Understand objectives and benefits of estate planning
Know key components of an comprehensive estate plan
Learn implications of domicile, jurisdiction and taxation
Identify assets and potential leakages of an estate
Address succession, disputes, multi-generation and special needs planning
Adopt different laws of distribution for probate/non probate assets
Know the application of different tools and structures
Develop comprehensive estate plan for efficient and effective distribution
Who Should Attend
Applicants should have completed a IBF Financial Planning (IBF Level 1) Standards Programme or show proof of competency at level 1; or
Professionals with at least 3 years relevant experience as financial planners, insurance advisors, personal financial consultants and relationship managers
Professionals working in legal, accounting, tax, trust, custodian, family office services, etc.
Individuals keen to learn how to manage their personal or family wealth
Introduction to Estate Planning
Objectives, assumptions and requirements of estate planning
Major components of estate planning – financial, tax, social and legal
Importance of estate planning – case studies on pitfalls
Understanding complexity and concept of domicile
Financial & Tax Issues, Leakages & Other Pitfalls
Classes of assets – valuation and cash flow considerations
Identify short and long term financial needs
Potential conflicts between investment, retirement and estate planning
Leakages from an estate – taxes, debts and expenses
Types of taxes and impact on estate planning
Pitfalls arising from financial and tax issues
Social Aspects in Estate Planning
Estate planning vs. legacy planning
People and organisation considerations in wealth distribution
marital and family status
cross cultural and generation
relationship with beneficiaries
financial, legal and mental capacity
special needs and philanthropy
Pitfalls arising from social issues
Role of insurance in estate planning
Legal Structures, Tools & Implication
Law of distribution – Law of the Land, General and Special Laws
Asset ownership and method of distribution
Basic estate planning tools – wills, nominations, survivorship, trust, etc.
Key representatives, roles and responsibilities
Introduction to trusts
Planning for Business Owners
Issues and risk faced by business owners
Planning tools for business owners – selective executive retention plan, keyman insurance, buy-sell funding, guarantor insurance
Developing Efficient & Effective Estate Plan
Identify estate planning goals
Analyse clients needs
Develop a comprehensive estate plan with the appropriate strategy, tools, documentation requirements for execution
Assessment & Certification
Participants will be assessed through written assessment and case assignment at the end of the course.
Participants who successfully complete the course and pass all the assessments will be issued the SMU Certificate: Personal Estate Planning (IBF Level 2).
Type of Course
Finance, Financial IT and Risk Management
Fees & Funding
SGD $3,200 (excl. GST)
SGD $960 (net of 70% IBF-STS funding, excl. GST)
IBF-STS Funding of 70% is available to eligible institutions and qualified individuals subject to a cap of S$7,000 per participant per programme. Singapore Citizens aged 40 years old and above are eligible for 90% co-funding of direct training costs, subject to the existing grant caps. For terms and conditions, please click here: https://www.ibf.org.sg/programmes/Pages/IBF-STS.aspx
Singapore Citizens aged 25 and above, and self-funding may use their SkillsFuture Credit (up to S$500) to defray part of the course fee. Please click User Guide on how to submit your claim. SkillsFuture Credit claims may be submitted by logging in via MySkillsFuture.sg.
Union Training Assistance Program (UTAP)
NTUC members are eligible for UTAP funding at 50% of the unfunded course fee capped at $250 every year. For application, terms and conditions, please click here.
Participant should possess tertiary qualifications or relevant working experience in the area.
Please click here for the programme policies, terms and conditions.
Bernard Lim is a wealth planning practitioner with more than 25 years of experience, specialising in estate and legacy planning for high net worth customers and business owners. Beside corporate training to major banks and financial institutions such as UOB, HSBC, Standard Chartered, Prudential, AXA, NTUC, Manulife, Bernard also conducts financial counselling programmes for the civil service sector. He is also engaged in community services outreach to promote volunteerism in financial education to the community at large.
Bernard is a Certified Financial Planner® (CFP®), Certified Financial Educator® (CFEd®) and also a Fellow of the Society of Will Writers & Estate Planning Practitioners (UK).