To give students a basic understanding of the major methods and techniques of preserving and transmitting an individual's wealth, including gift-giving, the use of various trusts, the use of life insurance, and the proper preparation of a will. Students will be expected to be aware of the causes and consequences of an inefficient transfer of wealth and therefore must acquire a working knowledge of the institutional constraints, including the law of property, wills, and intestate distribution, the probate process, and State and Federal estate, gift, inheritance, and generation-skipping transfer taxes.