Retirement and Estate Planning

Course Description

This course covers the issues that affect financial needs at retirement-inflation and taxation. Various vehicles for savings for retirement are examined including both private and employer-sponsored. The course also examines ways to withdraw savings at retirement. Estate planning looks at ways to ensure that assets are distributed both in accordance with one's wishes and for the maximum benefit of one's heirs.

Course Hours per week: 4hrs .

Learning Outcomes

Upon completing the requirements for this course, the student will be able to:

  1. Discuss various ways of approaching retirement savings.

  2. Understand the issues in estate planning including at death.

  3. Prepare a detailed retirement plan for a client.

Successful completion of the course will require that the student has the requisite technical knowledge to meet the objectives stated above and can apply this knowledge to client situations.

Going for a Run

Course outline

1. The Retirement Planning Process

  • Estimate the amount of income needed during retirement

  • Income replacement and expense methods

  • Estimate the capital needs for retirement

3. The Estate Planning Process

  • Definition of estate planning

  • Role of an estate planner

  • Techniques for preserving wealth

  • Role of life insurance in estate planning

2. Financial Instruments To Reach Retirement Goal

  • Evaluate the current resources

  • EPF savings and Non-EPF savings

  • Formulate strategies for filling retirement income deficit

  • Evaluate other retirement resources

  • Private Retirement Scheme

4. Wills and Trust

  • Types of trusts

  • Taxation of trusts

  • Wills

  • Syariah Law in relation to estate planning

Elderly Woman at Gym

Course Materials

The primary learning materials for this course are articles, lectures, and videos.

Assessment

Assignments and coursework

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