The Family EstateCare™ Series, Level 100 Courses


FEC 101: Understanding Basic Estate Planning

FEC 102: Basic Estate Planning Plus – Life Insurance Trusts
FEC 103: Medi-Cal: The 3 Lies and 8 Mistakes
FEC 104: The Alphabet Soup of Advanced Estate Planning
FEC 105: Trustee Training – Rights and Responsibilities
FEC 106: Attracting and Working with Affluent Families


Course Descriptions

FEC 101: Understanding Basic Estate Planning

Why plan? What is an estate? Why do most estate plans fail? What makes a good estate plan? It is as easy as 1, 2, 3! This course covers the basics of estate planning, including titling, tax basis rules, the disadvantages of joint tenancy and the pros and cons of gifting. Beneficiary designations are discussed and estate taxes are explained as are conservatorships, probate, powers of attorney and planning for minors. The A B C’s of basic living trust planning are explored. The importance and the power of collaborative planning as well as opportunities for financial planners and accountants in estate planning is a central theme.

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FEC 102: Basic Estate Planning Plus — Life Insurance Trusts

Following a short overview of the basics of estate planning, from title considerations to beneficiary designations and “ABC” trusts, this course provides a detailed review of Irrevocable Life Insurance Trusts and how they really work. ILITs are an incredibly powerful and often under-funded and under-used estate planning tool allowing your clients to pass their estates to their loved ones intact by avoiding or substantially lessening the impact of the estate tax while providing goal fulfillment and protection from creditors.

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FEC 103: Medi-Cal: The 3 Lies and 8 Mistakes

Medi-Cal is a confusing area of the law and financial planning that is constantly changing. What happens when a loved one must have long term health care (in a nursing home, convalescent hospital or home care)? How does a family provide for the long-term care of a loved one, while assuring the financial security of those still living at home? Is the family protected?

This course surveys the current rules and planning techniques. It answers these questions as well as many others: What is Medi-Cal? What are the rules? Can insurance or annuity planning help? Is Medi-Cal different from Medicare? Is Medi-Cal planning part of estate planning? Is this type of planning ethical? What are the rules for qualifying? Can the state or federal government take the home? What about claims against the family to recover expenses on behalf of a loved one?

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FEC 104: The Alphabet Soup of Advanced Estate Planning

A summary of basic and basic plus estate planning followed by a survey of advanced estate planning techniques and why financial, tax, and accounting professionals, as well as other professional planners, need to be familiar with these techniques. This course deals with how to minimize the wealth (estate) tax through charitable giving and discounting techniques. Learn the basics of the alphabet soup, e.g., Charitable Remainder Trusts (CRT), Charitable Lead Trusts (CLT), Qualified Personal Residence Trusts (QPRT), Grantor Retained Annuity Trusts (GRAT), Family Limited Partnerships (FLP), and Liquid Asset Protection Trusts (LAPT). Gain knowledge of how life insurance can play an important role in these advanced plans.

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FEC 105: Trustee Training — Rights and Responsibilities

A client or a client’s family member has just passed away and now the successor trustee must serve as trustee of the living trust. Are you prepared to handle the myriad of questions that successor trustees will have regarding their rights and responsibilities? Are you aware that tax and investment advice may be different in these situations? To help avoid personal liability, a trustee must seek professional financial, accounting and legal advice. This course is an overview of the legal and procedural requirements of trust administration to assist trustees and their advisors to properly discharge their duties. It addresses the need for legal, tax, accounting, and complete investment planning in trust administration.

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FEC 106: Attracting and Working with Affluent Families

What is affluent? Are affluent clients unlike other clients? Should the process for dealing with an affluent client be different? After a short review of previous courses, this course discusses those differences. In addition: The critical importance of a collaborative team and a collaborative process, why affluent clients have a unique concept of money, the notion of “it is not what it’s about”, third party credibility, “shining the light”; and the value of proper referrals and referral protocols. As a collaborative team member, you are always prepared to help.

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