with planning options and strategies

Module 5: Insurance (2 CE credits)
This training module looks at tax planning strategies using various types of insurance vehicles with a focus on variable policies used increasingly in the private banking arena.

• Covers tax issues relevant to life policy “wrappers”
• Addresses how insurance can replace or enhance trust structures

Module 6: Foundations (2.5 CE / 2.5 SER credits)
This training module looks at strategies for using foundations for tax planning purposes.

• Reviews typical foundation structures with reference to Liechtenstein, the Bahamas, and the Netherlands Antilles
• Highlights differences between trust and foundations

Module 7: EU Savings Directive (2.5 CE / 2.5 SER credits)
The EU Savings Tax Directive came into force on July 1, 2005, with an important impact on financial institutions. This training module provides an introduction to the main elements of the Savings Directive.

• Overview to the EU Savings Directive and how it operates
• Impact on individual residents within the EU and other affected areas
• How to deal with client inquiries and concerns
• Related documents and forms

Module 8: U.S. Qualified Intermediary Rules − An Introduction (4 CE / 4 SER credits)
Provides an overview of the U.S. Qualified Intermediary regime and its place in the U.S. withholding tax system.

• Features different categories of account holders and details of QIs’ documentation obligations for each
• Explains the relationship between QIs and U.S. custodians
• Introduces IRS forms needed by QIs