To get started in estate planning, learn the basics of intestate succession, probate, wills, health care directives, general powers of attorney, trusts, gift and estate tax planning as well as transfers of assets. Dig into the basics of transfer tax planning, including A-B trusts, QTIPs, IDGTs, QPRTs, GRATs, unlimited marital deduction planning, portability, planning with life insurance trusts, family limited partnerships and more. Also, particular attention will be paid to planning for estate tax law changes and looking at advanced planning strategies, such as the use of trust protectors.
• Identify estate planning objectives.
• Recall the basics of our legal system as it relates to probate, wills and trusts.
• Recognize common issues from basic to advanced gift and estate tax planning.
• Identify the skills to deal with gift and estate tax problems.
• Intestate succession
• Holding title to assets
• Lifetime asset transfers and testamentary asset transfers planning
• Structures to avoid or minimize transfer taxes
• Living trusts, including A-B and A-B-C, terminating irrevocable trusts, using trust protectors
• Life insurance trusts, FLPs, QPRTs, IDGTs, GRATs and charitable trusts
Tax professionals, CPAs, attorneys and emerging professionals.
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