Estate Elements and Tools ON DEMAND

Overview

Estate planning doesn’t have to be a daunting maze of tax codes and regulations; instead, it can be approached as a practical, real-life strategy to protect and distribute assets. This course focuses on the key elements and tools for a successful estate plan, from basic wills and healthcare directives to more complex trusts and partnerships, it explores comprehensive strategies that serve your unique needs. This approach encompasses a range of tools designed to minimize both income and estate taxes, such as strategic gifting, charitable donations, and various types of trusts. Additionally, it examines commonly used devices for transferring and controlling assets, like family limited partnerships, qualified personal residence trusts, and grantor-retained annuity trusts, each offering specific benefits in terms of tax efficiency and asset protection. By understanding these components and how they interact within the broader context of financial and family situations, practitioners can maximize the wealth transferred to beneficiaries, all while navigating the complexities of tax law with greater confidence and clarity.

Highlights

Estate planning. Estate and gift taxes. Plans, devices and techniques.

Prerequisites

None.

Designed For

CPAs.

Objectives

Identify the elements of estate planning and the importance of well-drafted legal documents and cite the key team participants and their roles in the estate planning process. Recognize the probate process to guide clients through an average probate. Identify those estate tax-planning elements that remain relatively unaffected by recent legislation and recognize how each could benefit the taxpayer’s estate planning. Specify estate planning goals in designing an effective plan and primary plans that allow disposition outside of probate and identify trusts in at least one of two ways. Determine the mechanics of a living trust and their ability to reduce death taxes and identify estate planning facts to develop an information base for an estate plan.

Preparation

None.

Notice

None.