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Fundamentals of Estate Planning – Learn the basics and earn CPD hours

Estate planning is a very important aspect of holistic financial planning. It gives clients comfort knowing that they have properly planned and made provision to protect their loved ones in the event of death and protects families with young children, minimising the eventual tax burden on heirs as well as helping to avoid other potentially devastating consequences.

Death triggers the winding up (closure) of the deceased person’s estate. A number of factors need to be taken into consideration in the process of winding up an estate. For example, is the deceased person’s partner deemed to be a spouse (where relevant)? Where the deceased person was married, what marital regime under the Matrimonial Property Act applied? Does the surviving spouse inherit any assets? Did the deceased provide adequately for maintenance of his or her spouse?

Once the marital status and regime, terms of the Will or Intestate Succession are known, an estate duty calculation can be performed taking the provisions of the Estate Duty Act into account. A set process applies to determine estate duty payable, if any. Estate duty, where this applies, can be reduced through estate planning. Even when an estate will not be subject to estate duty as the value is below the dutiable estate level, estate planning can assist in reducing costs and ensuring that the client’s objectives are met through correct structuring of the estate plan.

The Moonstone Business School of Excellence has developed a course that provides guidance on the purpose, principles, main rules and laws in relation to estate planning. It is not a comprehensive study of estate planning as the aim is to serve as a refresher and update on the main concepts or to build fundamental knowledge on estate planning.

Course Outcomes:

After completion of this course you will be able to demonstrate an understanding of:

The context for estate planning in relation to a spouse and children.
The requirements in terms of Wills and the Law of Intestate Succession.
The role and duties as well as the fees for payment of the executor of an estate.
Income tax and capital gains tax as it applies to deceased estates.
Bequests, trusts and other limited rights instruments and their impact on an estate.
The requirements of the Estate Duty Act and be able to calculate estate duty.

You will also be able to provide basic recommendations for improving a client’s estate plan.

Who should attend?

Financial advisors, financial planners, paraplanners, FSPs, business owners, key individuals, employees of financial services institutions

This course has been approved for 5.5 FSCA CPD hours.

Click here to read more of the course and to enrol.

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