Explore every episode of the podcast Open Exam Prep
| Title | Pub. Date | Duration | |
|---|---|---|---|
| [Fundamentals] 9, Confidentiality | 23 déc. 2024 | 00:03:57 | |
Maintain client privacy and confidentiality, with exceptions for legal and enforcement purposes. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Fundamentals] 8, Conflict of Interest | 23 déc. 2024 | 00:04:05 | |
Must disclose and manage conflicts, including compensation and product limitations. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Fundamentals] 7, Fiduciary Duty | 23 déc. 2024 | 00:04:03 | |
CFP® professionals must act in the best interest of clients, adhering to fiduciary standards. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Fundamentals] 6, Professionalism | 23 déc. 2024 | 00:03:52 | |
Requires dignity, courtesy, and appropriate use of CFP® marks in professional interactions. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Fundamentals] 5, Continuing Education | 23 déc. 2024 | 00:03:57 | |
CFP® certificants must complete 30 hours every two years, including ethics training. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Fundamentals] 4, Code of Ethics | 23 déc. 2024 | 00:04:03 | |
Includes honesty, integrity, client best interests, due care, conflict management, and confidentiality. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Fundamentals] 3, Financial Planning Process | 23 déc. 2024 | 00:03:58 | |
Collaborative process to help clients meet life goals through integrated financial advice. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Fundamentals] 2, Financial Advice Definition | 23 déc. 2024 | 00:03:56 | |
Recommendations on financial plans, asset management, and professional services. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Fundamentals] 10, Compensation Models | 23 déc. 2024 | 00:03:52 | |
Fee-only, fee-based, and commission structures, with specific disclosure requirements. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Fundamentals] 1, Ethics Emphasis | 21 déc. 2024 | 00:04:04 | |
Heavy focus on ethics, communication, and professional conduct in financial planning scenarios. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 19, Installment Payments of Estate Tax | 20 déc. 2024 | 00:04:09 | |
Sections 6166 & 6161 allow for extended payment periods for closely held business interests. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 18, Income in Respect of a Decedent (IRD) | 20 déc. 2024 | 00:03:38 | |
Income a decedent was entitled to but not received before death, included in the gross estate without a step-up in basis. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 17, Generation Skipping Transfer Tax (GSTT) | 20 déc. 2024 | 00:03:52 | |
Imposed on transfers to individuals two or more generations younger, with specific rules for direct skips and taxable terminations. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 16, Trusts in Estate Planning | 20 déc. 2024 | 00:03:50 | |
Used for management, creditor protection, and tax avoidance. Types include revocable, irrevocable, and specific trusts like GRATs and QPRTs. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 20, Special Use Valuation | 20 déc. 2024 | 00:03:57 | |
Section 2032A allows valuation of property based on current use rather than highest and best use, with specific conditions and limitations. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 12, Gifts and Gift Tax | 19 déc. 2024 | 00:03:53 | |
Gifts are taxed based on FMV at the date of gift. Split gifts and annual exclusions affect tax liability. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 11, Types of Property Ownership | 19 déc. 2024 | 00:04:03 | |
Sole ownership, tenants in common, JTWROS, tenants by the entirety, and community property have different probate and tax implications. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 15, Applicable Exclusion Amount | 19 déc. 2024 | 00:03:59 | |
Lifetime credit against estate and gift taxes, with specific calculations for taxable amounts. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 14, Marital and Charitable Deductions | 19 déc. 2024 | 00:03:56 | |
Unlimited deductions for transfers between spouses and to qualified charities. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 13, Crummey Provision | 19 déc. 2024 | 00:03:52 | |
Allows trust contributions to qualify for annual exclusion by creating a present interest. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 10, Avoiding Probate | 18 déc. 2024 | 00:03:47 | |
Achieved through state contract law, life insurance, annuities, and certain account types. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 9, Probate | 18 déc. 2024 | 00:03:55 | |
Legal process of retitling assets, with advantages like clear title but disadvantages like cost and publicity. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 8, Methods to Transfer Property | 18 déc. 2024 | 00:04:01 | |
Includes operation of law, contract, trust, probate, and intestate succession. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 7, Power of Attorney | 18 déc. 2024 | 00:03:51 | |
Allows an agent to act for the principal, ceasing at death. Powers can be general or limited. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 6, Will Provisions | 18 déc. 2024 | 00:03:51 | |
Survivorship and disclaimer clauses affect inheritance and tax implications. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 3, Important Definitions | 17 déc. 2024 | 00:03:35 | |
Decedent, heirs, legatees, donor, donee, abatement, and ademption are key terms in estate planning. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 2, Unauthorized Practice of Law | 17 déc. 2024 | 00:03:51 | |
Only licensed attorneys can draft legal documents. Planners should refer clients to attorneys for legal advice. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 1, Estate Planning Process | 17 déc. 2024 | 00:04:09 | |
Involves accumulation, management, conservation, and transfer of wealth considering legal, tax, and personal objectives. Effective and efficient transfers are crucial. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 4, Basic Documents | 17 déc. 2024 | 00:03:52 | |
Includes wills, durable power of attorney, and advance medical directives to manage assets and healthcare decisions. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||
| [Estate Planning] 5, Types of Wills | 17 déc. 2024 | 00:03:39 | |
Survivorship and disclaimer clauses affect inheritance and tax implications. CFP Exam Prep Podcast. More CFP Exam Prep Content Visit: https://cfp-exam-prep.com/ | |||