wealth planning structures

CFA Level III
#1

Do we need to know the 7 structures in detail ? LOS implies a generic solution to a set of basic characteristics. Anyone advise?

#2
  1. Personal Account 2)Generation Skipping Trust 3)Genration Remainder Trust 4)CRT and CLT 5)Tax Deferred Accounts 6) Foundations 7) Variable Life Insurance
#3

Thanks bigwilly but Im already familiar with the list. My question is more about whether we need to remember the details of each specific structure ? Any ideas ?

#4

haha, yeah sorry about that, I was testing myself. I think you should know enough to answer an Item set. I wouldnt think there would be an Essay type question on this but hey you never know.

#5

Know which ones are tax efficient and some general notes on each. I don’t think any in depth will be asked. Also try to understand what is best applicable given a situation. For instance, don’t recommend a GRAT as a long term solution to transferring assets

#6

Thanks ymmt