What Is an Accredited Estate Planner (AEP)?

Estate planning is a crucial component of creating a comprehensive roadmap for the future. It intersects with many areas of personal finance affairs, including retirement, investing, health care, and law. For this reason, it’s important to work with a professional with extensive knowledge of estate planning and its effect on other areas of your financial life. A type of expert with this skill set is someone with the title of Accredited Estate Planner (AEP).

In this article, we’ll highlight what an AEP is and name the services they provide. You’ll also learn about the various requirements and courses they must pass before they can earn the title. Finally, we’ll outline the typical types of clientele people in this role serve, as well as how you can find one if you decide you fit into that group.

AEP Definition

AEP is a professional designation available through the National Association of Estate Planners & Councils (NAEPC). Individuals who hold the title are highly skilled in estate planning roles and, according to the NAEPC’s website, must receive a “graduate level” of education centered around law or finance, including two courses offered by The American College of Financial Services.

Unlike other professional certifications, which may allow one to earn them with little to no prerequisites, the NAEPC requires candidates to have already earned one or more reputable credentials (see next section for full list). The common trait among them, however, is that they all overlap with estate planning concepts and skill sets.

Because the issuing organization requires individuals to carry other designations, it allows the AEP title to be more prestigious. It signifies that an expert with the credential has put in the time and effort to complete at least two rigorous programs and has the necessary field experience to help with comprehensive estate planning at a high level.

Becoming an AEP

Becoming an Accredited Estate Planner requires the completion of various education and experience requirements. Candidates must also agree to specifications to continue holding the marks, including agreeing to devote a certain percentage of their practice to estate planning.

Here’s a breakdown of the steps to become an AEP:

Credential and Practicing Requirements

As mentioned, a major piece of earning an AEP is the NAECP’s requirement to have one or more of 12 credentials. Specifically, it must be one of the following:

• JD
• CPA — Certified Public Accountant
• CLU — Chartered Life Underwriter
• CFP — Certified Financial Planner
• CFA — Chartered Financial Analyst
• ChFC — Chartered Financial Consultant
• CAP — Chartered Advisor in Philanthropy
• CPWA — Certified Private Wealth Advisor
• CSPG — Certified Specialist in Planned Giving
• CTFA — Certified Trust and Fiduciary Advisor
• MSFS — Master of Science in Financial Services from The American College
• MST — Master of Science in Taxation from The American College

Each of the above takes several years to attain and will give a person a strong understanding of various financial and estate topics. They also require a person to uphold high ethical and professional standards, which are also a large part of maintaining an AEP title.

While the issuing organization encourages AEPs to have other credentials, it requires that titleholders devote at least one-third of their business practices to estate planning activities. According to the NAECP’s documentation on earning the title, this includes working in the following roles:

• Attorney
• Accountant
• Insurance professional
• Financial planner
• Philanthropic advisor
• Trust officer

Education

The next requirement individuals must complete — unless they have over 15 years of experience as an estate planning professional — is an educational program of study. This includes two fully online courses from The American College of Financial Services, offered at $1,995 each. One of the courses is required, while the other is an elective students can choose from a range of options. The time to complete both is around three to six months.

As part of the educational portion, students can expect to learn:

• Tax law fundamentals, especially as it relates to estates.
• Transferal of client property during their lifetimes and after death.
• Life insurance planning strategies related to estates.
• Charitable giving.

Professional Experience and References

Before receiving the title, individuals must collect at least five years of professional experience working in the estate planning field. While this may sound like a high number, most candidates will likely have completed it while earning or working under one of the required credentials.

Prospective AEPs must also have at least three professional references from people they’ve worked alongside in the estate planning industry. This shows the person’s level of character, commitment, and competency in the field.

Agree to an Ethical Code

Finally, the NAECP mandates individuals to adhere to a code of ethics that dictates their behavior while working with clients and other professionals. The code includes nine primary responsibilities AEPs must uphold, such as practicing with fairness, honesty, and honor. An ethical code such as the NAECP’s is common in the finance industry and ensures that professionals follow the law and hold the best interests of their clients in mind.

Should You Hire One?

AEPs are exceptional professionals to hire if you have estate planning needs. For example, this might especially be the case if you’re around retirement age and are beginning to plan for the final phases of your life and beyond. With their skillset, an AEP titleholder should be able to help you understand how to wisely allocate your funds and accomplish tasks such as setting up trusts, naming beneficiaries, and writing up legal documents like wills and advance healthcare directives.

Because they must hold at least one other professional credential, an expert with the AEP designation often has a well-rounded ability and level of experience in the financial industry. In this case, they may be able to be your primary financial planner and help you manage your estate. An expert who understands how to speak the language of law and wealth management at your fingertips can be a powerful tool.

How to Find an AEP

AEPs, as their name and required experience suggest, primarily work in the estate planning field. Therefore, it’s most common to see them at firms that specialize in this practice. They may also, however, work at advisory companies — namely ones that have an estate division.

It’s important to note that not every AEP has the same expertise. Some, as a result of the credential they have, may have different focuses than others. For instance, an AEP with the CFP mark might have a more general finance skillset than an attorney with a JD. As you look for an expert, it will be vital to decide what kind of estate planner you want.

If you’ve decided it’s the right choice to hire an AEP, you can use the NAECP’s website to search for a titleholder. Its search function allows you to filter by area, type of estate professional (accountant, attorney, trust officer, etc.), and name.

Another helpful way to find a financial or estate professional is by using a free matching tool. After answering a few questions, you’ll receive a vetted recommendation tailored to your needs and circumstances.

Frequently Asked Questions

Are AEP professionals fiduciaries?

AEPs must follow a strict code of conduct put forth by the NAECP, which includes practicing high ethical standards. While not specifically mentioned, this is similar to the fiduciary standard that reputable financial advisors and wealth management experts follow.

Do AEPs have continuing education requirements?

AEPs must complete a minimum of 30 hours of continuing education every two years, with 15 hours dedicated to estate planning. A common requirement by credential-issuing organizations, this ensures their professionals stay current on new laws and industry standards.

How long does it take to earn an AEP designation?

The time to complete an AEP designation can vary depending on an individual’s experience level. If they’ve already put in the time to earn another credential and gain professional experience, it would take less than a year to receive the title. However, if they’re brand new to the field, they’ll need to collect five years of experience and, if they haven’t yet, earn one of the required secondary designations.