Having a thorough knowledge of tax law as well as non-tax law is important to the professional in properly advising clients during the estate planning process. There are many common pitfalls, errors and mistakes clients and professional make during this process. This course is designed to explore these issues and provide the practitioner with practical solutions to common mistakes in the estate planning process.
Course ID: TRAP
Traps and Pitfalls in Estate Planning
- List the most common pitfalls, errors and mistakes made by clients and professionals in the estate planning process.
- The need to properly coordinate the efforts of different advisors
- Distinguish and understand life and death planning issues
- Distinguish and understand tax and non-tax planning issues
- Proper use and funding of trusts
- Mistakes made in the disposition of assets
- Understand the special issues of the single taxpayer
- Understand the special issues of same sex couples
- Mistakes made in planning for beneficiaries with special needs
- Proper choice of fiduciaries
- Understand what needs to be in place beyond the legal documents (properly advising the living from “the grave”)
DESIGNED FORCPAs, EAs, attorneys finance professionals, financial planners, insurance professionals, and bankers
FIELD OF STUDY