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MAA700 - Estate Planning and Risk Management Strategies

Year:

2020 unit information

Important Update:

Classes and seminars in Trimester 3, 2020 will be online.

Last updated: 5 October 2020

Enrolment modes:Trimester 2: Burwood (Melbourne), Cloud (online)
Trimester 3: Burwood (Melbourne), Cloud (online)
Credit point(s):1
EFTSL value:0.125
Unit Chair:Trimester 2: Adam Steen
Trimester 3: Adam Steen
Prerequisite:

MAA745

Corequisite:Nil
Incompatible with: MAA729, MAA746, MAF715, MPS701
Typical study commitment:

Students will on average spend 150 hours over the teaching period undertaking the teaching, learning and assessment activities for this unit.

Scheduled learning activities - campus:

1 x 3 hour seminar per week

Scheduled learning activities - cloud:

11 x 2 hour class (recordings provided) + 11 x 1 hour online seminar

Students must attend and participate in project-based activities at the Burwood or Cloud campus on the scheduled day each week.

Content

This unit introduces students to the role of the professional financial adviser in the area of wealth protection and the distribution of wealth upon death. The unit commences by examining the role of estate planning in the advice process and seeks to develop students' ability to articulate clearly and coherently the theoretical and practical strategies in relation to estate planning, formulate and investigate problems, and recommend solutions. The unit then examines the concepts and application of personal insurance and risk management to the provision of advice to clients including the concepts of risk and insurance, the role and operation of the insurance industry and personal insurance products. The unit covers a number of important topics within estate planning including Wills, powers of attorney, trusts (including testamentary trusts), distribution of estate assets and the tax implications of the deceased estate, death aspects of financial products, and business succession planning. Within insurance and risk management, topics include risk concepts and an introduction to risk management; the role and regulation of the insurance industry in Australia, insurance contracts, types of personal insurance policies and the taxation of these products.

 

These are the Learning Outcomes (ULO) for this Unit
At the completion of this Unit, successful students can:

Deakin Graduate Learning Outcomes
ULO1

Illustrate an in-depth understanding of the creation of wills, powers of attorneys, binding health directives and estate administration processes

GLO1: Discipline-specific knowledge and capabilities

ULO2

Analyse and develop estate planning strategies that incorporate the testamentary trust framework, promotes asset protection and maximises the tax status of beneficiaries based on satisfying the needs of a client

GLO1: Discipline-specific knowledge and capabilities
GLO2: Communication
GLO4: Critical thinking

ULO3

Propose strategies within the superannuation environment and the taxation of death benefits by utilising extensive professional knowledge

GLO1: Discipline-specific knowledge and capabilities
GLO2: Communication
GLO4: Critical thinking
GLO5:Problem solving

ULO4

Interpret and illustrate the different types of risk, basic characteristics of insurance and insurable risk, type of insurers and the general and life insurance industry in Australia.

GLO1: Discipline-specific knowledge and capabilities
ULO5

Understand the legal and regulatory environment in which the insurance industry operates in Australia and apply the relevant insurance laws to analyse insurance dispute cases

GLO1: Discipline-specific knowledge and capabilities
GLO2: Communication
GLO4: Critical thinking
GLO5:Problem solving
ULO6

Examine and analyse different types of personal and general insurance cover and products and develop recommendations to satisfy the needs of a client and provide risk management techniques to mitigate loss exposures.

GLO1: Discipline-specific knowledge and capabilities
GLO4: Critical thinking
GLO5:Problem solving

These Unit Learning Outcomes are applicable for all teaching periods throughout the year

Assessment

:
Assessment Description Student output Grading and weighting
(% total mark for unit)
Indicative due week 
Assessment 1 (Individual) – Written assignment 3,000 - 4000 words 40% Week 6
Assessment 2 (Group of 3 students)- Case study report 3000-4000 words 30% Week 9
Assessment 3 (Individual) – Written assignment 3000 words 30% Week 11

The assessment due weeks provided may change. The Unit Chair will clarify the exact assessment requirements, including the due date, at the start of the teaching period.

Learning Resource

The texts and reading list for the unit can be found on the University Library via the link below: MAA700 Note: Select the relevant trimester reading list. Please note that a future teaching period's reading list may not be available until a month prior to the start of that teaching period so you may wish to use the relevant trimester's prior year reading list as a guide only.

Unit Fee Information

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