Specific Learning Objectives by Lesson

Titling of Assets Issues

• Identify a typical item of property according to its legal classification.
• Identify the two types of property law in the United States.
• Compare and contrast the two types of property law in the United States.
• Identify the type of property ownership from a general description.
• Distinguish the types of property ownership that are subject to probate from those that are not.

Liabilities, Debt, and Lending Issues

• Identify common liabilities, debt, and lending issues found when working with ultra-high net worth clients.
• Given a client scenario, identify potential issues that must be considered before granting a loan request.
• Given a client scenario, identify the most appropriate solution from alternatives presented.

Gifting During Life Issues

• Explain what motivates ultra-high net worth clients to make gifts to descendants and others.
• Explain how taxes are calculated and filed for gifts to descendants and others.
• Define the various types of gifts.

Charitable Gifting Issues

• Explain what motivates clients to make charitable gifts.
• Identify the considerations for clients who want to make charitable gifts.
• Explain the income taxation treatment of charitable gifts.
• Explain the estate and gift taxation of charitable gifts.
• Identify the major types of charitable gifting techniques.

Distribution of Wealth At Death Issues

• Describe the importance of effective planning for the distribution of wealth at death.
• Identify the tax considerations when planning for the distribution of wealth at death.
• Explain the five elements of a valid trust.
• Explain the distribution of wealth options when providing for family members.
• Identify the various types of marital deduction trusts and their utility.
• Describe the role of the financial advisor in estate planning discussions.
• Identify the procedural steps to take when a client dies.
• Identify the procedural steps to take when a client family member dies.

Business Succession Planning Issues

• Identify common issues that are relevant to business succession planning.
• Identify the proper questions to ask to surface the issues related to business succession planning.
• Describe the techniques for transferring a business during a client’s lifetime or at death.
• Describe the key issues associated with transferring a business interest to family members.
• Describe the key issues associated with transferring a business interest to employees of the company.
• Describe the key issues associated with selling a business interest to a third party.
• Given basic client information, apply knowledge of the common issues to provide the best solution.

Insurance Issues

• Understand the importance of insurance and how it can be used.
• Understand the different types of insurance and when they are used.
• Understand the primary uses of life insurance related to wealth management.
• Understand the basic types of life insurance policies.

Compensatory Stock Option Issues

• Define the four significant dates associated with stock options.
• Identify some of the requirements and tax consequences of incentive stock options.
• Identify some of the requirements and tax consequences of non-qualified stock options.
• Identify some of the requirements and tax consequences of restricted stock grants.
• Recognize the additional specialized stock plans, including delta stock plans, stock appreciation rights, phantom stock plans, and junior stock.
• Explain the alternative minimum tax implications and how they are calculated.

Qualified Retirement Plans and IRA Distribution Issues

• Understand the characteristics of QRPs and NQRPs.
• Understand distribution strategies as an important consideration when dealing with a client’s QRP and IRA issues.
• Understand the different types of IRAs and their potential uses for ultra-high net worth clients.
• Understand the characteristics of the three significant periods of distribution for QRPs and IRAs.
• Understand the importance of the beneficiary designation.
• Understand common issues relevant to the timing of distributions from QRPs and IRAs.

Investment Issues

• Given a phase of the Client Wealth Position Lifecycle, identify the related implications and questions for your clients.
• Describe the rationale behind following a systematic investment management process.
• Given a stage of the investment management process, identify its purpose and related tasks.
• Describe the concepts that serve as the foundation of a systematic investment management process.
• Identify the two greatest risk factors facing investors.
• Given a common investment myth, describe the related risk.