Contract and Trust - Trust Legal Framework
Financial Regulation Courses (FRC)
This course provides a detailed exploration of the UK’s legal framework for contracts and trusts, particularly in the context of financial advice.
Learners will develop an understanding of key legal concepts, including contract formation, capacity, and the roles of legal persons.
The course also covers the purpose, creation, and types of trusts, including their application in estate planning and asset management.
By the end of the course, learners will be equipped to navigate the complexities of contract law and trust structures in a financial advisory context.
Syllabus
1. Legal Concepts on UK Contract and Trust
Overview of contracts, capacity, legal persons (individuals, companies, partnerships), and the law of agency.
2. Powers of Attorney
Examine the use of Powers of Attorney (POA), including specific, general, and lasting powers, and their role in managing financial affairs.
3. Property Ownership
Understand the legal concepts of real and personal property, joint ownership, and their relevance in financial planning.
4. Insolvency and Bankruptcy
Explore the legal framework governing insolvency and bankruptcy, including voluntary and compulsory liquidation.
5. Trusts and Their Purpose
Understand the purpose of trusts, types of trusts (bare, interest in possession, discretionary, charitable), and their application in estate planning.
Learning Outcomes
- Understand Contract Law: Explain the key elements of contract formation, including capacity and legal persons.
- Apply Powers of Attorney: Understand when and how to use Powers of Attorney in financial and legal matters.
- Understand Property Ownership: Differentiate between real and personal property, and explain joint ownership structures.
- Assess Insolvency and Bankruptcy Laws: Understand the legal processes involved in insolvency and bankruptcy.
- Understand Trusts: Explain the purpose of trusts and the different types used in estate planning and asset management.
Learning Objectives
- Explain the legal concepts related to contracts, capacity, and legal persons in the UK.
- Apply the principles of Powers of Attorney in managing the financial affairs of clients.
- Understand the different types of property ownership and their relevance in financial planning.
- Navigate the legal processes for insolvency and bankruptcy, and their impact on financial advice.
- Understand the creation, administration, and types of trusts used in estate planning and financial management.
