Personal Finance and Wealth Management

  1. Estate and Wealth Transfer Planning
    1. Estate Planning Fundamentals
      1. Estate Planning Objectives
        1. Asset Distribution
          1. Tax Minimization
            1. Family Protection
              1. Business Succession
                1. Charitable Goals
                2. Estate Planning Process
                  1. Goal Setting and Prioritization
                    1. Asset Inventory
                      1. Family Situation Analysis
                        1. Tax Planning Considerations
                          1. Document Preparation and Execution
                          2. Common Estate Planning Mistakes
                            1. Procrastination
                              1. Inadequate Documentation
                                1. Failure to Update Plans
                                  1. Poor Communication with Family
                                2. Essential Estate Planning Documents
                                  1. Last Will and Testament
                                    1. Purpose and Function
                                      1. Will Components
                                        1. Appointment of Executor
                                          1. Asset Distribution Instructions
                                            1. Guardian Nominations
                                            2. Will Execution Requirements
                                              1. Will Contests and Challenges
                                              2. Trust Documents
                                                1. Revocable Living Trusts
                                                  1. Trust Structure
                                                    1. Advantages and Disadvantages
                                                      1. Funding the Trust
                                                      2. Irrevocable Trusts
                                                        1. Types and Purposes
                                                          1. Tax Implications
                                                            1. Trust Administration
                                                          2. Power of Attorney Documents
                                                            1. Durable Power of Attorney for Finances
                                                              1. Limited vs. General Powers
                                                                1. Springing vs. Immediate Powers
                                                                  1. Agent Selection and Responsibilities
                                                                  2. Healthcare Directives
                                                                    1. Advance Healthcare Directive
                                                                      1. Living Will Provisions
                                                                        1. Healthcare Power of Attorney
                                                                          1. HIPAA Authorization
                                                                            1. Do Not Resuscitate Orders
                                                                            2. Beneficiary Designations
                                                                              1. Retirement Account Beneficiaries
                                                                                1. Life Insurance Beneficiaries
                                                                                  1. Bank Account Beneficiaries
                                                                                    1. Primary vs. Contingent Beneficiaries
                                                                                  2. Probate Process and Avoidance
                                                                                    1. Understanding Probate
                                                                                      1. Probate Court Procedures
                                                                                        1. Executor Responsibilities
                                                                                          1. Probate Timeline
                                                                                            1. Probate Costs
                                                                                            2. Probate Avoidance Strategies
                                                                                              1. Revocable Living Trusts
                                                                                                1. Joint Ownership Arrangements
                                                                                                  1. Joint Tenancy with Rights of Survivorship
                                                                                                    1. Tenancy by the Entirety
                                                                                                      1. Community Property
                                                                                                      2. Transfer-on-Death Designations
                                                                                                        1. Payable-on-Death Accounts
                                                                                                          1. Small Estate Procedures
                                                                                                          2. Multi-State Probate Issues
                                                                                                            1. Ancillary Probate
                                                                                                              1. Uniform Probate Code
                                                                                                                1. State Law Variations
                                                                                                              2. Wealth Transfer Strategies
                                                                                                                1. Lifetime Gifting Strategies
                                                                                                                  1. Annual Gift Tax Exclusion
                                                                                                                    1. Lifetime Gift and Estate Tax Exemption
                                                                                                                      1. Present Interest vs. Future Interest Gifts
                                                                                                                        1. Direct Payments for Education and Medical
                                                                                                                          1. Family Limited Partnerships
                                                                                                                            1. Grantor Retained Annuity Trusts
                                                                                                                            2. Asset Titling Strategies
                                                                                                                              1. Individual Ownership
                                                                                                                                1. Joint Ownership Forms
                                                                                                                                  1. Trust Ownership
                                                                                                                                    1. Business Entity Ownership
                                                                                                                                    2. Generation-Skipping Strategies
                                                                                                                                      1. Generation-Skipping Transfer Tax
                                                                                                                                        1. Dynasty Trusts
                                                                                                                                          1. Direct Skip Transfers
                                                                                                                                            1. Taxable Distributions
                                                                                                                                            2. Charitable Transfer Strategies
                                                                                                                                              1. Outright Charitable Gifts
                                                                                                                                                1. Charitable Remainder Trusts
                                                                                                                                                  1. Charitable Lead Trusts
                                                                                                                                                    1. Private Foundations
                                                                                                                                                      1. Donor-Advised Funds
                                                                                                                                                    2. Advanced Estate Planning Techniques
                                                                                                                                                      1. Irrevocable Life Insurance Trusts
                                                                                                                                                        1. ILIT Structure and Benefits
                                                                                                                                                          1. Crummey Powers
                                                                                                                                                            1. Generation-Skipping Applications
                                                                                                                                                              1. Premium Payment Strategies
                                                                                                                                                              2. Qualified Personal Residence Trusts
                                                                                                                                                                1. QPRT Structure
                                                                                                                                                                  1. Valuation Benefits
                                                                                                                                                                    1. Risk Considerations
                                                                                                                                                                    2. Sales to Intentionally Defective Grantor Trusts
                                                                                                                                                                      1. IDGT Structure
                                                                                                                                                                        1. Income Tax Benefits
                                                                                                                                                                          1. Estate Tax Benefits
                                                                                                                                                                            1. Installment Sale Features
                                                                                                                                                                            2. Family Limited Partnerships
                                                                                                                                                                              1. FLP Structure
                                                                                                                                                                                1. Valuation Discounts
                                                                                                                                                                                  1. Control and Management
                                                                                                                                                                                    1. Tax Considerations
                                                                                                                                                                                    2. Charitable Remainder Trusts
                                                                                                                                                                                      1. CRAT vs. CRUT
                                                                                                                                                                                        1. Income Tax Benefits
                                                                                                                                                                                          1. Estate Tax Benefits
                                                                                                                                                                                            1. Investment Management
                                                                                                                                                                                          2. Business Succession Planning
                                                                                                                                                                                            1. Succession Planning Fundamentals
                                                                                                                                                                                              1. Identifying Successors
                                                                                                                                                                                                1. Valuation Considerations
                                                                                                                                                                                                  1. Timing Issues
                                                                                                                                                                                                    1. Tax Planning
                                                                                                                                                                                                    2. Buy-Sell Agreements
                                                                                                                                                                                                      1. Triggering Events
                                                                                                                                                                                                        1. Valuation Methods
                                                                                                                                                                                                          1. Funding Mechanisms
                                                                                                                                                                                                            1. Tax Implications
                                                                                                                                                                                                            2. Family Business Transfers
                                                                                                                                                                                                              1. Gifting Strategies
                                                                                                                                                                                                                1. Sales to Family Members
                                                                                                                                                                                                                  1. Employee Stock Ownership Plans
                                                                                                                                                                                                                    1. Management Transition
                                                                                                                                                                                                                    2. Key Person Insurance
                                                                                                                                                                                                                      1. Identifying Key Persons
                                                                                                                                                                                                                        1. Coverage Amount Determination
                                                                                                                                                                                                                          1. Policy Ownership
                                                                                                                                                                                                                            1. Tax Considerations
                                                                                                                                                                                                                          2. Legacy and Philanthropic Planning
                                                                                                                                                                                                                            1. Defining Family Legacy
                                                                                                                                                                                                                              1. Values and Mission Statements
                                                                                                                                                                                                                                1. Family Governance
                                                                                                                                                                                                                                  1. Next Generation Education
                                                                                                                                                                                                                                    1. Wealth Stewardship
                                                                                                                                                                                                                                    2. Philanthropic Strategies
                                                                                                                                                                                                                                      1. Charitable Giving Motivations
                                                                                                                                                                                                                                        1. Tax Benefits of Giving
                                                                                                                                                                                                                                          1. Giving Vehicles Comparison
                                                                                                                                                                                                                                            1. Impact Measurement
                                                                                                                                                                                                                                            2. Private Foundations
                                                                                                                                                                                                                                              1. Foundation Establishment
                                                                                                                                                                                                                                                1. Governance Structure
                                                                                                                                                                                                                                                  1. Distribution Requirements
                                                                                                                                                                                                                                                    1. Tax Implications
                                                                                                                                                                                                                                                    2. Donor-Advised Funds
                                                                                                                                                                                                                                                      1. DAF Structure and Benefits
                                                                                                                                                                                                                                                        1. Contribution Strategies
                                                                                                                                                                                                                                                          1. Grant-Making Process
                                                                                                                                                                                                                                                            1. Investment Management
                                                                                                                                                                                                                                                            2. Family Philanthropy
                                                                                                                                                                                                                                                              1. Involving Next Generation
                                                                                                                                                                                                                                                                1. Family Foundation Governance
                                                                                                                                                                                                                                                                  1. Philanthropic Education
                                                                                                                                                                                                                                                                    1. Legacy Preservation

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                                                                                                                                                                                                                                                                8. Professional Wealth Management