Foundations of Estate Planning and Wealth Transfer

Estate planning is the practice of deciding now what happens later. Done thoughtfully, it can protect a spouse, support children fairly, fund causes that matter, and prevent the family conflicts that often follow a death. This foundational course explains the building blocks. By the end of this course you will be able to describe the major estate planning tools, distinguish what each does and does not accomplish, understand how taxes and probate interact with the plan, and recognize the choices that most shape outcomes for the family. What you will learn: - The major documents: last will and testament, revocable living trust, powers of attorney, and advance directives - How beneficiary designations and joint ownership often control more than the will - The role of irrevocable trusts in specific situations including special needs, asset protection, and tax planning - The basics of federal estate tax thresholds, state estate and inheritance taxes, and step-up in basis - How probate works and where avoiding probate makes a real difference - How charitable giving fits into estate planning during life and at death - Common pitfalls: outdated documents, unfunded trusts, beneficiary mismatches, never communicating intent to heirs The course uses readings, document anatomy walkthroughs, and case examples. Each module ends with reflection prompts that you apply to your own situation. This course is written for adults in mid-life or later who want to understand estate planning well enough to make informed choices, with or without an attorney. By the end you will replace unfamiliar terminology with a clear understanding of the tools and trade-offs, and you will know what a sound basic plan looks like for your circumstances.