Educational Requirements to Achieve the RSP Designation

Program Overview

In 2010, the RSP Board approved the Settlement Planning Education Center (“SPEC”) to administer and deliver the settlement planning curriculum. The program was previously administered by Texas Tech University’s Department of Outreach and Distance Education (ODE). Following the change to SPEC, the curriculum remained unchanged and continued to be supervised by the faculty of the Department of Financial Planning at Texas Tech University, primarily by adjunct faculty member, Joseph Tombs.

Tombs explains, “Since our program is unique and serves a highly specialized market, the enrollment will always be relatively low. The low enrollment made it difficult for the staff at ODE to remain well-versed and for its administrative systems to service our student’s needs. The new structure allows SPEC to handle the administrative burden.” In 2007, The RSP Board approved the curriculum of Texas Tech University’s Division of Personal Financial Planning, admitting it as an approved educational provider to meet the education requirement of the RSP designation. The 2010 decision extended this approval to the new partnership between the Division of Financial Planning at Texas Tech and SPEC.

The Settlement Planning curriculum is the product of collaboration between the RSP Board and the Personal Financial Planning Department at Texas Tech University. Although the classes do not carry degree credit, the rigor and quality of the coursework is intended to be at the master level and meant to challenge professionals with settlement planning experience. The program consists of three courses. Each course is offered on a continuous basis and may be completed at the pace of the student. Successful completion of these three courses will meet the education requirement of the RSP designation.

Information Regarding Courses at the Settlement Planning Education Center

Part 1: Settlement Planning Seminar

This course explores the emerging profession of settlement planning. Settlement planning is personal financial planning for a recipient of a legal settlement.

Topics include: forecasting needs, liquidity analysis, structured settlement annuities, rated-ages, controlling dissipation risk, taxation of settlement issues, planning for government entitlements, medical cost inflation, asset management issues, settlement preservation trusts, basics of litigation, estate planning, Monte Carlo analysis and qualified settlement funds.

Part 2: Law for Settlement Planners

The Law for Settlement Planners course explores the legal issues surrounding settlement planning.

Topics include: wills & trusts, planning for incapacity, special needs trusts,, trial procedure, property transfers, alternative dispute resolution, torts, and government benefits planning.

Part 3: Financial Planning for Settlement Planners

Financial Planning for Settlement Planners explores the theoretical and practical environmental framework of financial planning. The most relevant parts of the financial planning environment specific to settlement planning are discussed.

Topics include: principles of financial planning, financial institutions, time value of money, income tax of investments, investment principles, life insurance, annuities, retirement planning, and estate planning.

Fees

The cost of each course is $999. Payment is made during the registration process. Payment may be made by check, Visa, MasterCard, Discover or American Express through the PayPal interface found on SPEC’s website. There is an additional cost to buy the required textbooks.

To Register

Click here to register for the RSP courses through the Settlement Planning Education Center.