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Course Details

Estate Planning - Mini Course (Course Id 246)

Updated / QAS / Registry / EA
  Add to Cart 
Author : Danny C Santucci, JD
Course Length : Pages: 28 ||| Review Questions: 10 ||| Final Exam Questions: 10
CPE Credits : 2.0
IRS Credits : 2
Price : $17.95
Passing Score : 70%
Course Type: NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents
Technical Designation: Technical
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 246

Description :

Estate planning is when tomorrow becomes today! As a result of recent legislation, estate planning has been made surprisingly simple. This mini-course surveys wills, living trusts, gifts, insurance, marital property, and probate avoidance. The will and trust forms are explored along with living wills, durable powers of attorney, and nominations of conservator. 

Usage Rank : 22143
Release : 2023
Version : 1.0
Prerequisites : General understanding of federal income taxation.
Experience Level : Overview
Additional Contents : Complete, no additional material needed
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 08-Jul-2023
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents - 246

Keywords : Taxes, Estate, Planning, Mini, Course, cpe, cpa, online course
Learning Objectives :

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

    At the start of the materials, participants should identify the following topics for study:
      * Estate planning team & administration
      * Unlimited marital deduction & applicable exclusion amount
      * Primary dispositive plans
      * Trusts
      * Annual gift tax exclusion
      * Annuities & installment sales to family members
      * Charitable remainder trusts
      * Family limited partnerships
      * Buy-sell agreements
      * Family documents
Learning Objectives:
    After reading the materials, participants will be able to:
      1. Recognize members of the estate planning team including their role in the estate administration process, specify the unlimited marital deduction requirements, cite the applicable exclusion amount and identify the effects of stepped-up basis particularly, the repealed of modified carryover basis.
      2. Determine the limits of a simple will and the advantages and disadvantages of living trusts.
      3. Identify specialized estate planning tools and how they permit clients to pass more wealth and save death taxes, cite the uses of a durable power of attorney, and specify instances when a conservatorship is appropriate.
Course Contents :

Chapter 1 - Estate Planning



Estate Planning Team



Insurance Agents

Financial Planner

Estate Administration

Probate Court


Internal Revenue Service


Changing Legislative Landscape

Unlimited Marital Deduction

Outright To Spouse

Marital Deduction Trust

Qualified Terminable Interest Property Trust

Applicable Exclusion (or Exemption) Amount

Spousal Portability of Unused Exemption Amount - 2010(c)(2)

Stepped-up & Modified Carryover Basis

Modified Carryover Basis - 1022

Limited Basis Increase for Certain Property

2010 Special Election

Basic Estate Planning Goals

Primary Dispositive Plans

Simple Will

Danger for Larger Estates


Transfers within Probate

Disposition of Property without a Will

Transfers outside Probate

Joint Tenancy with Right of Survivorship

Tenancy in Common

Retirement Plan & Individual Retirement Accounts

Life Insurance


Payable on Death Accounts (POD)

Transfers Using a Trust


Types of Trusts

Living Trusts

Testamentary Trusts

Revocable & Irrevocable

Living A-B Revocable Trust

Living A-B-C (QTIP) Trust

Impact of Spousal Portability on Trust B under TUIRJCA

Special Planning Tools


Annual Gift Tax Exclusion

Per Donee/Per Year

Gifts in Excess of the Annual Exclusion

No Gift Tax

Gifts within 3 Years of Death

Uniform Gifts to Minors Act

Exception for Minors Trusts - 2503(b) & (c)

Medical & Tuition Exclusion - 2503(e)

Qualifying Transfers

Installment Payment of Estate Taxes - 6166

Computation - 6601(j)

Eligibility & Court Supervision

Closely Held Business

Acceleration of Payment


Deferred Annuity

Private Annuity

Unsecured Promise

Installment Sale to Family Member

Self-Canceling Installment Notes

Minor Trusts

Charitable Remainder Trusts

Charitable Remainder Annuity Trust

Cumulative Annuity

50% & 10% Annuity Restrictions - 664(d)

Pooled Income Fund

Charitable Remainder Unitrust

Charitable Lead Trust

Grantor Retained Income Trusts

Qualified Personal Residence Trusts (QPRTs)

Grantor Retained Annuity Trusts (GRATs)

Grantor Retained Unitrusts (GRUTs)

Insurance Trusts

Family Limited Partnerships

Estate Savings

Income Tax Savings

Family Partnership Requirements

Recognizing a Partner



Donee as a Partner

Minor as a Partner

Purchased Interests

Capital Interest in the Partnership

Capital as a Material Income Producing Item

Buy-Sell Agreements


Contractual Format


Life Insurance Funding

Purchase Price & Terms


Estate Tax Valuation

Using the Buy-Sell Agreement to Set Value

Family Documents

Living Will

Property Agreement & Inventory

Durable Power Of Attorney

Power of Attorney for Health Care



Funeral Arrangements

Anatomical Gifts



CPE Taxes Course: https://www.cpethink.com/tax-cpa-courses
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