IFSP Trusts Foundation Certificate study plan

Map the Trusts Law syllabus into a one-page outline covering creation requirements, the three certainties, and constitution of trusts

Define in your own words the difference between a fixed trust, a discretionary trust, and a bare trust, with one worked example each

Explain the distinction between legal and equitable title and identify who holds each in a simple inter vivos trust

Draft a 10-term glossary of core trusts vocabulary (settlor, trustee, beneficiary, reversion, resulting trust)

Distinguish express, resulting, and constructive trusts and state the triggering facts for each

Apply the certainty of intention, subject matter, and objects tests to three short fact patterns

Explain the beneficiary principle and identify when purpose trusts fail

Summarise the formalities for declaring a trust of land versus personally held assets

Outline trustee duties: loyalty, no-profit, investment, and duty to account

Explain fiduciary obligations and identify a conflict-of-interest breach in a scenario

Describe the powers trustees hold and how those powers are limited by the trust instrument

List the remedies available to beneficiaries for breach of trust, including tracing and personal claims

Consolidate Trusts Law by re-testing the three certainties and trustee duties under timed conditions

Define trust management scope: administration, record-keeping, distributions, and reporting

Explain how the trust instrument governs administrative discretion and beneficiary communication

Identify the documents a trustee must maintain to evidence sound administration

Describe the trustee onboarding process: reading the deed, confirming assets, and identifying restrictions

Explain how distribution decisions are documented and authorised within a discretionary trust

Outline the trustee's duty to keep beneficiaries informed and how conflicts are disclosed

Describe the process for recording and approving trustee decisions at meetings

Explain the principles of trustee investment: suitability, diversification, and review

Describe how a trustee assesses and records risk tolerance and investment objectives

Outline the trustee's role in monitoring trust accounts and reconciling asset records

Identify the reporting obligations owed to beneficiaries and to any co-trustees

Apply trust management principles to a scenario involving a distribution request and a conflict of interest

Explain how breach-of-duty risk is identified and escalated during administration

Revisit Trusts Law weak points from the week 4 error log and close each gap

Practise answering mixed-domain questions under exam timing

Complete two full-length timed mock exams and record scores by domain

Review every incorrect answer and state the underlying rule in one sentence

Recite the core trusts definitions and trustee duties from memory without notes

Finalise a one-page exam-day reference sheet limited to rules you can already explain