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Overview/History of Trusts. The student will be introduced to the Trust Institute Foundation of the Philippines and to the other participants of the course. Stress will be given on what the students can reasonably expect from the course as well as on the demands of the course on the student.

The rest of the session will deal with the history of trust as a juridical institution and will attempt to enable the student to distinguish trust from other fiduciary relationships.

Establishing the Trust Relations. The lecture will go into the methods of creating trusts. Substantive as well as formal requirements demanded by each one of the methods will be discussed.

Administration of Trusts. Centering on the Prudent Man Rule, the lecture will treat on the various duties of a trustee as well as his different powers. Drafting suggestions will be given to avoid, or at least minimize, conflicts between bank and client arising from a misunderstanding of their mutual expectations.

Termination of Trusts. The methods of terminating the trust relationship as well as the protective devices the trust department may enjoy at the termination of the trust relationship will be discussed in this session.

Liabilities of Trustee; Remedies of Beneficiary. The lecture will revolve around the consequences of a breach of trust. It will explain the liability of a trustee for its malfeasance or non-feasance. At the same session, it will deal with how the beneficiary can protect itself from the trustee's breach.

Depositary Relationships. Accounts of least management functions will be discussed in this lecture. The lecture will deal with the duties of a custodian as well as an escrow agent, with special emphasis on safeguards that must be written into the agreements to protect the contracting trust department.

Guardianship and Other Court Trusts. The lecture will explain the peculiarities of a court-supervised trust account and will discuss the functions of a trust department acting as guardian, as executor or administrator or as receiver.

Collateral Trust Functions. The lecture will deal with the duties of a trust department acting as collateral trustee for bond issues as well as syndicated loans. The conflict of interest problems arising when a bank is a lender and collateral trustee of the same loan or bond issue will be discussed.

Transfer Agency and Other Functions. The role of a transfer agent or registrar for corporate stocks and bonds will be the subject of this lecture. Government regulations as well as conflict of interest situations will also be discussed.

Law on Donations. This lecture starts the discussion of the legal back drop of trust arrangements. The first significant area of law is the law on "inter vivos" gifts which give rise to numerous types of trust accounts. The lecture will deal with the essentials of a valid gift and the limitations on the right to make a gift.

Will Drafting and Intestate Succession. This lecture will introduce the student to the intricate rules of making a will as well as the rules of intestacy. These areas of law provide a deeper understanding of testamentary trusts as well as executorship and estate administratorship.

Tax Aspects of Gratuitous Transmission of Wealth. The significant factor of taxes in giving "inter vivos" or by will, will be the subject of this lecture. A comparative treatment will give the student some appreciation of the difficulties involved in choosing one form of giving over another.

Employee-Benefit Plans. The lecture will give the student an understanding of the role of employee-benefit plans in compensation packages, the kinds of employee benefit plans, their basic features. The tax advantages of a qualified plan, the current problems and issues in design, management and investment of pension and retirement funds will be discussed.

Basic Estate Planning. Building on the knowledge acquired by the student in the previous sessions, this session will discuss the importance of estate planning and its tools and techniques. A workshop on a hypothetical client will be the basis of the discussion.