Core Focus Area 1 - Stewardship Section


I understand the meaning of wealth stewardship and promoting stewarding principles

I understand how inherited wealth is passed down over generations

I am confident in my ability to manage the social and emotional aspects of wealth

I am interested in building entrepreneurial skills

I understand the meaning, motivations, and purpose of wealth

I can describe the responsibilities of a beneficiary

I am familiar with best practices for beneficiary and trustee communication

I am familiar with financial parent skills

I can list the duties of a trustee

I understand how to read a trust document

I am familiar with common trust provisions or terms

I know how to explore the SWOT analysis for the beneficiary and trustee

I know about all the key components of an estate plan

I understand the process of settling an estate plan

I know what the responsibilities are of an executor, power of attorney (POA), and healthcare power of attorney

I understand what happens during probate

I can list the different types of trusts

I understand how/when trusts are used with a will

I know the difference between a revocable trust vs. irrevocable trust

I understand taxes, their purpose, and the history of taxation

I understand the different forms of tax such as progressive, regressive, and flat taxes

I can describe the different forms of tax on investments

I am familiar with the various tax forms

I understand what financial planning is

I know how to read financial statements (cashflow, income, and balance sheet)

I know what a budget is and how to create one

I am familiar with capital sufficiency

I can list the ethical considerations of a trustee

I understand how to best communicate with different types of advisors

I am aware of key dates when it comes to administering my trust

I understand how a trust is invested

I understand how to create an investment policy statement

I know what asset allocation is

I know how to read an investment statement

I know how to comprehend the performance metrics for my investments

I understand what is important with risk versus return when it comes to investing a trust’s assets