Lifecycle Financial Planning: Estate Planning - Will & Advance Directive Considerations

Overview

If you work with individual clients on personal financial planning or tax matters, it is natural for them to bring up end of life issues. When is the right time to draft a will? What are medical directives? What is probate? Even if you end up referring clients to an attorney to help them address these issues, it is important for you to know something about these topics. You can help clients better be prepared for their conversations about estate plans, if you know the topics to bring up. In this course, we will discuss basic estate planning questions that most clients need to address. We will talk about common will provisions and medical directives, so that you can feel more comfortable with the vocabulary of these topics. You can get your clients thinking about these topics, so that they can be better prepared to address them.

Highlights

• Common terms in a will
• The role of the executor
• Executor compensation
• Per stirpes vs per capita
• Living wills
• Pour over wills and revocable trusts
• Irrevocable life insurance trusts (ILITs)
• Powers of attorney
• Questions for clients to consider
• Summing It Up

Prerequisites

None

Designed For

Practitioners who engage in personal financial planning.

Objectives

• Identify important topics to bring up with clients when it comes to discussing wills.
• State when a living will should be considered by a client.
• Recognize common terms in wills and trusts.

Preparation

None

Notice

This is a self-study/on demand course offered by a 3rd party vendor. Course access information will be emailed directly to you by Peters Professional Education (PPE). The course expires one year from the purchase date.