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Author: |
Danny C Santucci, JD |
Course Length: |
Pages: 28 ||| Word Count: 14,149 ||| Review Questions: 10 ||| Final Exam Questions: 10 |
CPE Credits: |
2.0 |
IRS Credits: |
2 |
Price: |
$17.95 |
Passing Score: |
70% |
Course Type: |
Text - IRS Enrolled Agents |
Technical Designation: |
Technical |
Field Of Study: |
Taxes |
Approved Audience: |
NASBA QAS - NASBA Registry |
Key Takeaways: |
This mini course brings practitioners up to date on tax issues affecting estate planning and issues that arise from owning a business interest.
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Frequently Asked Questions: |
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Description: |
Practitioners are brought up-to-date on tax issues affecting estate planning and business issues. A major emphasis of this mini-course is practical estate planning solutions that are cost-effective. Devised to reduce or eliminate estate problems and death taxes, this comprehensive guide examines wills, trusts, gifts, insurance, private annuities, and other general estate planning tools. The planning issues and problems that arise from owning a business interest are also addressed. |
Usage Rank: |
12500 |
Release: |
2006 |
Version: |
1.0 |
Prerequisites: |
General understanding of federal income taxation. |
Experience Level: |
Overview |
Additional Contents: |
Complete, no additional material needed. |
Additional Links: |
Internal: Estate Planning | Tax Perspective Issues (CPE course)
Internal: Estate Tools & Trusts | Estate Planning CPE (Mini‑Course)
External: Estate planning (Wikipedia)
External: What Is Estate Planning?
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Advance Preparation: |
None. |
Delivery Method: |
QAS Self Study |
Intended Participants: |
Anyone needing Continuing Professional Education (CPE). |
Revision Date: |
31-Aug-2026 |
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. |
Keywords: |
Estate Planning with Business Issues - Tax Mini Course - CPE course for CPAs |
Learning Objectives: |
Learning Assignment & Objectives As a result of studying the assigned materials, you should be able to meet the objectives listed below. ASSIGNMENT At the start of the materials, participants should identify the following topics for study: * Unlimited marital deduction * Simple will * Types of trusts * Charitable trusts * Family documents * Private annuities * Business valuation * Redemptions * Lifetime dispositions * Installment payment of federal estate taxes Learning Objectives After reading the materials, participants will be able to: 1. Identify the impact of stepped-up basis as they affect survivors and heirs, and recognize the benefits of establishing even a simple will and its control over certain assets. 2. Specify the primary ways to dispose of assets using a variety of trust formats. 3. Recognize the impact and use of family documents such as powers of attorney and identify the starting point used to value a business’s tangible assets, citing the R.R. 59-60 business valuation factors. 4. Specify the ways to redeem a deceased shareholder’s stock through §303 and buy/sell agreements. 5. Recognize lifetime dispositions such as gifts in transferring business ownership and identify when to recommend the option of paying federal estate taxes in installments. |
Course Contents: |
Chapter 1 - Estate Planning with Business Issues General Estate Planning Unlimited Marital Deduction Outright To Spouse Marital Deduction Trust Qualified Terminable Interest Property Trust Applicable Exemption (or Exclusion) Amount Spousal Portability of Unused Exemption Amount - §2010(c)(2) Stepped-up Basis Basic Estate Planning Goals Primary Dispositive Plans Simple Will Danger for Larger Estates Probate Assets Not Subject to a Will Assets Subject to a Will Trusts 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 Charitable Trusts Charitable Remainder Trusts Charitable Income Trusts Insurance Trusts Family Documents Living Will Property Agreement & Inventory Durable Power Of Attorney Power of Attorney for Health Care Conservatorship Funeral Arrangements Anatomical Gifts Private Annuity Advantages to the Transferor Disadvantages to the Transferor Advantages to the Transferee Disadvantages to the Transferee Special Business Issues Business Valuation Relevant Facts Revenue Ruling 59-60 Tangible Assets Special Real Estate Election - §2032A Limitations Related Party Cash Lease Intangible Assets & Goodwill R.R. 68-609 Land Subject To Conservation Easement - §2032A(c)(8) Family Member Indirect Ownership of Land Qualified Conservation Easement Qualified Real Property Interest Qualified Organization Conservation Purpose No Additional Income Tax Deduction Valuation Discounts Minority Interests Special Valuation plus Minority Discount Fractional Interests Lack of Marketability Swing Vote Premium Buy-Sell Agreements Redemptions Under §303 Requirements Corporate Accumulation For §303 Redemption Accumulation in Anticipation of Shareholder’s Death Death of a Spouse Bypass Trust Lifetime Dispositions Gifts Stock Redemptions Under §302 Substantially Disproportionate Redemption - 80/50 Rule Redemptions Not Essentially Equivalent to a Dividend Complete Redemptions Constructive Ownership - §318 Double Attribution Stock Attribution in Complete Redemptions Stock Recapitalization Section 306 Taint Deferred Compensation Agreements Installment Payment of Federal Estate Taxes - §6166 Computation Eligibility & Court Supervision Closely Held Business Acceleration of Payment Glossary |
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