ESTATE PLANNING

Estate planning ensures that wealth transfers according to your wishes while minimizing taxes and legal
complications. These topics cover essential documents and strategies.

TOPIC 133
Wills: The Foundation of Every Estate Plan
A will is the cornerstone of any estate plan — the legal document that directs how assets are distributed, names
guardians for minor children, and designates who will carry out your final wishes. This topic emphasizes that
creating a will is not merely a legal matter but an act of faithful stewardship and love for those left behind.

What a will does and does not cover
Types of wills: simple, pour-over, holographic
Choosing an executor and their responsibilities
Guardianship provisions for minor children
Dying intestate: what happens without a will
Updating your will after life events
Biblical stewardship and the obligation to plan

TOPIC 134
Revocable Living Trusts: Avoiding Probate
A revocable living trust is a powerful estate planning tool that allows assets to transfer to heirs at death without the
delay, cost, and public exposure of probate — while also providing a seamless mechanism for managing assets if
the grantor becomes incapacitated. This topic explains when a trust is the right choice and how to establish one.

What is a revocable living trust and how it works
Revocable trust vs. will: key differences
The probate avoidance advantage
Funding a trust: retitling assets
Incapacity planning with a revocable trust
Trustee and successor trustee selection
Costs of creating and maintaining a trust

TOPIC 135
Irrevocable Trusts: Advanced Estate Planning Tools
Irrevocable trusts sacrifice flexibility in exchange for powerful benefits including estate tax reduction, asset
protection from creditors, and Medicaid planning — making them essential tools for high-net-worth individuals and
those with complex family situations. This topic provides an accessible overview of the major irrevocable trust
structures.

How irrevocable trusts differ from revocable trusts
Irrevocable Life Insurance Trust (ILIT)
Asset protection trusts
Medicaid planning trusts
Grantor Retained Annuity Trust (GRAT)
Qualified Personal Residence Trust (QPRT)
Trade-offs: asset protection vs. loss of control

TOPIC 136
Power of Attorney: Planning for Incapacity
A durable power of attorney authorizes a trusted person to manage financial affairs if you become incapacitated —
one of the most critical documents in any estate plan and one that is entirely distinct from a will. This topic explains
the types, scope, and safeguards of powers of attorney to prevent financial exploitation and family conflict.

Durable power of attorney for finances
Springing vs. immediate power of attorney
Scope of agent authority
Healthcare power of attorney vs. financial power of attorney
Choosing a trustworthy agent
Avoiding power of attorney abuse
When a POA is insufficient: guardianship and conservatorship

TOPIC 137
Healthcare Directives: Your Medical Wishes in Writing
Healthcare directives — including living wills and healthcare proxies — ensure your medical wishes are honored
when you can no longer speak for yourself, relieving family members of agonizing decisions during crisis moments.
This topic integrates legal, medical, and faith-based perspectives on end-of-life planning.

Living will: stating your end-of-life medical preferences
Healthcare proxy / medical power of attorney
POLST and DNR orders
Communicating healthcare wishes to family
Faith-based considerations in healthcare directives
Dementia and cognitive decline: planning ahead
Reviewing and updating healthcare directives over time

TOPIC 138
Beneficiary Designations: The Often-Overlooked Estate Tool
Beneficiary designations on retirement accounts, life insurance, and annuities transfer assets directly to named
recipients at death — completely bypassing the will — making them one of the most powerful and most frequently
neglected elements of an estate plan. This topic highlights the critical importance of reviewing and coordinating all
beneficiary designations.

How beneficiary designations override a will
Primary vs. contingent beneficiaries
Common beneficiary designation mistakes
Per stirpes vs. per capita designations
Trusts as beneficiaries: when and how
Keeping beneficiary designations current after life events
Coordinating beneficiary designations with your overall estate plan

TOPIC 139
Probate: Understanding the Process and How to Avoid It
Probate is the court-supervised process of validating a will and distributing a deceased person’s estate — a
process that can take months or years and consume significant assets in legal and court fees. This topic
demystifies probate and presents practical strategies to help families transfer wealth more efficiently.

What is probate and when it applies
The probate process step by step
Time and cost of probate
Assets that pass outside probate
Probate avoidance strategies (trusts, joint ownership, TOD/POD accounts)
Small estate affidavits and simplified procedures
State-specific probate considerations

TOPIC 140
Estate Tax: Planning for the Federal and State Levy
While most estates do not currently owe federal estate tax due to the high exemption threshold, the scheduled
2026 sunset of the Tax Cuts and Jobs Act provisions could expose many more estates to significant liability —
making proactive planning urgent. This topic prepares clients to understand their potential exposure and available
planning strategies.

Federal estate tax exemption and rates (2026 sunset considerations)
State estate and inheritance taxes
Portability of the estate tax exemption between spouses
Strategies to reduce taxable estate
Annual gifting to reduce estate size
Irrevocable trusts as estate tax tools
Estate tax planning for high-net-worth ministry families

TOPIC 141
Gift Tax: Transferring Wealth During Your Lifetime
The gift tax system governs lifetime wealth transfers and works in tandem with the estate tax to limit tax-free
transfers — but with the right knowledge, significant assets can be transferred to the next generation tax-free
through strategic annual and lifetime gifting. This topic teaches the rules and strategies for effective lifetime giving.

Annual gift tax exclusion: amount and rules
Lifetime gift tax exemption and its coordination with estate tax
Gifts that are not subject to gift tax (medical, tuition)
Superfunding a 529 plan with five-year election
Gift splitting between spouses
Documenting gifts and filing Form 709
Strategic gifting as an estate reduction tool

TOPIC 142
Charitable Remainder Trusts: Give, Get Income, and Leave a Legacy
A Charitable Remainder Trust allows donors to contribute assets, receive an income stream for life or a term of
years, claim a partial charitable deduction, and ultimately benefit their favorite charity with the remainder — an
elegant tool for those who want to give generously while maintaining income. This topic explores the CRT as both a
financial and legacy planning instrument.

How a charitable remainder trust (CRT) works
CRT unitrust vs. CRT annuity trust
Income stream to the grantor and tax benefits
Charitable deduction at the time of funding
Appreciated asset contribution strategy
Remainder interest to the charity
CRT for ministry and church legacy planning

TOPIC 143
Special Needs Trusts: Protecting Vulnerable Family Members
A Special Needs Trust allows families to leave assets for a disabled loved one without disqualifying them from
essential government benefits like SSI and Medicaid — providing supplemental support that enhances quality of life
without jeopardizing the safety net. This topic guides parents and grandparents of disabled individuals through this
essential planning strategy.

What is a special needs trust (SNT)
First-party vs. third-party special needs trusts
Preserving government benefit eligibility (SSI, Medicaid)
What SNT funds can and cannot be used for
Selecting a trustee for a special needs trust
Pooled special needs trusts as an alternative
Faith communities and disability ministry: complementary support

TOPIC 144
Estate Planning for Pastors and Ministry Leaders
Pastors and ministry leaders face distinctive estate planning challenges — including housing arrangements tied to
employment, below-market salaries, denominational retirement plans, and a calling to model faithful stewardship
until the very end. This topic addresses the intersection of ministry life and estate planning with both practical
guidance and spiritual perspective.