CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Visual Estate Planning

Icon_Self-Study
QAS Self-Study
Icon_Level
Overview
Credits
CPE Credits
9 Credits: Taxes

Course Description

Throw away the tax Code and regulations and make sense of estate planning. 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.

Learning Objectives

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

Chapter 1

  • Identify the elements of estate planning and the importance of well-drafted legal documents and cite the key team participants and their roles in estate planning process.
  • Recognize the probate process to guide clients through an average probate.
  • Identify those estate tax-planning elements that remain relatively unaffected by recent legislation and recognize how each could benefit the taxpayer’s estate planning.
  • Specify estate planning goals in designing an effective plan and primary plans that allow disposition outside of probate and identify trusts in at least one of two ways.
  • Determine the mechanics of a living “A-B” and “A-B-C” (QTIP) trust and their ability to reduce death taxes and identify estate planning facts to develop an information base for an estate plan.

Chapter 2

  • Identify potential death taxes differentiating federal estate tax as it applies to various size estates, determine principal taxes that impact how individuals are taxed at death, and specify the expiration of the death tax credit.
  • Determine the taxable estate under §2501 and what assets are included in a gross estate using basic categories of property and transfers.
  • Specify estate deductions allowed under federal estate tax law and their tax advantages and disadvantages.
  • Determine the value of a decedent’s assets using permitted elections, recognize the use of Form 706 to pay any estate tax due, and identify the tax basis of estate assets and how common transactions affect property basis under §1014.
  • Recognize the advantages of gift planning including estate reduction and the impact of the GST, specify the steps to compute gift tax identifying the gift tax exclusion amount, and determine the value of different types of gifts including split gifting for spouses.
  • Identify the various gift tax exclusions, and the treatment of below-market loans, cite the gift tax marital deduction requirements, specify the tax consequences of giving various assets and factors to consider when gifting, and recognize the use of Form 709 to compute and pay federal gift tax.

Chapter 3

  • Determine the distinctions between the process of property disposition within probate under a will and intestate succession and the resulting impact on an estate and its beneficiaries.
  • Identify ways to make transfers outside the probate system including the use of a trust.
  • Specify special exclusions, deductions, and transfers to be used as estate-planning tools permitting clients to pass more wealth to heirs and save death taxes while retaining maximum control where possible.
  • Recognize how specialized trusts, valuations, and entities can reduce estate taxes, cite the advantages of the annual gift tax exclusion, and how it can provide a tax deduction or offer income, estate, and gift tax savings.
  • Recognize a grantor retained income trust as an estate-planning device specifying the variations of this trust and their benefits to the grantor and beneficiaries.

Course Specifics

Course ID
8212842
Revision Date
December 16, 2021
Number of Pages
198
Prerequisites

General understanding of federal income taxation.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01967-21-S
IRS Federal Tax Law Credits: 9
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1705
CTEC Federal Tax Law Credits: 9

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Danny Santucci Headshot
Danny Santucci, JD

Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known …

Danny Santucci, JD Read More »

Visual Estate Planning

Expert Instructors
CPE CREDITS
9 Credits: Taxes

$261.00$291.00

Clear
Icon_Self-Study
QAS Self-Study
Icon_Level
Overview
Credits
CPE Credits
9 Credits: Taxes

Course Description

Throw away the tax Code and regulations and make sense of estate planning. 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.

Learning Objectives

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

Chapter 1

  • Identify the elements of estate planning and the importance of well-drafted legal documents and cite the key team participants and their roles in estate planning process.
  • Recognize the probate process to guide clients through an average probate.
  • Identify those estate tax-planning elements that remain relatively unaffected by recent legislation and recognize how each could benefit the taxpayer’s estate planning.
  • Specify estate planning goals in designing an effective plan and primary plans that allow disposition outside of probate and identify trusts in at least one of two ways.
  • Determine the mechanics of a living “A-B” and “A-B-C” (QTIP) trust and their ability to reduce death taxes and identify estate planning facts to develop an information base for an estate plan.

Chapter 2

  • Identify potential death taxes differentiating federal estate tax as it applies to various size estates, determine principal taxes that impact how individuals are taxed at death, and specify the expiration of the death tax credit.
  • Determine the taxable estate under §2501 and what assets are included in a gross estate using basic categories of property and transfers.
  • Specify estate deductions allowed under federal estate tax law and their tax advantages and disadvantages.
  • Determine the value of a decedent’s assets using permitted elections, recognize the use of Form 706 to pay any estate tax due, and identify the tax basis of estate assets and how common transactions affect property basis under §1014.
  • Recognize the advantages of gift planning including estate reduction and the impact of the GST, specify the steps to compute gift tax identifying the gift tax exclusion amount, and determine the value of different types of gifts including split gifting for spouses.
  • Identify the various gift tax exclusions, and the treatment of below-market loans, cite the gift tax marital deduction requirements, specify the tax consequences of giving various assets and factors to consider when gifting, and recognize the use of Form 709 to compute and pay federal gift tax.

Chapter 3

  • Determine the distinctions between the process of property disposition within probate under a will and intestate succession and the resulting impact on an estate and its beneficiaries.
  • Identify ways to make transfers outside the probate system including the use of a trust.
  • Specify special exclusions, deductions, and transfers to be used as estate-planning tools permitting clients to pass more wealth to heirs and save death taxes while retaining maximum control where possible.
  • Recognize how specialized trusts, valuations, and entities can reduce estate taxes, cite the advantages of the annual gift tax exclusion, and how it can provide a tax deduction or offer income, estate, and gift tax savings.
  • Recognize a grantor retained income trust as an estate-planning device specifying the variations of this trust and their benefits to the grantor and beneficiaries.

Course Specifics

Course ID
8212842
Revision Date
December 16, 2021
Number of Pages
198
Prerequisites

General understanding of federal income taxation.

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01967-21-S
IRS Federal Tax Law Credits: 9
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1705
CTEC Federal Tax Law Credits: 9

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Danny Santucci Headshot
Danny Santucci, JD

Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known …

Danny Santucci, JD Read More »

Visual Estate Planning

Expert Instructors
CPE CREDITS
9 Credits: Taxes

$261.00$291.00

Clear