(Premier version) Integrated Approach to Estate Planning Course
This course is highly recommended for agents/advisers/ professionals who want to master the PRACTICE knowledge in INTEGRATED estate planning and close more business. This PREMIER version has 2 additional Sections: 20 effective personal 1-on-1 coaching sessions; & estate planning on business owners and professionals
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SECTION 1 - (Updated) Personal Coaching/ Case Studies Sessions with Sifu Lee
The value and importance of this Section lie in the Personal Coaching/Case Studies Sessions with Sifu Lee. You can discuss your will or estate planning cases in hand and seek clarifications on the QUESTIONS that you have after you have gone through the video-ready lessons.This will enhance your understanding of the INTEGRATED approach to estate planning model. Sifu Lee will try his best to answers your questions.
SECTION 2 - Estate Planning VIDEO LIBRARY (FAQs with answers)
This estate planning video library consists of frequently-asked-questions (FAQs) collected from students of CFP classes (Insurance & Estate planning Module of) and also questions asked by audiences in estate planning webinars. Concise and clear answers with practical examples of the questions are given. It is invaluable to estate planning students, will writers, estate & legacy planners, life insurance agents, accountants, licensed financial advisers as well as financial consumers who want practical answers to these questions.
1. What are the differences between MRTA and MLTA?
2. Does Insurance nomination take precedence over the Will?
3. A person covered with MRTA dies, will the bank or family member get the insurance proceed first?
4. What is Term Insurance Cover/Policy?
5. What will happen to the insurance proceeds if the insured die without leaving any relative?
6. I don’t want my husband to get my life insurance proceeds. Can I nominate my minor (age below 18) child?
7. How can Insurance be used in estate planning to ensure the money goes to beneficiaries? Can creditors sue for Insurance payout?
8. If a policy owner has not name any nominee. After he death, will the Insurance money be paid to his parents or to his estate?
9. A policy owner Insured himself and named his wife and minor children as nominees. When he dies, his wife receives the money pay-out, then what about the minor children? Are they not recipients of the money too?
10. At the time of nomination for his life insurance, this owner is still married with children. Then he DIVORCES his wife, so who shall receive the insurance money when he dies?
11. Does Insurance nomination takes precedence even though I have a clause in my Will that says, if nominations in my life insurance policy fails, I give it to …
12. Since Personal Accident (PA) policy is cheaper than life insurance, can I include PA into client portfolio to replace life insurance for debt cancellation?
13. What is the definition of TPD in policy contract? (Total and Permanent Disability) Is the TPD definition same in all the life insurance companies?
14. If there is no appointed trustee in the Life Insurance policy, can the policy owner change the nomination?
15. To avoid creditors claim from my death insurance money pay-out, shall I appoint a Trust Company as my trustee by setting up an Insurance Trust?
16. What documents are required to make a life insurance death claim?
17. What is the difference between trust & non trust policy in life insurance/PA nomination under Financial Service Act 2013 (Schedule 10)?
18. Minor children are mentioned in Testamentary Trust and Guardian has been appointed. Who holds the money in trust? Is it the Executor?
19. To prepare a will does one need to list down all the assets and liabilities?
20. Joint bank accounts – How to write in the Will? 2nd Question: about Foreign Will (Actual questions asked during Estate Planning Talk)
21. What happens if the appointed trustee is a con? 2nd Q: What happens when a trustee becomes a bankrupt/ (Actual questions asked during Estate Planning Talk)
22. Is corporate trustee fee expensive?
23. What is Investment-Linked Regular Premium Life policy?
24. What are the PROBLEMS if an individual is the appointed trustee and he/she dies half way doing his/her job in a testamentary trust?
25. In a Will, a Trustee is applied to hold cash for the beneficiaries in a testamentary trust. What are the differences between appointing an individual vs a corporate trustee?
26. Will the instructions in Living Trust cancelled by instructions in the Will? (Actual questions asked by student in CFP class)
27. Can anyone be appointed as a Trust Protector? (Actual question asked by student in CFP class)
SECTION 3 - Integrated Estate Planning Sales/Advisory PROCESS
This section consists of lessons in video-ready format (recording of actual physical training class) on integrated estate planning to help students and will writers who want to upgrade and master the INTEGRATED approach to estate planning. After going through this estate planning sales/advisory process, you will start picking up the practical skill of doing estate planning for parents with young children who have single or double income.
You will be learning the step-by-step Problem-Selling process as well as the proprietary 3-Box Estate Planning Solution Model to open and close cases. You will acquire the skill of how to conduct a comprehensive fact-find, and then how to design a customised estate plan by recommending a comprehensively worded Will (including testamentary trust with personalised clauses), living trust funded by life insurance, and discover the future needs of the clients for additional financial security (for financial protection, EPF & retirement funding).
The main focus is to be able to plan comprehensively for the clients’ worst case scenario, if both parents perish together (double tragedies) leaving young children behind. That will take the tremendous worries off your clients’ mind. By delivering these most powerful emotional benefit to your clients, they will regard you as their long term trusted financial and estate planner.
1. EP Sales/Advisor Process – Face to Face OPENING Presentation – Pen & Paper style (Role Play video) – Selling Problems
2. EP Sales/Advisory Process – Discussion on Opening Presentation (Problem Selling)
3. EP Sales/Advisory process – 3 Box (SOLUTIONS) Presentation (Role Play) – Integrated Approach to Estate Planning
4. EP Sales/Advisory Process – Discussions on 3 Box SOLUTIONS Presentation
5. EP Sales/Advisory Process – Discussion after the 3-Box Solutions Presentation & Will-Taking Instruction Process
6. EP Sales/Advisory Process – Continued Discussion – include Life Insurance as Funding for Estate Plan
SECTION 4 - Topical Discussions from CFP Lectures
In this Section, you will find a variety of topics and questions (with more detailed discussions) such as: how life insurance is used in estate planning; the intricacy of life insurance nomination governed under FSA2013* now; Will planning and testamentary trust; EPF nomination, as well as integrated approach to estate planning discussed by Sifu Lee during his CFP** Lecturing (he has conducted more than 400 lecturing hours to date).
He has video-ready clips which he explained in greater details his integrated approach to estate planning .
*Financial Services Act 2013
**Certified Financial Planner Certification Course
1. CFP Lecture – Very Brief Overview on Islamic Estate Planning. (Part of CFP Module topical discussion)
2. CFP Lecture – 20 Year Convertible Term Insurance vs 5 Year Renew and Convertible Term Insurance
3. CFP Lecture – Business Owner DIED – Sole proprietor VS Sdn Bhd shareholder/Director
4. CFP Lecture – Kisah Benar – One of the 4 brothers (Minimart business) who were co-borrowers of the shophouse died.
5. CFP Lecture – Living Trust vs Testamentary Trust
6. CFP Lecture – Living trust funded by life insurance through absolute assignment. (Recorded before IRB assesses the stamp duty based on policy sum assured instead of a nominal RM10)
7. CFP Lecture – Anita Mui’s Will story (contested her mother)
8. CFP Lecture – detailed explanation on integrated estate planning SOLUTION Model (35 min)
9. CFP Lecture – Questions:
What if the will writer/unit trust agent become Trust Protector of the client’s Will?
10. CFP Lecture – Revocable trust vs Irrevocable trust, what are the differences and how you use it in planning against creditors claims or bankruptcy planning?
11. CFP Lecture – Distribution Act 1958.
What’s the good news and bad news after the 1997 Amendment?
12. CFP Lecture/Talk – Question:
What’s the difference between Life Insurance Nomination vs Will instruction or vs Simple Will?
13. CFP Lecture – What happens when a DIVORCEE/Single Parent Nominate Minor Child(men) in her life insurance policy? What are the potential PROBLEMS?
14. CFP Lecture – Integrated Estate Planning for SME/Business owner
SECTION 5 - Estate Planning Awareness Talks (Video-ready format) by Sifu Lee
Sifu Lee has been invited to give financial & estate planning awareness talks to various organizations such as MARA, UITM, Chinese Chamber of Commerce, MIEA, MIA, cancer survivors group, parents with special needs children and real estate investors.
This Section lists down a number of video-ready format of such talks (1 hour plus per talk with Q&As). You can learn a lot on how Sifu presents the problems and challenges when people didn’t plan their estate properly. Go through the lessons/talks and you can easily pick up and use some of the ideas to open your cases more effectively.
1. Lee Khee Chuan was invited by Sean, a long time personal friend to share his estate planning knowledge to real estate investors during a live Facebook telecast organised with a real estate agency. Lee Khee Chuan is not endorsing any brand or company dosing the interview.
2. Estate Planning awareness talk presented to cancer survivors group by Lee Khee Chuan.
3. Estate Planning awareness talk given to a group of parents who are Mandarin speaking. This presentation was conducted in Mandarin.
4. This is a Will and Estate Planning awareness talk presented to an NGO whose members are parents with special needs children. The talk was tailor-made for parents with special needs children.
SECTION 6 - Estate Planning Short Avatar Videos (downloadable)
In this Section, there is a listing of 16 specially produced DOWNLOADABLE short avatar videos (more will be added gradually) on integrated approach to estate planning. The video contents are adapted from previously published original estate planning articles authored by Sifu Lee.
How do you use these videos? The purpose of producing these videos is for Academy students to SHARE and open cases with your high income targeted prospects.
1. Integrated Estate Planning Avatar Video-I already have EPF Nomination. Do I still need to write my Will?
2. Integrated Estate Planning Avatar Video – Providing For Your Young Children
3. Integrated Estate Planning Avatar Video- Estate Planning Made Practical
4. Integrated Estate Planning Avatar Video – Greatest Regret in Life
5. Integrated Estate Planning Avatar Video – Simple Will May not Do a Good Job for You
6. Integrated Estate Planning Avatar Video – Planning For Your Loved Ones Future
7. Integrated Estate Planning Avatar Video-Estate Planning Is Meant for the Well beings of Your loved ones
8. Integrated Estate Planning Avatar Video – Duties & Liabilities of Your Personal Representative
9. Integrated Estate Planning Avatar Video – Covid-19 Virus The Catalyst in Estate Planning
10. Integrated Estate Planning Avatar Video – Biggest Estate Planning Mistake for Business Owners!
11. Integrated Estate Planning Avatar Video – Assets in your Will Are NOT Creditor Proof
12. Integrated Estate Planning Avatar Video – ASSUMPTIONS Leading to Estate Planning Mistakes
13. Integrated Estate Planning Avatar Video – WISDOM Badly Needed in Your Estate Planning
14. Integrated Estate Planning Avatar Video – Challenges Faced by Professional Sole Proprietorship
15. Integrated Estate Planning Avatar Video – Message from a Car Bumper Sticker
16. TIME to Open Your EYES to Integrated Approach to Estate Planning
SECTION 7 - Previously Published Estate Planning Articles by Sifu Lee (in pdf)
This special Section consists of a collection of 12 previously published estate planning articles (more will be added gradually) in Smart Investor Magazine, originally written by Sifu Lee. These are DOWNLOADABLE articles in convenient pdf format which are made available only to our Academy students.
How to make the best use of these articles? Academy students can share by WhatsApp or email to your targeted high income or high networth prospects as prospecting and open case activity.
1. LKC Smart Investor Magazine Article – RM40 Billion Problem (free download)
2. LKC Smart Investor Magazine Article – Estate Planning Made Practical (free download)
3. LKC Smart Investor Magazine Article – Plan For Young Children (free download)
4. LKC Smart Investor Magazine Article – Integrated Estate Planning for Business Owner (free download)
5. LKC Smart Investor Magazine Article – Integrated Estate Planning is More Than Just Having a Will (free download)
6. LKC Smart Investor Magazine Article – If Your Business Is Worth Building It is Worth Preserving (free download)
7. LKC Smart Investor Magazine Article – No Guarantee Being a Guarantor (free download)
8. LKC Smart Investor Magazine Article – Wisdom Required when Planning your Estate (free download)
9. LKC Smart Investor Magazine Article – Penny Wise Pound Foolish (free download)
10. LKC Smart Investor Magazine Article – Anita Mui’s Will Story (free download)
11. LKC Smart Investor Magazine Article – Estate Planning is Meant for the Well-being of Your Loved Ones (free download)
12. LKC Smart Investor Magazine Article – Give a Fruit but Not the Whole Tree (free download)
SECTION 8 - Estate Planning for Business Owner
In this Section 8, You will learn about how to do integrated estate planning with business owners (SMEs). Detailed steps and concepts are taught by Sifu Lee. After mastering this section, you will be able to open business owners cases on estate planning with confidence leading to closing them estate planning tools such as comprehensive will, trust and life insurance cover for business liabilities and exposure.
1. CFP Lecture – Integrated Estate Planning for SME/Business Owner
2. CFP Lecture – Business Owner DIED – Sole Proprietor VS Sdn Bhd
3. Biz Estate Planning – Sole Prop Part I of V:
4. Biz Estate Planning – Sole Prop Part II of V:
5. Biz Estate Planning – Sole Prop Part III of V:
6. Biz Estate Planning – Sole Prop Part IV of V:
7. Biz Estate Planning – Sole Prop Part V of V:
8. Business Estate Planning – Sdn Bhd (Part 1 of 2) – Diagnose
9. Business Estate Planning – Sdn Bhd (Part 2 of 2) – Buy-Sell Arrangement
SECTION 9 - Series of 2023 Short 1 hour+ Talk
1. Topic 1 – Will & Estate Planning for Parents with Young Children – what”re the advantages & short-comings of life insurance nomination under FSA 2013?
2. Topic 2: Setting Up of Insurance Trust – How to Minimise or Avoid the Cost of Stamp Duty?
3. Topic 3: What’s the mechanism to advice the clients with regards to Double Tragedy event? (When both parents die at the same time leaving behind young children)
4. TOPIC 4: “Divorce person/Single parent with young children must have proper Will & estate planning!”
5. Topic 5: “What is Cash Trust? It is safe to invest-ah? And what is private trust, testamentary trust, insurance trust, living trust? What’re their differences?”
6. Topic 6: : Integrated Will & Estate Planning strategy for persons who are worried about how their financial affair is being managed in the event of incapacitation/TPD
7. TOPIC 7: Comprehensive Will & Estate Planning for Parents who are worried about the Welfare of their Special Need/OKU Child
End Result & Expectation after taking this course:
After learning this step-by-step Integrated Estate Planning process, you will become a competent and confident INTEGRATED estate planner who is able to plan comprehensively for your clients with single or double income especially with minor children.
You will be able to do comprehensive Will planning; Trust planning as well as protecting the financial security of your clients from multiple financial exposures. You will be able to confidently open more estate planning cases and offer customised estate planning solutions to your higher income market!