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Course Objective


            This course was created to teach advisors (CPAs, EAs, accountants, attorneys, financial planners, and insurance advisors) about the basic elements of estate planning and the tools used to help clients.  Most advisors are aware of wills, trusts, durable powers, irrevocable life insurance trusts, but many times clients do not have these basic tools or if they do have them, they are not setup correctly.  This material will remind and refresh the memories of advisors that already are supposed to know this material and point out why many clients need to have their “basic estate plans fixed or updated.


Estate Planning

The Basics


1) Introduction


2) Wills

            a) How often should a will be updated?

            b) Holographic wills

            c) Disinheriting a spouse


3) Durable Powers of Attorney

            a) What is a Durable Power of Attorney (DPA)? 

            b) Why would such a document save time and money? 

            c) Types of Durable Powers

            d) “springing powers”

e) Delegating medical treatment options and/or directives

f) What is a Living Will?


4) A&B, Marital, or Living Trusts

            a) What are the benefits of A&B trusts?

            b) Avoid Probate

            c) Maximize Estate Tax Exemptions

            e) Examples

            f) Revocable


5) Irrevocable Life Insurance Trusts (ILIT)

            a) Life Insurance

            b) Income tax free death benefit 

            c) Estate tax free death benefit

            d) ILIT has to own the policy


6) Dynasty Trusts


7) Divorce Protection

            a) How do Clients Protect Inherited Assets in a Divorce?

b) Prenuptial Agreement


8) Generation Skipping Tax (GST)

            a) GST Exemptions

b) Why use a Generation Skip?

c) Limits on the Dynasty


© 2017 The Wealth Preservation Institute • St. Joseph , MI • (269) 216-9978