Learn how to structure an effective estate plan using a highly visual, real-life situation approach. Diagrams, charts, tables, and calculation sheets are used to present key elements of any successful estate plan - from the simplest to the most complex.
Delivery Method: Online Interactive Self Study
Prerequisites: General understanding of federal income taxation.
Advanced Preparation: None
Policies: Click here
Field of Study: Taxes
Passing Score: 70%
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Chapter 1: Estate Planning
1. Identify the elements of estate planning and the importance of well-drafted legal documents and cite the key team participants noting their roles in estate planning process.
2. Recognize the probate process to guide clients through an average probate.
3. Identify those estate tax-planning elements that remain relatively unaffected by recent legislation and recognize how each could benefit the taxpayer's estate planning.
4. Specify estate-planning goals in designing an effective plan noting primary plans that allow disposition outside of probate and identify trusts in at least one of two ways.
5. Determine the mechanics of a living "A-B" and "A-B-C" (QTIP) trust noting their ability to reduce death taxes and identify of estate-planning facts to develop an information base for an estate plan.
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CPA: Suitable for all CPAs
IRS: Enrolled Agents Program Number 263UK-T-00095-14-S