This course offers an in-depth exploration into the financial and tax-related challenges faced by surviving spouses. Designed for tax, accounting, and finance professionals, it provides a thorough understanding of the various aspects that need to be addressed in the event of a spouse’s passing. The course covers critical areas such as income tax issues related to the decedent’s estate, the intricacies of Form 706 and the GST Exclusion, and other vital estate tax matters. It also delves into practical matters like managing the spouse’s principal residence, retirement plans, stock options, and social security considerations.

The benefits of this course are significant. Participants will gain the knowledge to efficiently handle financial income tax returns for the decedent, including estimating taxes and finalizing Form 1040 with considerations for losses and carryovers. The course provides insights into the changes in the surviving spouse’s tax bracket and how to adjust to these changes. Moreover, it offers guidance on gift tax planning and fiduciary obligations, essential for ensuring the surviving spouse’s financial stability and compliance with legal requirements. This course is an invaluable resource for professionals seeking to provide comprehensive support and advice to clients during one of the most challenging times of their lives.