Estate Planning

Lesson 1

• Introduction
• Assessing Family Needs, Priorities, And Estate Planning Goals
• Approaching The Estate Planning Issue
• Dying Intestate: The Government's Solution
• The Will
• Why a Will is Drawn Up
• Formats of a Will
• The Basic Clauses of a Will
• Special Clauses in the Will
• Appointing Guardians for Minor Beneficiaries
• The Common Disaster Clause
• Per Stirpes Versus Per Capita
• Restrictions on Testamentary Freedom
• Amending or Replacing a Will
• Assets Covered by a Will and Assets Outside of the Estate
• Reviewing the Will to Ensure it Meets the Client's Needs
• Probate Procedures to Validate a Will

Lesson 2

• The Executor
• Selection of the Executor
• The Wealth Manager as an Executor
• Corporate Executor
• Powers of Executor
• The Legal List of Allowable Investments
• Prudent Investor Standard of Care
• Executor Compensation
• Tax Minimization and Deferral Prior to Death
• Disposition of Capital Property Prior to Death
• Transfer of a Capital Property to a Spouse/Spousal Trust
• Transferring Capital Property to a Corporation
• Estate Freezing
• The Basic Objectives of Estate Freezing
• The Use of Holding Companies and Inter Vivos (Living) Trusts
• Risks of Estate Freezing
• Partnership Income
• Death Taxes

Lesson 3

• Estimating the Client's Final Tax Liability
• Techniques to Defer or Reduce Taxes
• Transfer of Property to a Surviving Spouse
• Naming a Spouse as Beneficiary on RRSPs or RRIFs
• Naming Financially Dependent Children as Beneficiaries
• RRSPs on Marriage Breakdown and Death
• Applying Unused Capital Losses
• Life Insurance
• Spending More Before Death
• Farm Properties
• Falling Market Values after Death
• Filing Income Tax Returns at Death
• Rights or Things
• Tax Return for a Deceased Proprietor or Partner
• Income Beneficiary of a Testamentary Trust
• Allowances for Capital Losses
• Charitable Gifts
• Rules Regarding Charitable Donations
• Building the Estate Planning Team
• The Family
• The Lawyer
• The Accountant
• The Business Valuator
• Estate Appraiser
• Funeral Director
• The Gift Planner
• The Grief Counselor

Continuing Education (CE) Credits

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