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MAA700 - Estate Planning and Risk Management Strategies

Year:

2022 unit information

Enrolment modes:Trimester 2: Online
Trimester 3: Online
Credit point(s):1
EFTSL value:0.125
Unit Chair:Trimester 2: Adam Steen
Trimester 3: Adam Steen
Prerequisite:

Nil

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: 1 x 1 hour scheduled online seminar per 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.

ULO These are the Learning Outcomes (ULO) for this unit. At the completion of this unit, successful students can: Deakin Graduate Learning Outcomes
ULO1

Critically evaluate the key features of estate planning, personal risk insurance and risk management and the regulatory contexts in which they operate 

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

ULO2

Analyse client needs in relation to estate planning and risk management and insurance 

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

ULO3

Evaluate taxation issues associated with personal insurance and estate planning and develop and critique a range of possible strategies to mitigate the problems identified 

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

ULO4

Analyse, evaluate and construct estate planning and insurance solutions to meets the needs of a client, incorporating use of technology, that meets regulatory, ethical and professional requirements

GLO1: Discipline-specific knowledge and capabilities
GLO2: Communication
GLO3: Digital Literacy
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) Online Multiple Choice Quiz 

  20% Week 5

Assessment 2: (Group of 3) Case Study Report

4000 words 40% Week 8

Assessment 3: Individual Report (Client)

3500 words 40% 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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