Introduction

This course introduces students to the principles of retirement and estate planning as well as current issues in these areas. The course is designed to enable students to understand and be conversant with the basic language of retirement and estate planning, and to understand the pertinent provisions of the US Internal Revenue Code related to these topics. The course focuses on training an individual’s ability to use this information for making both short-term and long- term planning decisions. The course progresses at a rapid pace and requires students to prepare regularly for each class session instead of waiting until the exams. Topics include retirement planning tools, techniques and plans, estate and gift tax calculation and compliance, estate planning tools and techniques (both pre and post death), probate and non-testamentary disposition of assets, the use and purpose of trusts, family gifting strategies, estate liquidity, business succession planning, Social Security, Medicare and Medicaid and retirement plan distributions.

Prerequisites: None

Course Objective

The course is designed to:
• Explain the rules and regulations related to retirement and estate planning
• Demonstrate the tools and techniques used to maximize retirement savings and distributions
• Illustrate the estate planning tools and techniques utilized to maximize the transfer of wealth during life or at death
• Explain the estate planning process, the estate and gift tax system, the process of transferring and titling assets
• Provide examples of estate planning opportunities for individuals and families, the documents used in estate planning.
• Explain in depth the strategies used in estate planning, including the effect of insurance and social programs (like Social Security, Medicare and Medicaid) on retirement and estate planning
• Demonstrate how assets are valued for estate planning purposes

Course Outcomes

By the end of this course students will be able to:

• Understand the rules and regulations related to retirement and estate planning
• Understand and analyze the tools and techniques used to maximize retirement savings and distributions
• Understand and analyze the estate planning tools and techniques utilized to maximize the transfer of wealth during life or at death
• Recognize the estate planning process, the estate and gift tax system, the process of transferring and titling assets
• Identify estate planning opportunities for individuals and families, the documents used in estate planning. Gain a comprehensive understanding of the strategies used in estate planning
• Identify the effect of insurance and social programs (like Social Security, Medicare and Medicaid) on retirement and estate planning
• Understand how assets are valued for estate planning purposes
• Utilize these financial principles to make better investment decisions
• Appreciate and understand how insurance, business succession planning and gifting strategies can work for the preservation of wealth
• Communicate effectively, critically, and analytically in all written and oral assignments and
• Develop an understanding of how practitioners apply these concepts when working with clients.

Textbook

• Required Text: Private Wealth Management: The Complete Reference for the Personal Financial Planner, by G. Victor Hallman, and Jerry S. Rosenbloom, 9th Edition, McGraw- Hill, ISBN: 978-0071840163. HR
• Other required readings: White papers and other industry publications
• Additional Materials: Topical reports to be provided during the semester

Grading Policies