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FPC005 Estate and Succession Planning

This subject provides students with a comprehensive overview of issues relating to succession and estate planning. It addresses estate and non-estate assets, complex estates, succession planning for businesses, trusts and other ownership structures. It also explores the tax implications on death of a member or owner of these arrangements.

The subject examines role of the financial planner and the necessity to work with referral partners to incorporate estate planning into financial advice to provide effective and comprehensive client solutions.

For more information, please refer to the subject outline.

  • Learning outcomes
    • At the completion of this subject students should be able to:

      1. Explain the initial and ongoing financial planning advice you provide to clients regarding estate management issues.
      2. Demonstrate knowledge and understanding of how assets are treated upon death, incapacity, divorce or insolvency.
      3. Analyse the initial and ongoing estate planning and succession risks faced by clients.
      4. Propose a range of strategies and potential solutions to manage clients’ estate risks.
      5. Propose a range of strategies and potential solutions related to business succession planning including rural circumstances.
      6. Explain the implications of choosing various estate or succession planning strategies to clients.
  • Subject content
    • Topic Title
      Topic 1 Introduction to estate and succession planning
      Topic 2 Wills
      Topic 3 Attorneys and guardians
      Topic 4 Asset ownership and trusts
      Topic 5 Family law, insolvency and philanthropy
      Topic 6 Dealing with superannuation
      Topic 7 Overview of business succession planning
      Topic 8 Business succession strategies

  • Assessment
  • Prerequisites
  • Course transition subject equivalence
    • Students who transition from a SIA/Finsia/Kaplan course and have completed the following subject within the course completion time frame may not also complete this subject:

      • FIN214 Insurance, Succession and Estate Planning or
      • E153 Risk Management and Estate Planning
  • Reading list
    • Prescribed text

      • Australian Master Financial Planning Guide 2017/18, 20th edn. CCH Australia Ltd.

      Retailers of educational books include Co-op Bookshop and Boffins Bookshop. Texts can also be borrowed from the Kaplan library or other libraries. Details of required and further reading are provided in the subject room.  Purchase of any text other than a prescribed text is not required.