​The US Federal Aviation Administration (FAA) offers several non-commercial pilot licenses, including student, recreational, and private pilot licenses. The private pilot license (PPL) is the most popular as it allows individuals to fly fixed-wing aircraft for leisure, day or night, and carry passengers, though it prohibits flying for compensation.

To get a PPL, a person must follow an elaborate process that begins with meeting the FAA’s eligibility requirements. The FAA requires that a person must be at least 17 years old to get a PPL. It also requires candidates to be fluent in spoken and written English and obtain a third-class medical certificate.

To obtain a third-class medical certificate, a person must first create a MedXPress account with the FAA. They will have to answer a couple of questions to open the online account and submit an application for an Aviation Medical Examiner (AME). They will have 60 days from the date of submitting their application to complete an AME exam.

AMEs are physicians trained to perform FAA exams. People interested in the PPL can find AMEs at https://designee.faa.gov/designeeLocator and set an appointment with them.

During the appointment, the AME will verify the candidate’s MedXPress confirmation number and review their medical records before conducting several medical tests, including evaluations of the eyes, ears, nose, throat, heart, lungs, and musculoskeletal system. AMEs may also test neurological and psychiatric health. If the results meet FAA standards, the AME will issue the medical certificate. Otherwise, the candidate may be denied certification.

With their medical certificate in hand, a person can confidently enrol at a flight instruction school. The FAA requires that a person must pass a written knowledge test and a practical test to earn a PPL. The best way to prepare for these is to enrol at an FAA-approved pilot school and learn from a flight instructor. The instructor will take the student through the FAA learning materials, covering topics such as flight planning, aerodynamics, navigation, and weather. Candidates also receive home study material they can use to sharpen their knowledge of the FAA’s rules.

Once a person has completed ground school instruction, they will receive a certificate of graduation from the pilot school, and their instructor will write a statement certifying that the person has completed the necessary ground instruction. These documents will be required to sit for the FAA written exam. Candidates can apply to the FAA to sit the exam at an FAA-approved testing facility.

Once a PPL candidate passes their written test, they can proceed to flight training. Here, they practice flying a plane directly under a flight instructor. They learn how to fly during the day and night, fly cross-country, perform emergency procedures, and execute critical manoeuvres.

After completing flight instruction and logging the required flight hours, if a PPL candidate’s instructor feels that they are ready, they will arrange a practical flight test with an FAA-designated pilot examiner. On the day of the test, the examiner will first conduct an oral exam to assess the candidate's knowledge of aircraft systems and regulations. Afterwards, they will get into the plane with the candidate and examine how they fly.

If the examiner is satisfied with the candidate’s flying ability, they will issue them a temporary pilot certificate. With it, the candidate can exercise the privileges of a private pilot. FAA will issue them a permanent PPL after reviewing their qualifications.

Disclosure: Discipline Advisors is a DBA of DAI Securities, LLC, established in the State of Minnesota. Securities offered through DAI Securities, LLC, member FINRA/SIPC. Advisory services.

​People can pass wealth to their children and grandchildren through various strategies, such as wills. They can also use other tools, such as trusts, that may benefit generational wealth transfers more.

A legal arrangement or trust allows you to set aside assets for the benefit of others while setting conditions for how and when to distribute the assets. Unlike a will, which goes through probate and becomes public record, a trust operates privately. Moreover, individuals can structure them to ensure the wealth follows strict disbursement protocols. 

Trusts prevent the squandering of wealth. Some spend their inheritances very quickly. A well-structured trust can distribute assets gradually, ensuring that future generations benefit from the wealth without the risk of mismanagement or reckless spending.

In addition, trusts provide protection from external threats, such as lawsuits, divorce, or creditors. In most cases, trusts shield assets against legal disputes. This is particularly important for families that have built significant assets and want to keep them within the family rather than risk losing them due to unforeseen circumstances.

Moreover, trusts can reduce estate taxes. Assets transferred through a will become subject to hefty estate taxes, which can significantly reduce the amount passed on to heirs. However, individuals can structure trusts to minimize or eliminate these taxes, ensuring that more of the family’s wealth stays intact.

For those who have specific wishes about using their wealth after they pass, trusts offer control that other tools do not. For example, individuals can cover their grandchildren's education costs without allowing them to access large sums of money directly. A trust can release the funds only for tuition and educational expenses. Trusts can also cover the costs incurred by children with special needs, ensuring they have financial support without jeopardizing their eligibility for government benefits.

Some believe that only the ultra-wealthy can benefit from trusts. Many large estates use them. However, trusts can also benefit anyone who wants to responsibly protect and manage their assets. The key is choosing the right type of trust and structuring it to align with your long-term goals.

There are several types of trusts, each serving different purposes. A revocable trust, also known as a living trust, allows you to retain control over your assets during your lifetime and can be changed or revoked as needed. After establishing an irrevocable trust, no one can alter it, but it offers stronger protection against estate taxes and creditors.

Dynasty trusts preserve wealth across multiple generations, while special needs trusts ensure financial support for beneficiaries with disabilities without affecting their government benefits. Charitable trusts allow you to leave a legacy by supporting causes you care about and providing tax benefits. Choosing the right trust depends on your goals, your family’s needs, and the control and protection you want over your assets.

Setting up a trust isn’t something you should do alone. It’s best to work with a financial advisor and an estate planning attorney who can help tailor the trust to fit your family’s needs. The goal isn’t just to pass on wealth—it’s to pass it on wisely, ensuring that it continues to support your loved ones for generations to come.

Discipline Advisors is a DBA of DAI Securities, LLC established in the state of Minnesota. Securities offered through DAI Securities, LLC, member FINRA/SIPC.