Upon successful completion of this course, participants will be able to:

• Identify the unlimited marital deduction specifying its effect on the gross estate evaluation and 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.
• Specify the primary ways to dispose of assets using trusts and annuities including the importance of family documents to manage assets.
• Recognize the starting point used to value a business’s tangible assets, cite the R.R. 59-60 business valuation factors and the steps in R.R. 68-609’s valuation formula for intangible assets and goodwill stating the effect of both rulings on the total value of a business, determine the adjustment caused by minority interests in a closely held business and their impact on final evaluation.
• Identify ways to dispose of a business interest before death to family members while avoiding the provisions of the constructive ownership rules.
• Recognize deferred compensation agreements as a valuable estate planning tool and identify when to recommend the option of paying federal estate taxes in installments indicating the basis of the election and its eligibility requirements.