Estate Planning With Selected Issues ON DEMAND

Overview

This exceptional course surveys wills, living trusts, gifts, marital property, and probate avoidance. Will and trust forms are explored along with living wills, durable powers of attorney, and nominations of conservator. Designed to eliminate estate problems and death taxes, the emphasis is on practical solutions that are cost effective.

Highlights

Estate planning. Estate and gift taxes. Wills and probate. Trusts. Entities and title. Life insurance, Annuities and buy-sell agreements. Special business issues. Estate tax freeze rules. Elderly and disabled planning. Post-mortem planning and tax return requirements.

Prerequisites

None.

Designed For

CPAs and other tax professionals.

Objectives

Identify basic estate planning elements noting the importance of well-drafted legal documents and specify the key team participants including their roles in estate planning process. Identify potential death taxes including federal estate tax as it applies to various size estates, specify the principal taxes that impact death taxation, and determine the expiration of the death tax credit. Specify types of wills noting functions a will can perform, identify types of bequests, determine the duties of executors and guardians, and recall ways to hold title and their tax ramifications. Identify the relationship of parties in a trust, reasons to establish a trust, and types of trusts noting their estate planning function. Determine S corporation rules noting tax advantages and disadvantages and also specify disadvantages and advantages of incorporating a farm. Specify persons in which rights are placed by life insurance and reasons to purchase life insurance. Identify reasons why a business interest must be valued in an estate that is subject to federal estate tax, specify factors used to determine the net value of a business under the regulations, and recall the valuation factors in R. R. 59-60 noting their impact, and more.