Practitioners are brought up-to-date information 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.
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 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.
To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. In Addition, no correct or incorrect feedback for any exam question will be provided.
Upon course completion A course evaluation form is provided for your feedback.
Participants have 1 year from the date of purchase/enrollment to complete this course
CPE Prime is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org