Investment bankers and brokers can do estate planning work for wealthy individuals.
The term estate planning is used to describe the process of developing a plan for the disbursement of a person’s estate upon death. People employed in estate planning jobs typically have a background in law or finance. Many of these people have college degrees and professional credentials and licenses, while others employed in estate planning jobs are people who handle administrative tasks and do not have industry-specific academic or professional credentials.
Inventory rules are often complex; Families and creditors of people with unproved and incomplete wills are often involved in complex court battles related to the disbursement of assets. Consequently, law firms employ a large number of licensed attorneys in estate planning work. Rules related to succession generally vary between regions, in which case a specific attorney can only serve clients whose assets are located in a specific region. Licensed attorneys are often assisted by legal advisors who have typically taken some college-level law classes but have not attended law school or been unable to obtain a license to practice. While many attorneys and legal advisors are employed by large corporations, others are self-employed individuals who may also assist clients in matters other than estate planning.
Financial professionals, including investment bankers and brokers, are often employed in estate planning jobs. These people usually work for large commercial banks or stockbrokers and help wealthy people invest their cash assets in bonds that can be easily passed on to their heirs. Also, some financial firms employ certified accountants and tax advisors in estate planning work and these individuals help their clients organize their assets in a tax efficient manner. In some nations, people can issue insurance contracts to beneficiaries without being subject to inheritance or income taxes, and some of the people involved in estate planning are licensed insurance agents. Employees of large banks are sometimes licensed to sell insurance,
Charities often rely heavily on donations from wealthy benefactors; Many nonprofit groups employ administrators who are tasked with contacting potential donors and arranging for cash settlements to be transferred to the organization. These individuals must have good interpersonal and management skills, but employers generally do not require these individuals to have completed college degrees or any industry-related certification courses. Many colleges and schools also employ people in similar roles.