Estate planning involves much more than simply creating a will. A will is only one method of transferring a person's assets, and may even be an ineffective one depending on the client's previous actions-for example, in titling property and designating beneficiaries, the person may have made the will ineffective in transferring these assets. Both tax and nontax considerations are important and should be considered in designing the client's estate plan in the context of both lifetime planning and planning for the conservation and distribution of the client's estate at death.

About the Author

David Mannaioni, CFP®, MPASSM is a professor at the College for Financial Planning. Utilizing his 30+ years of experience in the financial services industry, David also maintains a financial planning practice where he works with his clients in all areas of financial planning. In addition to his certifications, David holds life and health insurance licenses in several states, as well as the Series 6, Series 7, and Series 63 registrations with FINRA. You can contact David at david.mannaioni@cffp.edu.

Complexity Level: Overview