If you're a finance, accounting, or legal professional and are considering a career in estate planning or want to hire an estate planner, consider some of the specific certifications associated with the role. Some of the most common include the chartered trust and estate planner (CTEP), accredited estate planner (AEP), certified trust and fiduciary advisor (CTFA), and other related designations.

Role of Estate Planners

Estate planners typically work with individual investors, 澳洲幸运5官方开奖结果体彩网:family offices, business owners, and 澳洲幸运5官方开奖结果体彩网:high-net-worth individuals (HNWIs). Their role is cꦇomplex and෴ involves many moving parts.

An estate planner works with clients to formulate and implement a 澳洲幸运5官方开奖结果体彩网:tax-planning strategy to efficiently pass assets to heirs and other beneficiaries, according to the client's wishes. Other aspects of estate planning range from bequeathing 澳洲幸运5官方开奖结果体彩网:charitable contributions to choosing life insurance.

Some major estate-planning providers integrate their practice with 澳洲幸运5官方开奖结果体彩网:financial advisory and wealth management services. Wealth managers, trust officers and trust administrators, investment officer𓆏s, lawyers, accountants, and financial planners all could have an interest in pursuing certifications.

Chartered Trust and Estate Planner (CTEP)

The Global Academy of Finance and Management is the certifying body for the chartered trust and estate planner designation, which has an emphasis on professionals who serve HNWIs. Earning a CTEP requires at least three years of experience in estate planning or trusts.

Candidates must also have:

• A post-secondary degree (undergraduate, graduate, or doctorate) in finance, tax, accounting, financial services
• Work experience
• Five or more approved and related courses
• A certification training course
• Annual 澳洲幸运5官方开奖结果体彩网:continuing education (CE) requirements, which vary

Accredited Estate Planner (AEP)

The AEP designation is awarded by the National Association of Estate Plaಞnners &am🌄p; Councils. Candidates must be or have the following:

• An active practice in accounting, insurance/financial planning, law, 澳洲幸运5官方开奖结果体彩网:philanthropy, and trust services for at least five years
• Spending 1/3 of your time doing estate planning
  
• Three professional references from people who engaged you for estate planning services
• Membership in a local estate planning council
• Two graduate courses through the American College of Financial Services

Candidates should also be designated as one or more of the following::

• CAP
• 澳洲幸运5官方开奖结果体彩网:Chartered financial analyst (CFA)
• 澳洲幸运5官方开奖结果体彩网:Certified financial planner (CFP)
• ChFC
• 澳洲幸运5官方开奖结果体彩网:Chartered life underwriter (CLU)
• 澳洲幸运5官方开奖结果体彩网:Certified public accountant (CPA)
• CPWA
• CSPG
• 澳洲幸运✃5官方开奖结果体彩网:Certified trust and fiduciary advisor (CTFA)

The association also requires candidates to have an active license to practice law, MSFS, and/or MST.

Certified Trust and Fiduciary Advisor (CTFA)

The CFTA is awarded by the 澳洲幸运5官方开奖结果体彩网:American Bankers Association (ABA). The requirements include:

• A minimum of three years of experience in 澳洲幸运5官方开奖结果体彩网:wealth management and completion of one approved wealth management training program
• An ethics statement
• Passing an exam

To maintain the designation, 45 credits of continuing education are required every three years.

Related Wealth Management Advisory ꧂Certifications

There are also different certifications related to estate plann🐼ing that may be useful. T๊hese include the following:

• 澳洲幸运5官方开奖结果体彩网:Chartered wealth manager
• 澳洲幸运5官方开奖结果体彩网:Chartered asset manager
• 澳洲幸运5官方开奖结果体彩网:Chartered portfolio manager
• Chartered 澳洲幸运5官方开奖结果体彩网:compliance officer
  

Estate Planners Education and Experience

Most estate planners have law, accounting, or finance degrees and certifications—and for good reason. Estate planning is a complicated maze of federal and state laws, 澳洲幸运5官方开奖结果体彩网:Internal Revenue Service (IRS) rulings, and judicial interpretations.

These affect how assets and income are treated for tax purposes based on a wide array of types of transactions, transfers, 澳洲幸运5官方开奖结果体彩网:triggering events, individual profiles—age, single or married, etc.—and entities. Creating and managing these transactions requires understanding 澳洲幸运5官方开奖结果体彩网:fiduciary duties and responsibilities.

Constantly changing laws, as well as shifts in the judicial and political climate, make estate planning 🅰a highly dynamic field in which advisors engineer transactions that must hold water with authorities. Certain practices and insights can have a short shelf life.

In addition to various advanced financial degrees, law degrees, and certifications—a 澳洲幸运5官方开奖结果体彩网:master of business ♌administration (MBA), MPA, JD, CPA, and CFA—the specific, complex, and constantly changing nature of the field makes special certifications helpful. Having one or more of these certifications also gives estate planners added credibility, which provides clients with an extra degree of trust and helps in growing their business.

The Bottom Line

Becoming an estate planner can be difficult and requires experience and a breadth of knowledge, including law, accounting, and f𒀰inance. Earning an estate planning certification enhances the skills of estate planners and the🦂ir credibility, especially in the eyes of potential clients.