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CERTIFIED FINANCIAL PLANNER CERTIFICATION PROFESSIONAL EDUCATION PROGRAM Estate Planning

CERTIFIED FINANCIAL PLANNER CERTIFICATION PROFESSIONAL EDUCATION PROGRAM Estate Planning. Session 15 Incompetency Planning. Session Details. Incompetency Planning. Planning Techniques for a Non-Minor’s Financial Affairs Joint convenience checking account Durable power of attorney

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CERTIFIED FINANCIAL PLANNER CERTIFICATION PROFESSIONAL EDUCATION PROGRAM Estate Planning

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  1. CERTIFIED FINANCIAL PLANNER CERTIFICATION PROFESSIONAL EDUCATION PROGRAMEstate Planning Session 15 Incompetency Planning

  2. Session Details

  3. Incompetency Planning Planning Techniques for a Non-Minor’s Financial Affairs • Joint convenience checking account • Durable power of attorney • Funded revocable living trust • Contingent (standby) revocable trust plus a springing durable power of attorney • Support/supplemental/special needs trust

  4. Incompetency Planning • Joint convenience checking account _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________

  5. Incompetency Planning • Durable power of attorney (DPOA) _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________

  6. Incompetency Planning • Funded revocable living trust _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________

  7. Incompetency Planning • Contingent (standby) revocable trust plus a springing durable power of attorney _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________

  8. Incompetency Planning • Support/supplemental/special needs trust _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________

  9. Incompetency Planning Planning for Medical Decisions • Living will • Do not resuscitate (DNR) orders • Appointing another person: durable power of attorney for health care (DPOAHC)

  10. Incompetency Planning • Living will _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________

  11. Incompetency Planning • Do not resuscitate (DNR) orders _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________

  12. Incompetency Planning • Appointing another person: durable power of attorney for health care (DPOAHC) _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________ _____________________________________

  13. Question 1 Which one of the following statements regarding a conservatorship is not true? • The conservator is subject to the jurisdiction of a court. • The conservator has authority to decide where the ward will live. • The conservator may have to post a bond. • The conservator will likely have to file reports with a court.

  14. Question 2 All of the following are parties that may be involved in a court-ordered guardianship except • a ward or protected person. • a guardian or conservator. • a trustee. • the state.

  15. Question 3 All of the following are techniques commonly used to preplan for management of a non-minor’s assets except • a funded revocable living trust. • a living will. • a durable power of attorney.

  16. Question 4 Living wills are usually applicable only when the declarant is in a terminal or similar condition. True False

  17. Video • Play Video • Hercules Power of Attorney • 1:05 minutes • Play video from Video Layout Text chat or other questions

  18. CERTIFIED FINANCIAL PLANNER CERTIFICATION PROFESSIONAL EDUCATION PROGRAMEstate Planning Session 15End of Slides

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