Module Overview
Module 1 explored the legal and tax environment affecting estate plans. Module 2 discussed the planning tools available to the financial planner. This Module examines the process and techniques of drafting an effective estate plan.
Estate planning is the process of planning for the use, conservation, and transfer of wealth. An effective estate plan must meet the personal needs of the estateholder within a complex legal and financial environment. There is no single “right” plan for any situation — each estate poses a unique set of problems with a variety of possible solutions. Selecting among these alternatives is highly subjective.
Planning Team
The professionals who collaborate to design and execute the estate plan: attorneys, accountants, life insurance agents, financial planners, and fiduciaries.
Planning Process
Four phases: assess the current situation, evaluate options, select strategies, and execute and update the plan.
Financial Planning & Strategies
Property distribution decisions, liquidity planning, tax strategies (marital deduction, bypass trusts, charitable giving), and insurance planning.
Implementation
Executing the plan, coordinating ownership and beneficiary designations, and reviewing the plan as circumstances change.
Module 3 Pages
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