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Family Governance: Wills, Trusts, and Estate Planning

Module Details
Audience: All Levels
Duration: 4 hours
Location: Miami Herbert Business School, University of Miami


Estate planning is planning for what happens to your wealth and your dependents after you die. A good estate plan allows that your properties are distributed according to your wishes and that you minimize estate and inheritance taxes, and settlement costs, including legal and accounting fees. This module addresses all key elements in wills, trusts, probate, and estate planning to best help you to successfully navigate this complicated and challenging process.

It specifically addresses the following elements:

  1. Determine the value of your estate
  2. Choose your heirs and decide what they receive
  3. Determine the cash needs of the estate
  4. Select and implement estate planning techniques
    1. Will
    2. Durable power of attorney
    3. Joint ownership
    4. Trusts
    5. Life insurance
    6. Gifts
  5. Estate taxes and inheritance taxes
  6. Gift taxes
  7. Generation-skipping transfer (GST) tax
The module can benefit high net worth individuals, their spouses, and other family members. Estate planning at early stage can significantly minimize expenses and taxes, ease the financial and mental burdens on your family, and prepare for the unexpected events in life.


Tie Su

Dr. Tie Su, CFA, Department of Finance, Associate Professor, Finance

Research Interests - Option pricing and hedging; asset valuation; and market microstructure

Featured Publications –

“Weak and Semi-Strong Form Stock Return Predictability Revisited,” (with Wayne Ferson and Andrea Heuson), Management Science

"Discretionary Reductions in Warrant Exercise Prices," Journal of Financial Economics (coauthor with Howe)

"How the Equity Market Responds to Unanticipated Events," Journal of Business (coauthor with Patel and Brooks)

"A Simple Cost Reduction Strategy for Liquidity Traders: Trade at the Opening," Journal of Financial and Quantitative Analysis (coauthor with Brooks)


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