Bruce Starks, CPA, CFP® – Online CFP Program

Passing Property Via Will

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…

Tariffs, Economic Boom or Bust?

Good to Know Consider radioactive fissionable material; it’s beneficial when used to generate electrical power in a reactor but has the potential to create mass extinction in a nuclear war. The author respectfully suggests that — similarly — tariffs can propel our economy to new heights or smother our economic growth. We’ll turn over both sides of…

Duties of a Planner

Course: Fundamentals of Financial PlanningLesson 9: CFP Board Regulatory Requirements Student Question: I have a query regarding one of the questions on the review, shared below. Based on the answer, they are not considering opening a custodial account as providing Financial ADVICE otherwise the first response would also be required (manage conflict of interest). Why…

Crummey Powers

Insurance PlanningLesson 16: The Irrevocable Life Insurance Trust Student Question: Must Crummey powers always be in effect to apply the annual gift tax exclusion in order to transfer to an irrevocable trust? Or is it the case that as long as it was done once, will all transfers be eligible for the annual gift tax exclusion? Instructor…

5 Habits of Successful Examinees

CFP® Certificants in the News Successful people are simply those with successful habits -Brian Tracy Habits are either your friend or foe. Take eating habits for example. According to WebMD the Mediterranean Diet is notable for: “Reducing the risk for cardiovascular diseases, such as heart attack and stroke Supporting a healthy weight, Supporting healthy blood sugar,…

Maximum Family Benefit

Course: Estate PlanningLesson 10: Applications of Estate Planning Concepts Student Question: Does the maximum family benefit apply to a husband and wife that are both fully insured if the combined total between the two exceeds the maximum family limit? If I understand correctly, the maximum family limit only applies if there are beneficiaries within the…

QTIP Marital Trust

Course: Estate PlanningLesson 10: Applications of Estate Planning Concepts Student Question: Can you help clarify for me seemingly contradictory information in the two sentences below regarding “disinheriting children”? The first sentence seems to imply that the surviving spouse could disinherit children. However, the second sentence states that QTIPs are often used to “prevent a surviving spouse from disinheriting children.”…

AI — A Financial Advisor’s Friend

Good to Know AI can be a competitive advantage for savvy financial advisors. While its potential applications for financial advisors are yet to be fully realized, here are just 6 strategies to consider. Contact more clients— AI can assist in making your client communications more frequent, targeted, and meaningful. For example, AI can manage client…

Premium Payments on Buy-Sell Agreements

Course: Insurance PlanningLesson 17: Business Uses of Life and Disability Insurance Student Question: I have a quick question regarding buy/sell agreement; not clear who would pay the premiums on disability and or life insurance on the principals and the key employees? Instructor Response: Great question. A buy-sell agreement relates to owners of the business while…

Free Money From Social Security For Public Sector Retirees

Good to Know Your client, or their parents, may be entitled to increased retirement benefits from Social Security as a result of The Social Security Fairness Act of 2025 (the Act). Specifically public service workers may have been penalized if they qualified for Social Security Retirement benefits and they worked in a private sector job.…