Fundamentals of Estate Planning

This course was developed by the editorial staff of Pentera Group, Inc. 

Estate planning involves ordering an individual’s affairs to promote effective protection and management of assets, with a view to their eventual transfer to members of succeeding generations. Life insurance producers and other financial practitioners are often called upon to provide products and services that will help clients achieve these objectives for large and small estates. The purpose of this course is to offer a comprehensive overview and understanding of estate planning, the first step for practitioners who want to transition into this advanced field of practice.

The course covers the following topics:
  • wills and income in respect of a decedent
  • types of property ownership
  • lifetime gifts 
  • the federal estate tax 
  • how an estate owner can plan to pass assets to a surviving spouse
  • the generation-skipping transfer tax 
  • irrevocable life insurance trusts 
  • how to pass assets to children
  • family limited partnerships—how they work and their advantages in estate planning
  • planning for incapacity or incompetence
This is an advanced level course. Upon conclusion, the student will be able to:
  • apply the use of wills and income in respect of a decedent to estate planning
  • describe different types of property ownership
  • explain the benefits of making lifetime gifts, and how clients can do so in a tax-favored manner
  • demonstrate understanding of how the federal estate tax can impact an estate, and how to minimize that impact
  • apply ways in which a spouse can plan to pass assets to a surviving spouse
  • describe how the generation skipping transfer tax works
  • interpret the value of irrevocable life insurance trusts and other trusts available as estate planning tools
  • explain how to pass assets to children
  • compare and contrast family limited partnerships—how they work and their advantages in estate planning
  • devise ways to help clients plan for incapacity and incompetence