Singapore University of Social Sciences

Succession & Legacy Planning

Succession & Legacy Planning (NPM515)

Synopsis

NPM515 Succession & Legacy Planning aims to introduce the concept of the provisions of advisory from a client/philanthropist’s perspectives. It will explore the relationship between a client family and their wealth advisors, and seek to help client families move from the wealth preservation mind-set, to the succession planning and wealth distribution stage, including planning for legacy and philanthropic objectives. The course also aims to provide an understanding of the motivation behind philanthropic giving. It will equip the students with knowledge, practical techniques and strategies to help clients achieve the long-term legacy and wealth succession objectives through the lens of wealth transfer, legacy planning and philanthropy.

Level: 5
Credit Units: 5
Presentation Pattern: Every July

Topics

  • Understanding the dynamics of HNWI families
  • Why succession planning is vital for families
  • Trends in legacy
  • Trends in succession planning
  • Starting the legacy and succession planning conversation
  • The scope and vocabulary of the legacy and succession planning
  • The tools for legacy and succession planning
  • The process of legacy and succession planning
  • The family offices landscape
  • Working with family offices
  • Philanthropic giving and tax planning
  • A global mindset for local philanthropy

Learning Outcome

  • Discuss the broad overview of the dynamics of wealth preservation, legacy and succession planning for high-net-worth individual (HNWI) families.
  • Appraise the use of trust and other structures for above planning.
  • Organising the framework and methodology of wealth transfer, including philanthropic giving.
  • Relate the concept of legacy and succession planning to HNWI families.
  • Design a plan to guide HNWI families in relation to the use of various types of structures and instruments for legacy planning.
  • Plan to guide HNWI families through a process of including philanthropic giving in their succession planning.
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