FPL303 Estate Planning

Updated: 26 August 2019
Credit Points 6
Offering
Location Teaching Period Mode of Study
Armidale Trimester 1 Online
Armidale Trimester 2 Online
Intensive School(s) None
Supervised Exam There is no supervised examination.
Pre-requisites candidature in the BCom and 48cp
Co-requisites None
Restrictions None
Notes None
Combined Units None
Coordinator(s) Cynthia Shannon (cshanno5@une.edu.au)
Unit Description

This unit provides students with an understanding of the concepts that are fundamental to estate planning, including taxation implications and the important role of administration of estates. The management of trusts and estates has become increasingly recognised as an occupation within the legal, accounting, tax and financial services professions with new challenges arising such as increased life expectancy. Estate planning remains the strategic advisory component within this area, with the adviser ensuring that the client's estate planning needs and goals can be put into action in the event of death, in the context of their overall financial plan. It is intended that students will gain an understanding of the importance of estate planning not only for those in their later years of life but why estate planning is just as important for those who have assets, debt or dependents.

This unit will include topics that address who can make a Will; what can be left in a Will; the rights of beneficiaries; the role of the executor; the validity of Wills; laws of intestacy; different types of powers of attorney; elements of a trust; asset protection; administration of estates; estate planning and taxation; superannuation and insurance in estate planning; the impact of family breakdown and changes in capacity and cognition.

Prescribed Material
Mandatory

Text(s):

Note: Students are expected to purchase prescribed material. Please note that textbook requirements may vary from one teaching period to the next.

Estate Planning: A Practical Guide for Estate and Financial Service Professionals

ISBN: 9780409339482
Perkins, M. and Monahan, R., LexisNexis Australia 4th ed. 2015

Text refers to: Trimester 1 and 2, Online

Disclaimer Unit information may be subject to change prior to commencement of the teaching period.
Assessment
Must
Complete
Title Exam Length Weight Mode No. Words
Compulsory Client Simulation 30% 2000
Assessment Notes

Simulated client interview.

Relates to Learning Outcomes (LO)

LO: 2-5

Compulsory Online Assessment 30% 1500 equivalent
Assessment Notes

Online test comprising multiple choice and short answer questions.

Relates to Learning Outcomes (LO)

LO: 1-4

Compulsory Strategy Advice 40% 2500
Assessment Notes

Financial planning case study.

Relates to Learning Outcomes (LO)

LO: 2-5


Learning Outcomes (LO) Upon completion of this unit, students will be able to:
  1. demonstrate a well developed understanding of the overall estate planning needs for clients;
  2. review and critique the succession planning needs of clients and the associated tax implications;
  3. explain in detail the key asset protection issues clients should consider and provide guidance as to the difference in regulations across Australia;
  4. critically assess the implications for estate planning of family breakdown and ageing and cognition changes; and
  5. integrate different estate planning strategies and their financial consequences as they relate to complex client scenarios.