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Course Details

Estate Tools & Trusts - Mini Course (Course Id 1142)

Updated / QAS / Registry / EA   Add to Cart 
Author : Danny C Santucci, JD
Status : Production
CPE Credits : 2.0
IRS Credits : 2
Price : $19.95
Passing Score : 70%
Primary Subject-Field Of Study:

Taxes - Taxation for Course Id 1142

Description :

Everyone needs to do estate planning. It is more than just planning for death. Estate planning is designing a program for effective wealth building, preservation, and disposition of property at the minimum possible tax cost. This exceptional mini-course surveys wills, living trusts, gifts, marital property, and probate avoidance. Designed to eliminate estate problems and death taxes, the emphasis is on practical solutions that are cost effective. The text reviews and explains both federal gift and estate tax systems giving practice pointers and planning observations.

Usage Rank : 0
Release : 2016
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 : Self-Study.
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 13-Feb-2016
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 - NASBA Registry - IRS Enrolled Agents - 1142

Keywords : Taxes, Estate, Tools, Trusts, 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.

ASSIGNMENT

At the start of the materials, participants should identify the following topics for study:

    * Build, preserve & distribute
    * Legal documents
    * Estate planning team
    * Estate administration
    * Estate planning techniques & devices
    * Trusts
Learning Objectives:

After reading the materials, participants will be able to:
    1. Identify the key participants and their roles in a coordinated estate plan and recognize probate process including trust administration;
    2. Determine specialized estate planning tools noting the use of trusts and identify how such tools save death taxes and transfer wealth while accentuating asset control;
    3. Specify recommended trust provisions and requirements noting how these terms and rules impact estate and trust taxation.
Course Contents :

Chapter 1 - Estate Tools & Trusts

 

Build, Preserve & Distribute 

Legal Documents

Estate Planning Team

Attorney

Accountant

Insurance Agents

Financial Planner

Estate Administration

Probate Court

Executor

Internal Revenue Service (IRS)

Trustee

Family Members

Things to Be Done When Death Occurs

Estate Planning Techniques & Devices

Transfers within Probate

Disposition of Property without a Will

Disposition of Property with a Will

Transfers outside Probate

Joint Tenancy with Right of Survivorship

Tenancy in Common

Retirement Plan & Individual Retirement Accounts

Life Insurance

Gifts

Payable on Death Accounts (POD)

Transfers Using a Trust

Special Planning Tools

Spending

Annual Gift Tax Exclusion

Applicable Exclusion Amount

Spousal Portability of Unused Exemption Amount

2010 Special Election

Unlimited Marital Deduction

Family Business Deduction - Expired

Installment Payment of Estate Taxes

Private Annuities

Installment Sale to Family Member

Self-Canceling Installment Notes

Irrevocable Life Insurance Trust

Special Valuation of Farms and Businesses - 2032A

Crummey Trusts

Charitable Remainder Trusts

Minor Trusts

Family Limited Partnerships

Grantor Retained Income Trusts

Qualified Personal Residence Trusts (QPRTs)

Grantor Retained Annuity Trusts (GRATs)

Grantor Retained Unitrusts (GRUTs)

Buy-Sell Agreements

Trusts

What is a Trust?

Why a Trust?

Types of Trusts

Common Elements

Revocable Trust

Irrevocable Trusts

Testamentary Trust

Foreign Trusts - 679

Family Trusts

Medicaid Trust

Living Trust

Reversion

Advantages of a Living Trust

Disadvantages

Priority

Pour-Over Will

Trust Taxation

Income Tax

Grantor Trusts - 671 to 678

Grantor Retained Income Trust

Revocable Trusts Included in Estate - 646 & 2652(b)(1)

Election for Income Tax Purposes

Irrevocable Trust Taxation

Capital Gains

Deduction of Estate Planning Expenses

Deductibility of Death Expenses

Gift Tax

Estate Tax

Unlimited Marital Deduction

Outright to Spouse

Marital Deduction Trust

Qualified Terminable Interest Property (QTIP) Trust

A-B Format

A-B-C (QTIP) Format

Valuation & Tax Basis

Alternate Valuation

Fundamental Provisions - Revocable Living Trust

Identification Clause

Recital Clause

Property Transfer Clause

Income & Principal Clause

Revocation & Amendment Clause

Trustee Clause

Trustees Acceptance

Choice of a Trustee

Corporate Trustee Factors

Individual Trustee Factors

Trust Termination Clause

 

Glossary

Taxes Course 1142 Home: https://www.cpethink.com/tax-cpa-courses
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