Tools commonly used in the Insurance-Estate Planning industry for day-to-day tasks and operations.

• Estate planning software
• Life insurance calculators
• Annuity calculators
• Long-term care insurance calculators
• Trusts
• Wills
• Power of attorney forms
• Health care directives
• Life insurance policies
• Annuity contracts
• Long-term care insurance policies
• Tax planning software
• Financial planning software
• Investment management software
• Retirement planning software
• Asset protection strategies
• Charitable giving strategies
• Business succession planning strategies

Common products and services typical of NAICS Code 524298-18, illustrating the main business activities and contributions to the market.

• Life insurance for estate planning
• Annuities for estate planning
• Long-term care insurance for estate planning
• Trusts for estate planning
• Wills for estate planning
• Power of attorney for estate planning
• Health care directives for estate planning
• Estate planning for high net worth individuals
• Estate planning for families with special needs
• Estate planning for business owners

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Certified Financial Planner (CFP): A CFP is a professional certification for financial planners. It is awarded by the Certified Financial Planner Board of Standards, Inc. (CFP Board) in the United States. CFPs must pass an exam, have a bachelor's degree, and have three years of professional experience in financial planning. They must also adhere to a code of ethics and complete continuing education requirements.
• Chartered Life Underwriter (CLU): A CLU is a professional designation for individuals who specialize in life insurance and estate planning. It is awarded by the American College of Financial Services. To earn the CLU designation, individuals must complete a series of courses and exams covering topics such as insurance law, estate planning, and taxation.
• Certified Trust and Financial Advisor (CTFA): A CTFA is a professional certification for individuals who work in the trust and wealth management industry. It is awarded by the American Bankers Association. To earn the CTFA designation, individuals must have at least three years of experience in the trust and wealth management industry, complete a series of courses and exams, and adhere to a code of ethics.
• Enrolled Agent (EA): An EA is a tax professional who is authorized to represent taxpayers before the Internal Revenue Service (IRS). EAs must pass an exam covering federal tax law, have experience working for the IRS, or have completed a certain amount of continuing education in taxation.
• Accredited Estate Planner (AEP): An AEP is a professional designation for individuals who specialize in estate planning. It is awarded by the National Association of Estate Planners & Councils. To earn the AEP designation, individuals must have at least five years of experience in estate planning, complete a series of courses and exams, and adhere to a code of ethics.

A concise historical narrative of NAICS Code 524298-18 covering global milestones and recent developments within the United States.

• The Insurance-Estate Planning industry has a long history dating back to the early 20th century when life insurance policies were first used as a means of estate planning. In the 1920s, the industry saw significant growth as more people began to recognize the importance of estate planning and the role that life insurance policies could play in it. In the 1960s, the industry experienced another surge in growth as the introduction of new financial products, such as annuities and trusts, made estate planning more accessible to a wider range of consumers. In recent years, the industry has continued to evolve with the introduction of new technologies and the growing demand for personalized estate planning services. In the United States, the Insurance-Estate Planning industry has seen significant growth in recent years due to a number of factors. One of the key drivers of this growth has been the aging of the baby boomer generation, which has led to an increased demand for estate planning services. In addition, the industry has benefited from the growing popularity of online estate planning tools, which have made it easier and more affordable for consumers to create and manage their estate plans. Finally, the industry has also seen increased competition from non-traditional players such as financial advisors and online legal services, which have entered the market with new and innovative approaches to estate planning.

The anticipated future trajectory of the NAICS 524298-18 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Insurance-Estate Planning industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for estate planning services. The aging population in the country is driving the demand for estate planning services, as people want to ensure that their assets are distributed according to their wishes after they pass away. Additionally, the increasing complexity of estate planning laws and regulations is also driving the demand for professional estate planning services. The industry is also expected to benefit from the growing trend of online estate planning services, which are making it easier for people to access estate planning services. Overall, the Insurance-Estate Planning industry is expected to experience steady growth in the coming years.

Recent groundbreaking advancements and milestones in the Insurance-Estate Planning industry, reflecting notable innovations that have reshaped its landscape.

• Estate Planning Software: Many companies are now offering estate planning software that allows users to create their own estate plans online. These software programs are designed to be user-friendly and affordable, making it easier for people to access estate planning services.
• Digital Estate Planning: With the increasing importance of digital assets, many estate planning firms are now offering digital estate planning services. These services help clients to manage their digital assets, such as social media accounts and online banking information, after they pass away.
• Trust Decanting: Trust decanting is a process that allows trustees to modify the terms of a trust without going to court. This process is becoming more popular in the estate planning industry, as it allows trustees to make changes to a trust that may be necessary due to changing circumstances.
• Charitable Giving: Many estate planning firms are now offering charitable giving services to their clients. These services help clients to donate to their favorite charities in a tax-efficient manner, while also ensuring that their assets are distributed according to their wishes.
• Family Limited Partnerships: Family limited partnerships are becoming more popular in the estate planning industry. These partnerships allow families to transfer assets to future generations while minimizing taxes and protecting assets from creditors.