Reference no: EM132776747

MAA700 Estate Planning and Risk Management - Deakin University

Assessment 3 - Limited Statement of Advice

Learning Outcome 1: Illustrate an in-depth understanding of the creation of wills, powers of attorneys, binding health directives and estate administration processes
Learning Outcome 2: Analyse and develop estate planning strategies that incorporate the testamentary trust framework, promotes asset protection and maximises the tax status of beneficiaries
Learning Outcome 3: Propose strategies within the superannuation environment and the taxation of death benefits by utilising extensive professional knowledge
Learning Outcome 4: Describe and evaluate the insurance and risk management function including the regulatory framework and environment and the basic components of an insurance contract.
Learning Outcome 5: Examine and analyse different types of personal and general insurance policies and products to satisfy the needs of a client.
Learning Outcome 6: Construct and present appropriate insurance and risk management strategies and solutions to suit the needs of a client

Description
Barry and Bonny Campbell are a married couple aged in their 40's and have come to you for some financial advice around wealth succession and other risks that they face. They are concerned about accumulating sufficient wealth for their retirement, while at the same time living a relatively comfortable life and providing the highest possible education for their three children Barry Junior

Required: (3,000 words in total excluding any appendices or references)

After analysing their personal circumstances, prepare a limited Statement of Advice (SOA) to Barry and Bonny. Ensure that you summarise their current estate planning and insurance positions, would recommended to cover their risks and the amount of cover you would put in place. It is expected that you will explain the various policy features as well as typical exclusions likely to be experienced and also discuss the merits for and against holding their various personal insurance policies within their superannuation funds including the tax implications of the cost of the premiums. You are not required to recommend specific policies/products. Include in your limited SOA should contain a Covering Letter addressed to the couple detailing the purpose and general content of the report and a Table of Contents.

Attachment:- Estate Planning and Risk Management.rar