Description

Clients believe that estate planning is only for the wealthy. This isn't the case. Perhaps as a result of the 2020 pandemic, estate planning has a renewed focus. All practitioners should be familiar with the vernacular, acronyms and techniques. Estate planning involves personal issues that affect everyone, even when the estate tax doesn't apply. Learn strategies to pass assets to future generations; provide education benefits; distribute retirement benefits, and provide a charitable legacy.

Target Audience

CPAs, financial planners and tax preparers.

Course Objectives

• Identify latest developments in estate planning
• Determine appropriate strategies and beneficiary designations to maximize after-tax assets
• Recognize issues that require updates to an existing plan, and traps for the unwary

Subjects

• The Numbers: Exemptions, exclusions and discounts
• Portability and step-up in basis
• Asset valuation
• Deductions: Marital, charitable, transmission and administration
• Retirement plan assets, annuities and life insurance
• Trust funding and administration

Prerequisites

General knowledge of individual income tax planning and issues.