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SMU Certificate: Personal Estate Planning (IBF Level 2)

Curriculum

Introduction to Estate Planning 

  • Objectives, assumptions and requirements of estate planning
  • Major components of estate planning – financial,  tax, social and legal
  • Importance of estate planning – case studies on pitfalls
  • Understanding complexity and concept of domicile 

Financial & Tax Issues, Leakages & Other Pitfalls  

  • Classes of assets – valuation and cash flow considerations
  • Identify short and long term financial needs
  • Potential conflicts between investment, retirement and estate planning
  • Leakages from an estate – taxes, debts and expenses
  • Types of taxes and impact on estate planning
  • Pitfalls arising from financial and tax issues  

Social Aspects in Estate Planning 

  • Estate planning vs. legacy planning
  • People and organisation considerations in wealth distribution
    • marital and family status
    • cross cultural and generation
    • relationship with beneficiaries
    • financial, legal and mental capacity
    • special needs and philanthropy 
  • Pitfalls arising from social issues
  • Role of insurance in estate planning

Legal Structures, Tools & Implication            

  • Law of distribution – Law of the Land, General and Special Laws
  • Asset ownership and method of distribution
  • Basic estate planning tools – wills, nominations, survivorship, trust, etc.
  • Key representatives, roles and responsibilities
  • Introduction to trusts

Planning for Business Owners

  • Issues and risk faced by business owners
  • Planning tools for business owners – selective executive retention plan, keyman insurance, buy-sell funding, guarantor insurance

Developing Efficient & Effective Estate Plan

  • Identify estate planning goals
  • Analyse clients needs
  • Develop a comprehensive estate plan with the appropriate strategy, tools, documentation requirements for execution

Last updated on 29 Jan 2018 .