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Self-Study — Course Detail

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2012 Quick & Easy Tax Update: Estates, Trusts & Beneficiaries
Vern Hoven
Copyright© 2012

Course: 8122392   Version 1207

NASBA Category:     Taxes     CPE Credits 2
CTEC Credits: 2 Federal / California
Level: Update  (41 pages)
Prerequisite: General tax preparation experience.
Advance Preparation: None.
IRS Program Nbr: 0MYXB-U-00204-12-S



Course Description

This course takes you right to the cutting edge of the latest estate, trust, and gift tax rules and planning techniques. The course summarizes all relevant tax legislation, cases, and regulations; examines the resulting impact; and discusses strategic tax planning opportunities.  You’ll learn everything you need to know about:

• Revised estate and gift tax rules for 2012 and 2013
• Top estate planning ideas for 2012
• Form 706 revised and updated for new estate tax rules
• The built-in capital gains tax liability discount
• Opportunities related to low asset values and low AFR interest rates
• How to win in wealth planning with FLPs, FLLCs and S corporations
• $5/$10 million exclusion from estate tax
• New portability benefit for surviving spouse
• Using family limited partnerships to save estate tax
• Limited deductibility of trust funds

*Please note: The content in this course is also covered in the 2012 Federal Tax Update.
 

Western CPE has been approved by the California Tax Education Council to offer Course Title (2071-CE-0205), which provides 2 hours of federal credit and 0 hours of state credit towards the annual “continuing education” requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.


Learning Objectives
Upon successful completion of this course, participants will be able to:
  • Summarize the recent tax law changes affecting estates.
  • State how recent tax law changes impact gift taxes.
  • Determine how estate planning techniques can be used to the taxpayer’s benefit.
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