Updated: May 3
Continuing education is an all-encompassing term within a broad list of post-secondary learning activities and programs. On the other hand, professional continuing education is a specific learning activity generally characterized by the issuance of a certificate or continuing education units for the purpose of documenting attendance at a designated seminar or course of instruction. Licensing bodies impose continuing education requirements on members who hold licenses / designations to continue practicing or using a particular designation. For example the Chartered Financial Analyst or Chartered Financial Planner designations have requirements intended to encourage professionals to expand their foundation of knowledge and stay up-to-date on new developments.
Northland Wealth Management was created to provide not only investment management services, but also comprehensive advice and counsel on the management and preservation of wealth for our clients. An ever more evolving and integral part of the latter is centered on Trust and Estate Planning.
The Trust and Estate Practitioner designation (TEP) is a worldwide recognized designation and is a way to identify qualified practitioners and distinguish them from non-specialists who occasionally deal with trusts and estates. The TEP designation is offered by the Society of Trust and Estate Practitioners and is the leading international organization for trust and estate professionals.
As specialists in inheritance and succession planning, professionals with the TEP designation may draft wills and trusts, administer estates, act as trustees and advise families on how best to structure their finances to ensure compliance and preserve their assets for future generations.
In their practice, professionals who hold the TEP designation often help people at difficult or emotional times, such as after the death of a close family member. Some examples are:
• providing for an individual following their partner’s death, while protecting the interests of their children
• ensuring elderly or vulnerable relatives are cared for and supported • helping families with interests spread across the world to be compliant with the laws and tax rules of different countries
• ensuring that a family business will pass safely from one generation to another • helping clients to support charitable causes in an effective way.
To be awarded the TEP, practitioners must have a combination of specialist qualifications and experience, including significant involvement with the planning, creation, management of, and accounting for trusts and estates, executorship administration and related taxes, along with a four part course program which includes: Law of Trusts, Taxation of Trusts & Estates, Wills, Trust & Estate Administration, and Trust & Estate Planning.
We are excited to report that Grant Dawes is on his way to attaining his TEP designation and will be writing his final course exam in the spring of 2019. This will play an integral part in the services we at Northland Wealth provide to the families we serve.