WM Lect 11 Wk 12_Estate Planning_Jessica

WM Lect 11 Wk 12_Estate Planning_Jessica - Wealth...

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Wealth Management FINS2643 Lecture 11 Estate Planning Lecture 11 Summary The Estate Planning Process 1. Objectives a. Succession of control, management, ownership b. Preservation of capital c. Income stream to succeeding generations d. 2. 3. Adequacy of ST and LT funding 4. 5. Strategy 6. Implement 7. Review Methods of asset ownership 1. Individual 2. Co-ownership 3. Discretionary trust ownership 4. Superannuation account Asset protection from: Client’s creditors Client’s beneficiaries’ creditors Family or beneficiaries themselves (intellectually disabled) Estate Assets Non-Estate Assets Available to fund bequests to client’s beneficiaries under will (e.g. via testamentary trusts) Vulnerable to challenges to will by family members, creditors Fully assessable for social security purposes E.g. property, cash, collectables
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This note was uploaded on 04/02/2012 for the course FINS 2643 taught by Professor Fong during the Three '10 term at University of New South Wales.

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WM Lect 11 Wk 12_Estate Planning_Jessica - Wealth...

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