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ACCT 2285 Wealth Creation and Estate Planning

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Wealth creation is the process of investing in various asset classes where the investment helps meet critical needs. These investments must also be independent and can provide a stable source of income to help people realize their desires. Estate planning is both an art and a science. This requires the right balance and proper attention to ensure a strategic approach to all important human problems. Estate planning involves the creation, preservation and transfer of personal wealth. This process can ensure the stability and safety of the wealth accumulated by a person throughout his life and beyond.

After successfully studying this topic, you will be able to:

1) Use wealth creation theory to identify the attributes required to accumulate wealth and determine the best investment diversification strategy for clients.

2) Explain the benefits of adapting effectively to customer needs and suggest the most appropriate strategy to meet customer needs.

3) When drawing up a financial plan, evaluate the impact of pensions, taxes, trust work and other factors related to estate planning.

4) Assess the risk profile needed by people seeking to accumulate large amounts of wealth and how this relates to long-term investment goals.

5) Use a variety of methods to evaluate your enterprise and effectively address the challenges of a successful enterprise transition to a successor enterprise.

6) Determine how to tax the assets of deceased holdings and develop strategies to minimize the impact of taxes on those assets.

7) Explain the importance of drafting a will, its implications for asset protection, and the role of the executor in following specific instructions.

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