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Use of Trusts in Tax and Estate Planning
Investment & Retirement, Succession & Estate Planning
PROGRAM: Succession and Estate Planning Specialist
Trusts are used on an ever-increasing basis to plan for wealth and succession objectives for medium and high worth clients. The advisor who can assist with that process enjoys the opportunity to nail down a long-term, potentially intergenerational connection to the client and their family.
CONTENT DESCRIPTION AND KEY CONCEPTS:
Every financial advisor who discusses tax, financial or investment plans with clients should have a basic understanding of the taxation of trusts in order to discuss estate planning options with clients. This course provides a detailed primer in the subject area featuring common true to life scenarios.
CERTIFIED SKILLSETS. Using a case study approach, you will learn
- How to explain trusts in basic terms to clients, and to under stand basic trust workings.
- How to reduce income taxes using charitable remainder trusts, estate freezes, and testamentary trusts.
- How to avoid probate fees using alter ego trusts and RRSP trusts.
- How to protect children from gold-diggers, protect wealth from creditors and protect beneficiaries from poor financial judgment using control designed trusts.
- How to help clients help their disabled beneficiaries.
- How to identify opportunities and needs for insurance products as part of trust planning.
- How to become part of a succession planning team that advises the next generation.
KNOWLEDGE BUREAU TOOLS INCLUDED:
- EverGreen Explanatory Notes
-
Knowledge Bureau Calculators
- Income Tax Estimator
- Marginal Tax Rate Calculator
- Registered vs. Non-Registered Savings Calculator
- Tax-Efficient Retirement Income
- Key Trust Planning Questions
- Tip Sheet on Nation Wide Probate Fees
- Glossary of Key Concepts
MARKS ALLOCATION:
| Quizzes | 60% |
| Case Studies | 15% |
| Final Exam | 25% |
| Passing Grade | 60% |
| Honours Achievement | 90% |
