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Coverdell ESA versus 529

By Dan Madden, CFP®

Course: Fundamentals of Financial PlanningLesson 7: Educational Aid and Funding Calculation Student Question: So is there ever any benefit to choosing a Coverdell ESA over a 529 Plan? It seems the big difference in the two is that the Coverdell has an AGI limit, so why would you just not always steer clients towards 529 Plans…

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Characteristics of a Will

By Dan Madden, CFP®

Which of the following statements concerning a Will are correct? (1) A will can be altered, amended, or completely rewritten at any time before a person’s death. (2)  A will cannot be rewritten but can be amended at any time by a codicil. (3)  A will must be signed by the maker and usually must…

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Integrating Psychology into Financial Planning: Enhancing Client Relationships and Outcomes

By Shawn Janes

Good to Know One of the most significant additions to the CFP® curriculum in recent years is the formal inclusion of the Psychology of Financial Planning as a core knowledge domain. This shift reflects a broader recognition that effective financial planning requires more than technical expertise – it demands insight into human behavior, communication, and…

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Social Security Widower Benefits

By Bruce Starks, CPA, CFP®

Course: Insurance PlanningLesson 10: Social Security Student Question: When it comes to social security widower’s benefit’s, is the widow eligible to take his/her SS benefit early (age 62) and then switch over to the deceased spouse’s full benefit at 67? Or would the widow only be eligible for one of the two benefits? Instructor Response:…

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Generation Skipping Transfer Tax

By Dan Madden, CFP®

Which of the following transfers would most likely trigger the Generation-Skipping Transfer (GST) Tax, assuming the applicable exemptions have already been fully used? A grandmother gifts $18,000 to her grandson’s 529 college savings plan. A father transfers $10 million to his daughter as part of his estate plan. A grandfather creates a trust that distributes $2…

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Planning in a Global Context: What CFP® Professionals Can Learn from the World Economic Forum 2025

By Shawn Janes

CFP® Board In The News The World Economic Forum (WEF) 2025 in Davos brought together global leaders to discuss emerging risks and opportunities shaping the world economy. For CFP® professionals, these high-level discussions might seem far removed from everyday client meetings-but the insights they offer are increasingly relevant to financial planning. As the financial lives…

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Passing Property Via Will

By Bruce Starks, CPA, CFP®

Course: Investment PlanningLesson 14: Evaluation Portfolio Performance Student Question: Hello – I’m a little confused about the example (below) discussing an heirloom of only sentimental value. Why would this be titled at all for a will, especially since an earlier lecture said items of no value would pass through will as the situation does not…

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Optimal Retirement Benefits

By Dan Madden, CFP®

John and Maria are both 62 years old and considering when to begin collecting Social Security retirement benefits. John has a higher earnings history than Maria. Maria did not work for many years while raising their children and has lower lifetime earnings. They are trying to maximize their combined lifetime benefits. Which of the following…

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Behavioral Finance and the CFP®: Understanding Client Psychology in Financial Planning

By Shawn Janes

CFP® Board In The News The success of a financial plan often hinges less on market returns and more on client behavior. While technical accuracy and investment discipline are essential, the ability to understand and anticipate human emotion and decision-making is becoming a critical skill for today’s financial planner. Behavioral finance-the study of how cognitive…

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