CPE025DS - Estate Planning

This course is divided as follows:

TABLE OF CONTENTS
Introduction - Page 1
Estate Planning Team - Page 2
Attorney - Page 2
Accountant - Page 2
Insurance Agents - Page 2
Financial Planner - Page 2
Estate Administration - Page 3
Probate Court - Page 3
Executor - Page 3
Internal Revenue Service (IRS) - Page 3
Trustee - Page 4
Changing Legislative Landscape - Page 4
Unlimited Marital Deduction - Page 4
Outright To Spouse - Page 5
Marital Deduction Trust - Page 5
Qualified Terminable Interest Property Trust - Page 5
Applicable Exclusion Amount - Page 6
Stepped-up Basis - Page 8
Basis Increase for Certain Property - Page 10
Basic Estate Planning Goals - Page 12
Primary Dispositive Plans - Page 12
Simple Will - Page 12
Danger for Larger Estates - Page 13
Probate - Page 13
Transfers in Probate - Page 13
Disposition of Property without a Will - Page 15
Transfers Outside Probate - Page 15
Joint Tenancy with Right of Survivorship - Page 16
Tenancy in Common - Page 16
Retirement Plan & Individual Retirement Accounts - Page 16
Life Insurance - Page 16
Gifts - Page 16
Payable on Death Accounts - Page 17
Transfers Using a Trust - Page 17
Trusts - Page 17
Types of Trusts - Page 18
Living Trusts - Page 18
Testamentary Trusts - Page 18
Revocable & Irrevocable - Page 18
Living "A-B" Revocable Trust - Page 18
Living "A-B-C" (QTIP) Trust - Page 21
Special Planning Tools - Page 23
Spending - Page 23
Annual Gift Tax Exclusion - Page 23
Per Donee/Per Year - Page 24
Gifts in Excess of the Annual Exclusion - Page 24
No Gift Tax - Page 24
Gifts within 3 Years of Death - Page 24
Uniform Gifts to Minors Act - Page 25
Exception for Minor's Trusts - Page 25
Medical & Tuition Exclusion - Page 26
Qualifying Transfers - Page 26
Installment Payment of Estate Taxes - Page 26
Computation - Page 26
Eligibility & Court Supervision - Page 26
Closely Held Business - Page 27
Acceleration of Payment - Page 26
Annuities - Page 27
Deferred Annuity - Page 27
Private Annuity - Page 27
Unsecured Promise - Page 28
Installment Sale to Family Member - Page 28
Self-Canceling Installment Notes - Page 29
Minor Trusts - Page 29
Charitable Remainder Trusts - Page 29
Charitable Remainder Annuity Trust - Page 30
Cumulative Annuity - Page 30
50% & 10% Annuity Restrictions - Page 30
Pooled Income Fund - Page 30
Charitable Remainder Unitrust - Page 31
Charitable Lead Trust - Page 31
Grantor Retained Income Trusts - Page 32
Qualified Personal Residence Trusts - Page 32
Grantor Retained Annuity Trusts - Page 32
Grantor Retained Unitrusts - Page 33
Insurance Trusts - Page 33
Family Limited Partnerships - Page 36
Estate Savings - Page 36
Income Tax Savings - Page 36
Family Partnership Requirements - Page 36
Recognizing a Partner - Page 37
Control - Page 38
Transferability - Page 38
Donee as a Partner - Page 38
Minor as a Partner - Page 40
Purchased Interests - Page 40
Capital Interest in the Partnership - Page 40
Capital as a Material Income Producing Item - Page 40
Buy-Sell Agreements - Page 41
Definition - Page 41
Contractual Format - Page 41
Funding - Page 42
Life Insurance Funding - Page 42
Purchase Price & Terms - Page 42
Valuation - Page 42
Estate Tax Valuation - Page 43
Family Documents - Page 44
Living Will - Page 44
Property Agreement & Inventory - Page 44
Durable Power Of Attorney - Page 45
Power of Attorney for Health Care - Page 45
Conservatorship - Page 45
Types - Page 45
Funeral Arrangements - Page 48
Anatomical Gifts - Page 48

By completing this estate planning course a student will learn about wills, living trusts, gifts, insurance, marital property and probate avoidance.

CTEC
NASBA
IRS - Enrolled Agents