Estate planning in its entirety is a broad discipline that includes advanced legal and accounting issues that are beyond most advisers' expertise or responsibility. You know that no legal or accounting advice can be dispensed, except by those with proper authority to do so, but there are certain basics that you should know about estate planning if you are going to work effectively in this market as a financial services representative.
This section of the course looks at the basic features and characteristics of estate planning as they pertain to the work you do. It does not cover the federal estate tax; that is reserved for Section IV. When you've completed this section, you'll understand:
- The benefits of estate planning to the client
- The three basic phases of a typical estate
- The role of life insurance in the estate plan and
- The estate planning team, and the agent's unique role on it.
