Estate Planning: An Overview Self-Study Webinar (6 Hours)

Overview: 

Building on the belief that everyone needs an estate plan, this self-study webinar provides a comprehensive overview of estate planning. You will:

  • Feel more at ease with all the important aspects of estate planning
  • Learn how to apply the most important and popular estate planning strategies and techniques
  • See how to develop and evaluate estate plans for your clients
Objective: 

To give accountants and tax professionals the necessary planning information and the available tools to create quality estate plans for clients. You'll learn what estate planning is, when and how to devise a plan, who should plan, what the necessary planning information is and what tools are available.

Emphasis: 
  • Federal estate and gift tax issues
    – Unified credit: today and in the
       future
    – Marital deduction
    – Revocable transfers
    – Gift tax exemptions
  • Income tax issues
  • Revocable living trusts
  • Probate vs. nonprobate assets
  • Multistate issues
  • Lifetime transfers
  • Will substitutes

Identify the different legal forms of property ownership

Identify a life estate, remainder interest and reversionary interest in property

Identify the terminology used when an individual dies without a will

Recognize the major functions of a will

Recognize the implications of the different forms of property ownership to an estate plan

Recognize the role of the probate process in estate planning

Recognize the common methods used to avoid probate

Identify the implications to an estate plan when assets are held in a living trust

Identify the steps in the probate process

Recognize the fiduciary duties of a trustee

Recognize the contingent future interest time limits imposed by the “Rule Against Perpetuities”

Recognize the circumstances required for the imposition of federal gift taxes

Recognize the circumstances required for the unlimited medical and education deduction in gift taxation

Identify the role of annual exclusion giving in estate planning

Identify the gift tax ramifications of a remainder interest

Identify the age at which a Section 2503(c) trust beneficiary must receive the funds from the trust

Identify the reason a grantor may prefer a Section 2503(c) minor’s trust over an UTMA/UGMA account

Identify the benefits of making taxable gifts in excess of the donor’s lifetime exemption

Recognize the gift tax consequences of gifting a residence to a spouse as a “tenant in common”

Recognize the tax implications of gifting less than an entire interest in property to charity

Recognize the implications of the inclusion of adjusted taxable gifts in the estate tax calculation

Recognize the characteristics of the marital deduction

Identify the significance of a terminal interest in estate planning
 

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Price: 
$99.00
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
6.00
NASBA Field of Study: 
Taxes