Course ID: EPP4

Estate Planning for the 99%: Portability and More

With a lifetime exemption of over $5,000,000, much of the traditional estate planning CPAs did for clients no longer makes sense as these clients do not face a federal estate tax liability or it can be easily avoided. But that does not mean there are not tax issues, or that a failure to plan will not cost the family money. This session will look at advising those “poor” estates. We will discuss the use of portability planning in lieu of bypass trusts, how to plan to maximize basis for heirs rather than minimize inclusion in an estate and not getting blind-sided by state level estate and inheritance taxes.


LEARNING OBJECTIVES
  • Advise clients on the advisability of making a portability election Assisting the client’s attorney in revising or designing the client’s estate plan List those states with an estate and/or inheritance tax

MAJOR TOPICS

How “old-style” estate plans actually increase the heirs taxes under the current law The uses and limitations of the portability election Using a QTIP election to combine portability with a trust to hold the decedent’s assets


DESIGNED FOR
CPAs who advise clients with net worths between $1,000,000 and $5,000,000 or married couples with a combined net worth of under $10,000,000.

FIELD OF STUDY
Taxes

PREREQUISITES
Experience advising clients on tax and financial matters

COURSE PRODUCER
Loscalzo Associates

CPE CREDITS
4.0

LEVEL
Intermediate
 

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