A N.E.W. Approach to Estate Planning

Target Audience
– Suitable for officers who needs to do planning to distribute their own estate in an efficient and effective way

Synopsis
Many people are more anxious about planning for and achieving the first 3 Wealth Pillars (accumulation, protection and management) but pay little attention to the 4th Pillar – Wealth Distribution.  The inescapable fact is that we cannot time our “exit” and so we should also put in place a plan to pass on to the very people for whom we are working hard to build up the wealth!

This workshop aims to help the participants better appreciate the wider scope involved in estate issues and has a hands-on approach in that by end of the workshop, participants will have the basic skills to craft their own plans for them to follow up with the relevant financial professionals.

Course Objectives
At the end of the workshop, participants should be able to:

  • Understand benefits that estate planning can do for their families
  • Identify their own “stop-gap” measures to ensure adequate estate is provided
  • Distinguish between nominations and Wills and the intestacy laws in estate distribution
  • Craft out a simple yet strategic Estate Plan
  • Decide on the contents of their Wills
  • Follow up confidently when consulting their lawyers/professional Will writers/insurance agents on nominations and Wills.

Course Duration
1 Day (8 hours), 9:00am – 5:00pm.

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Course Content
1. Why Estate Planning is Ever So Crucial in Today’s Social Environment
2. The Myths and Excuses for Not Planning and Doing Wills
3. What Happens To Your Estate When You Pass On
4. The 4-Ds of How To Plan Your Estate To Be Distributed: Dollar value, Debt settlement, Distribution.
5. Estimating Your Net Estate: A computational exercise
6. Deciding on the contents of your Will

An actual Will instruction-taking exercise involving determining executor, trustee and guardian.

Training Methodology
The delivery of the workshop will involve an appropriate mix of short lectures, video clips, case studies as well as group sharing. To enable participants take their first step to applying what they are learning, participants will be required to do on-spot computational and planning exercises and draft their own Will by end of the workshop.

A basic estate planning spreadsheet software will be given to each participant.