79036 Retirement and Estate Planning

Description

This subject introduces students to the law relating to retirement and estate planning in Australia. Students learn about the importance of estate planning for business and family structures. Students are introduced to key areas of retirement planning, including superannuation, employment termination payments and financial services regulation. This subject brings together the two areas of retirement and estates with a focus on developing students’ knowledge and skills in order to understand the legal environment in which these two areas operate.

In estate planning, students develop an understanding of the relevant legal requirements and the impact of those requirements and opportunities on the financial planning process. Estate planning covers a broad field which includes wills, probate and succession, taxation, property equity and trusts, contacts and family relations.

In retirement planning, students explore the law relating to contributions to superannuation funds, the various types of superannuation funds and their regulation by statute. Importantly this subject enables students to apply retirement planning law to real-life problems, for example, how to calculate tax payable on superannuation benefits and employment termination payments. The nature of members’ interest in superannuation funds and the law relating to payment of lump sum or pension benefits to members in retirement is also considered.

The subject takes both a theoretical and practical approach to the areas of retirement and estate planning. There is a focus on the role of professionals in working with clients and other professionals in these areas. This focus provides opportunities for students to develop an awareness of the importance of these area across the many facets of business and family structures.