Overview
This unit covers the role of the financial advisor in estate and succession planning. You will examine the legal and taxation issues related to estate and succession planning. You will apply the skills required for managing the client relationship and construct an estate and succession plan for a client situation. In this unit you will have the opportunity to integrate the broad range of knowledge and skills required of a practicing Financial Planner into a practice focused project based on a practical client situation.
Details
Pre-requisites or Co-requisites
Pre-requisites: FINC19016 Retirement and Superannuation and FINC19019 Insurance Planning
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 2 - 2025
Attendance Requirements
All on-campus students are expected to attend scheduled classes - in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of 'pass' in order to pass the unit. If any 'pass/fail' tasks are shown in the table above they must also be completed successfully ('pass' grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the 'assessment task' section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University's Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure - Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure - International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback - Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
Feedback, Recommendations and Responses
Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.
Feedback from Feedback given by two Students in the form of MyExperience responses.
Satisfaction scores on 10 and 21 September 2024
As these scores reflect high levels of satisfaction during the term, the metrics in the end of term student evaluations need to be addressed with improvements to unit requirements clarity, usefulness of content, knowledge and skills, and assessment feedback by returning to textbooks.
Feedback from Self- reflection
Usefulness of learning materials needs improving
Prescribed an updated Estate Planning textbook for 2025.
Feedback from Recommendations by CQU Learning Design & innovation team, discussions with Discipline colleagues from the Economics, Finance, Property Disciplines
Low content engagement, especially pre-recorded content video recordings, because they are considered too long by students
"Chunking" video recordings by topic instead of one long pre-recorded content video
- Demonstrate legal, ethical and commercial principles pertinent to estate and succession planning
- Solve estate and succession planning problems using ethical financial planning principles
- Prepare professional estate and succession plans for a variety of client circumstances
- Apply communication techniques for effective client relationship building.
This unit will become part of the Financial Planning suite of units that is accredited by the Financial Planning Education Council using its own standards and the RG146 ASIC standard for Financial Planners. This proposed unit is designed to fit within the overall strategy for accreditation within this regime.
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Practical Assessment - 50% | ||||
| 2 - Take Home Exam - 50% | ||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Communication | ||||
| 2 - Problem Solving | ||||
| 3 - Critical Thinking | ||||
| 4 - Information Literacy | ||||
| 5 - Team Work | ||||
| 6 - Information Technology Competence | ||||
| 7 - Cross Cultural Competence | ||||
| 8 - Ethical practice | ||||
| 9 - Social Innovation | ||||
| 10 - Aboriginal and Torres Strait Islander Cultures | ||||
Alignment of Assessment Tasks to Graduate Attributes
| Assessment Tasks | Graduate Attributes | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
| 1 - Practical Assessment - 50% | ||||||||||
| 2 - Take Home Exam - 50% | ||||||||||
Textbooks
Estate Planning: A Practical Guide for Professionals Helping Australians to Age Well
Edition: 5th (2021)
Authors: Michael Perkins and Robert Monahan
LexisNexis Butterworths Australia
Chatswood DC Chatswood DC , NSW , Australia
ISBN: 9780409352580, 9780409352597
Make a purchase request here or your own sources:
- Estate Planning LexisNexis
- Estate3 Planning Directtextbook
- Estate Planning Practical Professionals Australians Amazon
Make a purchase request here or your own sources:
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
All submissions for this unit must use the referencing style: American Psychological Association 7th Edition (APA 7th edition)
For further information, see the Assessment Tasks.
a.mcinnes@cqu.edu.au
Module/Topic
Introduction to Estate Planning:
- Concepts and Groundwork
- Estate Planning is Consulting Led and Advice Driven
- Delivering the Estate Situation Review
- Estate Administration Plans
Chapter
Refer to the Study Guide in Week 1 for Prescribed and Supplementary Reading
Events and Submissions/Topic
Refer to Week 1 in Moodle for:
- Weekly Study Guide
- Weekly Pre-recordings
- Weekly Overhead Slides
- Week 1 Questions and Applications
- Practical Assessment Estate Plan Instructions
- Live and Recorded Zoom Workshop
- Complete the Weekly Workbook
Module/Topic
Establishing and Managing the Engagement:
- Client Choice
- Client Duty
- Client Responsibility
- Practitioner Responsibility
- Professional risks for Estates Practitioners
- Client/Professional Relationships
- Duty of Care
- Estate Planning to Administration
- Compliance, Management & Operations
- Business Process- Client Engagement
Chapter
Refer to the Study Guide in Week 2 for Prescribed and Supplementary Reading
Events and Submissions/Topic
Refer to Week 2 in Moodle for:
- Weekly Study Guide
- Weekly Pre-recordings
- Weekly Overhead Slides
- Week 2 Questions and Applications
- Practical Assessment Estate Plan
- Live and Recorded Zoom Workshop
- Complete the Weekly Workbook
Module/Topic
Wills, Probate and Succession:
- Preparation, Structure and Importance of a Will
- Formal Requirements of Wills - Adults and Minors
- Witnesses
- Effect of Marriage and Divorce
- Revocation
- Alteration to Wills
- Intestacy
- Children and Succession Law
Chapter
Refer to the Study Guide in Week 3 for Prescribed and Supplementary Reading
Events and Submissions/Topic
Refer to Week 3 in Moodle for:
- Weekly Study Guide
- Weekly Pre-recordings
- Weekly Overhead Slides
- Week 3 Questions and Applications
- Practical Assessment Estate Plan
- Live and Recorded Zoom Workshop
- Complete the Weekly Workbook
Module/Topic
Responding to Changes in Capacity and Cognition:
- Planning for Declining Capacity and Deteriorating Health
- Agents, Fiduciaries, Carers and Representatives
- Evidencing Capacity and Capability
- Powers of Attorney, Guardianship and Advanced Health Directives
- Guardianship - Trends, Issues and Appointment
- Guardianship of Minors
- Guardianship of Adults and Capacity Challenges
- Testamentary capacity and undue influence
Chapter
Refer to the Study Guide in Week 4 for Prescribed and Supplementary Reading
Events and Submissions/Topic
Refer to Week 4 in Moodle for:
- Weekly Study Guide
- Weekly Pre-recordings
- Weekly Overhead Slides
- Week 4 Questions and Applications
- Practical Assessment Estate Plan
- Live and Recorded Zoom Workshop
- Complete the Weekly Workbook
Module/Topic
Taxation of Estates
- Tax obligation of Executors
- Tax Rates for Deceased Estates
- Capital Gains Taxes and Deceased Estates
- Testamentary Discretionary Trusts - operation, benefits and tax treatment
- Taxation of Superannuation Benefits:
- Superannuation - how it fits into EP
- Binding Death Nominations
- Beneficiaries on the death of a member
- Tax dependent vs superannuation dependent
- SMSF and passing on control
Chapter
Refer to the Study Guide in Week 5 for Prescribed and Supplementary Reading
Events and Submissions/Topic
Refer to Week 5 in Moodle for:
- Weekly Study Guide
- Weekly Pre-recordings
- Weekly Overhead Slides
- Week 5 Questions and Applications
- Practical Assessment Estate Plan
- Live and Recorded Zoom Workshop
- Complete the Weekly Workbook
Module/Topic
Vacation and catch-up week
Chapter
Refer to the Study Guide in Weeks 1 to 5 for Prescribed and Supplementary Reading
Events and Submissions/Topic
- Revising Weeks 1 to 5
- Practical Assessment Estate Plan
- Catching up incomplete Modules from Weeks 1 to 5
Module/Topic
Property, Equity and Trusts
- Property ownership and Control
- Property Law
- Equity
- Trusts
Chapter
Refer to the Study Guide in Week 6 for Prescribed and Supplementary Reading
Events and Submissions/Topic
Refer to Week 6 in Moodle for:
- Weekly Study Guide
- Weekly Pre-recordings
- Weekly Overhead Slides
- Week 6 Questions and Applications
- Practical Assessment Estate Plan
- Live and Recorded Zoom Workshop
- Complete the Weekly Workbook
Module/Topic
- Contracts in Estates Practice
- Sources of This Law
- Impacts on Estate Administration
Chapter
Refer to the Study Guide in Week 7 for Prescribed and Supplementary Reading
Events and Submissions/Topic
Refer to Week 7 in Moodle for:
- Weekly Study Guide
- Weekly Pre-recordings
- Weekly Overhead Slides
- Week 7 Questions and Applications
- Practical Assessment Estate Plan
- Live and Recorded Zoom Workshop
- Complete the Weekly Workbook
Module/Topic
Responding to the Family Breakdown:
- Family Breakdown before Death
- Family Breakdown after Death
- Challenging the will
- Eligible persons
- Effect of consent orders, financial arrangements and 'pre-nup' on estates
Chapter
Refer to the Study Guide in Week 8 for Prescribed and Supplementary Reading
Events and Submissions/Topic
Refer to Week 8 in Moodle for:
- Weekly Study Guide
- Weekly Pre-recordings
- Weekly Overhead Slides
- Week 8 Questions and Applications
- Practical Assessment Estate Plan
- Live and Recorded Zoom Workshop
- Complete the Weekly Workbook
Module/Topic
Estate Planning in Action
- What Value is Your Client Expecting
- Setting the Scene
- Common Estate Analysis at Work
- Challenges and Choices for Advisers and Clients
- Synthesizing Estate Planning Solutions
- Documenting Recommendations
Chapter
Refer to the Study Guide in Week 9 for Prescribed and Supplementary Reading
Events and Submissions/Topic
Refer to Week 9 in Moodle for:
- Weekly Study Guide
- Weekly Pre-recordings
- Weekly Overhead Slides
- Week 9 Questions and Applications
- Practical Assessment Estate Plan
- Live and Recorded Zoom Workshop
- Complete the Weekly Workbook
Module/Topic
Getting on with the Work
- You have an Estate Administration Plan
Chapter
Refer to the Study Guide in Week 10 for Prescribed and Supplementary Reading
Events and Submissions/Topic
Refer to Week 10 in Moodle for:
- Weekly Study Guide
- Weekly Pre-recordings
- Weekly Overhead Slides
- Week 10 Questions and Applications
- Practical Assessment Estate Plan Submission
- Live and Recorded Zoom Workshop
- Complete the Weekly Workbook
- Complete Student Evaluation Survey
Module/Topic
Other contemporary issues - e.g. Philanthropy, Inheritances, and Aged Care
- Philanthropy issues like Charitable Trusts, Ancillary funds and small donations in wills
- Inheritances, and their implications for wills, notifying beneficiaries and preservation of assets
- Aged Care funding, types of arrangements and instructions
Chapter
Refer to the Study Guide in Week 11 for Prescribed and Supplementary Reading
Events and Submissions/Topic
Refer to Week 11 in Moodle for:
- Weekly Study Guide
- Weekly Pre-recordings
- Weekly Overhead Slides
- Week 11 Questions and Applications
- Live and Recorded Zoom Workshop
- Complete the Weekly Workbook
- Complete Student Evaluation Survey
Estate Plan Due: Week 11 Monday (29 Sept 2025) 11:45 pm AEST
Module/Topic
Exam Review
- Structure
- Preparation
- Materials
- Complete the Student Evaluation Survey
Chapter
Refer to the Study Guide in Week 12 for Prescribed and Supplementary Reading
Events and Submissions/Topic
Refer to Week 12 in Moodle for:
- Study Guide
- Exam Preparation
- Week 1-12 Questions and Applications
- Live and Recorded Zoom Workshops
- Complete the Exam Exemplars to practice for the Exams
- Complete Student Evaluation Survey
- Exam Review
Module/Topic
Exams
Chapter
Refer to Assessment Section on Moodle for Exam Advice
Events and Submissions/Topic
Refer to Week 12 in Moodle for:
- Write the Exam
- Complete Student Evaluation Survey if you have not done so yet
EXAMINATION Due: Review/Exam Week Thursday (16 Oct 2025) 1:00 pm AEST
Module/Topic
All the best with your future.
Chapter
Events and Submissions/Topic
Unit Coordinator End of Term Report
- Available once finalized by all the relevant Committees and after Certification of Grades
Please note there is a new edition of the Prescribed Textbook with a new title and authors:
- Estate Planning: A Practical Guide, 6th Edition, by Michael Perkins, Robert Monahan, Jane A Lonie and Julia Monahan. ISBN 9780409360592 (pbk) OR 97804093606089 (ebk)
Both the previous 5th edition textbook listed in the prescribed reading section of this unit profile and the new 6th edition are suitable prescribed textbooks to complete this unit.
1 Practical Assessment
These are group assessments based on a client case study. You may form groups of 1, 2 or 3 members. No more than 3 group members.
The teaching approach of this unit is experiential simulated work-integrated learning using case studies
Experiential Learning was developed by David Kolb, where students learn through experience, reflection, conceptualization, and experimentation.
This theory emphasizes learning through experience, reflecting on those experiences, so the student can apply a simulation of the real world and what is learned to their future role as financial adviser.
Using a client case study the student is expected to complete an estate plan template for a couple.
This assessment allows the student to engage with a real-world detailed case study, and help the client achieve their estate planning goals using different estate planning strategies the client can discuss with their accountant and lawyer. Not only do the student learn new knowledge but learn to apply the newly acquired knowledge to the case study.
Combining the case study with a simulated work-integrated approach gives students hands-on experience of what it is like to work in a professional practical setting, dealing with a simulated real-world task of completing a financial plan through experimenting with strategies and solutions based on their weekly learning.
Detailed submission instructions, the client case study, estate plan templates and the marking criteria are provided under the <ASSESSMENT> tile in Moodle.
The assessment is worth 50%
To achieve the following unit learning outcomes:
- Demonstrate legal, ethical and commercial principles pertinent to estate and succession planning
- Solve estate and succession planning problems using ethical financial planning principles
- Prepare professional estate and succession plans for a variety of client circumstances
- Apply communication techniques for effective client relationship building.
Assessment Task
- Read and Analyze the Case Study: Thoroughly review and analyze the provided case study to gain a comprehensive understanding of the clients' financial situation, family dynamics, and specific needs.
- Prepare a Comprehensive Estate Plan: Develop a detailed estate plan tailored to the clients' requirements, involving collaboration with relevant professionals such as accountants and estate lawyers. Ensure the plan addresses all pertinent aspects of estate planning.
- Scope Clients' Estate Planning Needs and Responsibilities: Identify and assess the estate planning needs, responsibilities, and capacity of the clients, considering factors such as assets, liabilities, family structure, and future goals.
- Identify Clients and Accountable Parties: Clearly define the clients and stakeholders involved in the estate planning process, including family members, beneficiaries, and legal representatives. Establish lines of accountability and communication.
- Assess Clients' Wealth: Conduct a comprehensive evaluation of the clients' wealth, encompassing all assets, investments, properties, and liabilities. Determine the overall financial standing and potential areas for optimization.
- Understand Constraints on Estate Management and Succession: Recognize and address any constraints or limitations affecting the management and succession of the clients' estate, including legal, tax, and regulatory considerations.
- Consider Compliance Regime and Adviser Accountability: Ensure compliance with relevant laws, regulations, and industry standards throughout the estate planning process. Maintain accountability and transparency in advising the clients, adhering to ethical guidelines and professional responsibilities.
- Document Recommendations: Document all recommendations and proposed strategies in a clear and organized manner, outlining the rationale behind each decision and considering potential risks and contingencies.
- Articulate Assumptions and Objectives: Clearly articulate the assumptions made during the estate planning process, as well as the objectives and goals driving the proposed strategies. Align recommendations with the clients' stated preferences and long-term aspirations.
- Explain Observations: Provide detailed explanations of key observations, findings, and insights gleaned from the case study analysis and estate planning process. Communicate effectively with the clients and relevant professionals, ensuring clarity and understanding.
By following this task list, you can ensure a comprehensive and well-executed estate planning process that meets the clients' needs and objectives while adhering to professional standards and regulatory requirements.
Week 11 Monday (29 Sept 2025) 11:45 pm AEST
Submission via the
Review/Exam Week Monday (13 Oct 2025)
Feedback will be provided via Moodle in the
A comprehensive marking and feedback rubric covering grading criteria and allocation of marks to meet the learning outcomes is available in the Moodle <Assessment> tile.
Feedback is provided during the live and recorded Weekly Zoom Workshops, Moodle Q&A Forums, emails and the grading rubrics.
- Demonstrate legal, ethical and commercial principles pertinent to estate and succession planning
- Solve estate and succession planning problems using ethical financial planning principles
- Prepare professional estate and succession plans for a variety of client circumstances
- Apply communication techniques for effective client relationship building.
- Communication
- Problem Solving
- Critical Thinking
- Information Literacy
- Team Work
- Information Technology Competence
- Cross Cultural Competence
- Ethical practice
2 Take Home Exam
This is an individual assessment. Group submissions are not permitted.
To achieve the following unit learning outcomes:
- Demonstrate legal, ethical and commercial principles pertinent to estate and succession planning
- Solve estate and succession planning problems using ethical financial planning principles
- Apply communication techniques for effective client relationship building.
Assessment Task
- This is a non-invigilated open book online timed exam of 3 hours, including downloading, uploading, and submission time.
- Late submissions will not be marked.
- As this is an individual assessment, collaboration with other students will result in a reportable academic integrity contravention of all students involved. This may result in a failure result for this assessment. Please note that your paper will be submitted through Turnitin and related GenAI detection applications.
- Using GenAI and LLM is permitted. However, students MUST disclose all use of this resource.
- There is a minimum exam grade of 50% to pass the unit.
- You will be typing your answers in the examination template Microsoft-Word document provided.
- If you encounter problems submitting your paper to Moodle, email it to your unit coordinator on the due date and by the due time.
Review/Exam Week Thursday (16 Oct 2025) 1:00 pm AEST
Download the exam from Moodle
Exam Week Thursday (23 Oct 2025)
Grades will be provided via Moodle in the
Non-invigilated online open book assessment grading as per the Take Home Exam Advice to meet the learning outcomes.
For your preparation refer to the:
- Exam Advice from Week 10
- Attend and participate in the Week 10 live online Zoom Workshop or watch the recording afterwards.
- Demonstrate legal, ethical and commercial principles pertinent to estate and succession planning
- Solve estate and succession planning problems using ethical financial planning principles
- Communication
- Problem Solving
- Critical Thinking
- Information Literacy
- Information Technology Competence
- Cross Cultural Competence
- Ethical practice
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
