course content
03/07/2025: 09:00 a.m. - 11:30 a.m.
07/07/2025: 09:00 a.m. - 11:30 a.m.
Module 1: Introduction to Trusts: Legal Concepts and Definitions
1. Historical Development of Trusts
1.1. Overview of the historical origins of trusts – common law and equity.
1.2. Evolution and contemporary relevance
2. Essential Elements of a Trust
2.1. 2.2. 2.3. Settlor, trustee, beneficiary, and trust property
Distinguishing trusts from other legal arrangements (e.g., contracts, wills)
Overview of the criteria that must be fulfilled for a valid trust – the three
certainties.
2.4. Overview of the Cyprus legal framework governing trusts.
2.5. Q&A session
Module 2: Types of Trusts: Legal Structures and Uses
51. Classifying trusts: Public vs. Private
1.1. 1.2. Express Trusts (Fixed vs. discretionary trusts, testementary and inter vivos)
Implied Trusts (Resulting trusts, Constructive trusts: when equity demands a
trust)
1.3. 1.4. International Trusts vs. Local Trusts
Uses of trusts and case studies
1.5. Q&A session
Module 3: Creation and Termination of Trusts
1. 1.1. 1.2. 1.3. 2. 3. Express Trusts (Fixed vs. discretionary trusts, testementary and inter vivos)
Legal requirements for the valid creation of a trust
Formalities: writing, registration, and execution
Trust deeds: key clauses and common pitfalls
Termination of Trusts – how, when and why
Appointment and removal of trustees
Module 4: Legal Duties and Powers of Trustees
1. Fiduciary Duties of Trustees
1.1. 1.2. 1.3. 1.4. The fundamental role of trustees in trust management. Fiduciary Duties, the law,
and the trust deed.
Duty of loyalty: avoiding conflicts of interest
Duty of prudence: acting with care, skill, and diligence
Duty of care and standard of care under the law
2. Trustee Powers
2.1. 2.3. 2.4. 2.5. Statutory basis of trustee powers
2.2. Administrative and dispositive powers
The difference between discretionary and fixed powers.
Delegation of duties and the limits of trustee powers
Types of powers of trustees.
3. Breach of Trust and breach of Fiduciary Duties
3.1. 3.2. 3.3. 3.4. Understanding the scope of liabilities that trustees face in the course of their
duties
Understanding what constitutes a breach of trust (exceeding powers,
mismanagement, etc.)
Consequences and remedies for breach of trust
Consequences and remedies for breach of fiduciary duties.
63.5. Understanding the scope of liabilities that trustees face in the course of their
duties and the disctinction between personal liability and liabilities arising from
the trust estate.
3.6. Legal recourse for beneficiaries.
3.7. Defences available to trustees.
3.8. The importance of indemnity clauses and their limitations.
3.9. The importance of trustee liability insurance.
