PRINCIPLES OF RETIREMENT AND ESTATE PLANNING

FIN3PRE

2019

Credit points: 15

Subject outline

In this subject you will receive an introduction to superannuation and retirement planning with a focus on major trends and features of the industry, the framework in which the industry operates and an examination of the role of superannuation and retirement planning within the financial planning process. You will also examine the estate planning discipline and the important role it plays in the financial planning process. You will learn to estimate the future financial needs of individuals in retirement, based on stated goals, and developing appropriate knowledge and skills required to devise optimal strategies for clients in both the accumulation and retirement phases of life. Various types of retirement plans will be evaluated, including superannuation funds, pensions, annuities and other insurance based products. In the area of estate planning, you will study the fundamental principles of estate planning, the interaction between estate and retirement planning and the application of estate planning to solve the needs of clients.

SchoolLa Trobe Business School

Credit points15

Subject Co-ordinatorMichael Li

Available to Study Abroad StudentsYes

Subject year levelYear Level 3 - UG

Exchange StudentsYes

Subject particulars

Subject rules

Prerequisites FIN2IFP OR FIN2FPL

Co-requisitesN/A

Incompatible subjects FIN3REP

Equivalent subjects FIN3REP

Special conditionsN/A

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsAustralian Superannuation Handbook - latest editionPrescribedJones, S.THOMSON REUTERS

Graduate capabilities & intended learning outcomes

01. Develop an understanding of the basic features of Australia's superannuation and retirement incomes policy.

Activities:
Assignment (case study) that develops student's skills, knowledge and understanding
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour)

02. Develop an understanding of the importance of the legal and regulatory framework that superannuation operates under and the roles of the major regulators.

Activities:
Lectures and tutorial discussions, Mid-semester test
Related graduate capabilities and elements:
Personal and Professional Skills (Autonomy and independence,Ethical behaviour)

03. Analyse and critically evaluate a comprehensive set of client circumstances in order to identify the superannuation, retirement and estate planning needs and goals of a client.

Activities:
Classroom activities and discussion, Analytical case study
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Quantitative Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour)

04. Describe and evaluate the application of superannuation and retirement products, including those provided through the Social Security system.

Activities:
Lectures and classroom teaching and discussion
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

05. Research, evaluate and apply a range of superannuation, retirement and estate planning strategies appropriate to the needs and objectives of a client in an ethical and professional manner.

Activities:
Classroom activities and discussion, Analytical case study
Related graduate capabilities and elements:
Literacies and Communication Skills (Writing,Quantitative Literacy)
Literacies and Communication Skills (Writing,Quantitative Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour)

06. Understand the key features of the estate planning area and the important role that estate planning plays in the financial planning process.

Activities:
Lectures and classroom teaching and discussion
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

07. Evaluate the importance and legal framework of trusts (including testamentary trusts), asset protection, and powers of attorney strategies in the process of estate planning.

Activities:
Lectures and classroom teaching and discussion
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Autonomy and independence,Ethical behaviour)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

08. Develop industry standard skills in report writing, financial modelling and the presentation of information to clients.

Activities:
Analytical case study, Tutorial problems
Related graduate capabilities and elements:
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)

Subject options

Select to view your study options…

Start date between: and    Key dates

Melbourne, 2019, Semester 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorMichael Li

Class requirements

Lecture Week: 10 - 22
One 2.0 hours lecture per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.

Tutorial Week: 10 - 22
One 1.0 hours tutorial per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
Individual Case Study (1500 words)This assessment will report on the Graduate Capabilities of Critical Thinking and Inquiry/Research.30 03, 04, 05, 06, 08
1-hour Mid-semester Examination (Broadly equivalent to 1000 words)20 01, 02, 06, 07
2-hour Final Examination (Broadly equivalent to 2500 words)Hurdle requirement: Students must achieve at least 40% in the final examination. This assessment will report on the Graduate Capabilities of Quantitative literacy and Discipline Specific knowledge and skills. (Broadly equivalent to 2000 words)50 01, 02, 06, 07