FPC005 Estate and Succession Planning

This subject focuses on 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 the role of the financial adviser and the necessity to work with referral partners to incorporate estate planning into financial advice to provide effective and comprehensive client solutions.

Students will respond to a fictitious case study through the assessment, so that they can apply their understanding of the above concepts, to provide effective and comprehensive client solutions.

For more information, please refer to the subject outline.

  • Learning outcomes
    • On successful completion of this subject, individuals 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

  • CPD
    • Kaplan Professional has assessed this subject. Click here for the following CPD hours applicable from 1 January 2019 on successful completion of this course. For subjects or courses completed prior to this date, please contact Kaplan Professional’s CPD Support team on 1300 527 526 or pdmail@kaplan.edu.au.

  • Duration
    • The duration of this subject is one study period (12 weeks).

  • Assessment
  • Prerequisites
    • There are no prerequisites for this subject.

      However, individuals should review the ‘Assumed Knowledge’ tab to understand the prior knowledge Kaplan advises they should hold before enrolling in this subject.

  • Assumed knowledge
    • Whilst there are no prerequisites for this subject, Kaplan assumes that individuals have completed FPC003 Superannuation and Retirement Advice and FPC004 Insurance Advice, or understand the content covered in those subjects, prior to undertaking FPC005 Estate and Succession Planning.

  • Course transition subject equivalence
    • Individuals may not be required to complete this subject if they have transitioned from a SIA/Finsia/Kaplan course and have completed the following subjects:

      • there are no equivalences for this subject.
  • Reading list
    • There is no prescribed text for this subject.

      Individuals are provided with key readings and access to Kaplan’s online databases. Individuals are encouraged to research and read widely on the topic.