STEP Diploma case studies
STEP Diploma · Put your knowledge to work in context.
The STEP Diploma in Trusts and Estates is a professional qualification for practitioners who administer trusts and estates and advise on private client matters - typically trust and estate practitioners, private client lawyers, accountants and fiduciary staff working in-house or in private practice. Its syllabus is broad by design: trust creation, types and administration; wills, intestacy and probate administration; the taxation of trusts and estates; the legal, regulatory and ethical framework; trust and estate accounting; planning and advisory practice; cross-border considerations; and investment and asset management. The STEP Diploma case studies are 5 cases and about 3,959 words.
1Reserved Powers, a Protector's Consent and a Loan to a Beneficiary-Connected Company
In March 2019, Aisha settled £2.4 million on an English-law discretionary trust for her adult daughter, Nadia, Nadia's two minor children and remoter issue. Aisha reserved the right to appoint and remove trustees and to veto distributions; her accountant, Peter, is protector with power to consent to investment changes.
835 words, about 4 min2A Defective Will, a Disappointed Stepdaughter and an Unadministered Estate
Harold died in January 2024. His will, drafted on a DIY form in 2018, leaves 'my flat in Whitby to my stepdaughter, Claire' and the residue to 'my children'.
809 words, about 4 min3Periodic Charge, Business Relief and a Soft Loan to a Beneficiary
The Fenwick Discretionary Trust was created in 2014 by Mr Fenwick with £2 million. The beneficiaries are his widow, Margaret, and their two adult children.
801 words, about 4 min4A Co-Trustee's Misappropriation and a Client's Request for Silence
You are the principal of a small STEP-regulated trust company. In February, a beneficiary of the Kestrel Trust, Priya, asks why a £180,000 distribution approved in 2022 was never received.
766 words, about 4 min5Concentrated Stock, a US Beneficiary and Overdue CRS Reporting
The Okonjo Family Trust is a Guernsey discretionary trust with a corporate trustee. The settlor, a Nigerian national, settled £5 million in 2018.
748 words, about 4 min