FIN 4220 - ESTATE PLANNING

credits: 3.0
This course covers concepts, analysis, and application of estate planning techniques. Students will understand the estate planning process and the documents needed for an estate plan, such as a will, durable power of attorney for healthcare and an advanced medical directive. The course includes key topics on property ownership, assets that pass through and around the probate process, gift and estate taxes, and planning methods to reduce an individual’s tax liability. Objectives: A) Prepare an estate plan; B) Describe the estate planning process; C) Identify the purpose of the various estate planning documents; D) Apply gift and estate tax concepts; E) Explain how to comply with gift and estate tax rules; F) Calculate gift and estate taxes; G) Determine sources for estate liquidity; H) Identify types, features, and taxation of trusts; I) Explain the marital deduction; J) Arrange the procedures for intra-family and other business transfers; K) Advise on postmortem estate planning methods; L) Recognize the estate planning needs for non-traditional relationships. Method of Instruction: Lecture, Demonstration, and Collaboration. Method of Evaluation: Quizzes 25%; Case Presentation 25%; Final Exam 25%; Class Attendance and Participation 25%. Class attendance, and active participation are equally included in the grade weighting.

Prerequisite(s): FIN 3275 - FUNDAMENTALS OF FINANCIALPLANNING