MODERN ESTATE PLANNING – MODULE 2 (MEP2) CLASSROOM TRAINING TGS-2022602500
Introduction
Highlights
Course outline
Instructors
This course provides financial planners with an intermediate understanding of the estate planning needs of the modern individual who today is wealthier and lives longer than ever before, well-travelled and likely to own his own business at some point in time.
What will you learn?
Understand the different inheritance systems of selected countries in Asia and how financial planners can assist their foreign clients in their planning
Bring in later-life instruments to help complete the estate planning needs of clients
Learn how LPA Form 2 can be customised for both family and business situations
Course Description
We learn about selected inheritance systems (Malaysia, Thailand, Indonesia and China) and how they differ in terms of legal system, testamentary freedom v forced heirship, community property regime and estate duty. As 40% of Singapore consists of foreign-born persons, financial planners will find this knowledge important in dealing with their foreign clients.
The Lasting Power of Attorney Form 2 offers customisation (whereas Form 1 does not) of a person’s wishes in the event they lose mental capacity. Form 2 provides business owners a way to appoint different donees for their personal versus business assets. This is an area that is very much overlooked by business owners.
We look at how the Advanced Medical Directive is a humane instrument with which we can instruct doctors to “pull the plug” when terminal illness sets in. We look at Advanced Care Planning as the software to explain our values and the choices we have made in our lives.
Finally, we examine how the family of a deceased can experience a hassle-free probate and estate administration where assets can be accounted for and there is sufficient liquidity. With insurance, we can settle the estate and pay for long-term trust administration and permanent loss of income.
Attendees will gain practical knowledge from actual case studies to guide their clients in their estate planning as well as enhancing their core financial planning practice. The trainers are not only accomplished estate planning practitioners in the legal, financial and trust industries but are excellent at simplifying and communicating technical content.
- Learn basic estate planning for foreigners in Singapore. Discover how some Asian inheritance systems differ in terms of forced heirship, marriage regimes and estate tax.
- Understand how the LPA can be customised. Link the LPA to a living trust so that your family can be better looked after if you lose mental capacity.
- The majority of HNW individuals give during their lifetimes. Giving can be achieved during and after one’s lifetime. Insurance can help to regenerate trust funds for long-lasting giving.
Course Content
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Part 1
Part 2
LPA form 2
3 Topics
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Trainers
