knowledge topics
Options upon the Death of a DB Pension Plan Member
KNOWLEDGE EXPECTED OF: CFP® Professionals Only
- Estimate the tax impact resulting from the death of a defined benefit pension plan member.
- Explain how each of the factors may impact the suitability of options for the capital property held within a defined benefit pension plan at the death of the plan member.
- Beneficiary designations
- Instructions contained in the deceased’s will
- Estate cash flow needs
- Estate planning opportunities
- Liquidability of assets
- Tax impact
- Evaluate how each of the factors may impact the suitability of options for the capital property held within a defined benefit pension plan at the death of the plan member.
Glossary of Verbs (mouse over to see definition)
-
Define
To state exactly the meaning of
-
Identify
To be aware of / to recognize and correctly name / to locate an appropriate resource
-
Explain
To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it
-
Compare
To note the similarities and differences between two or more things
-
Estimate
To determine an approximate value for
-
Calculate
To find the value using mathematics
-
Convert
To change from one form or purpose to another
-
Evaluate
To reach a conclusion or make a judgement through careful study
-
Interpret
To give the meaning of / to construe or understand / to translate orally
Read more about the Taxonomy used in the FP-BoK
previous / Options upon the Death of a PRPP Member