ACEP
ADVANCED CONCEPTS IN ESTATE PLANNING
The purpose of this course is to explore the current thinking of practitioners,
commentators, and the Internal Revenue Service regarding estate-planning
strategies and techniques, fully updated to reflect the rapidly-changing
estate and gift tax rules. The course reviews current cases, rulings, regulations,
and articles with a view toward practical applications.
Major Topics
- Understanding the generation-skipping transfer tax -- what it is,
how to calculate it, and planning opportunities to avoid or minimize
the tax; use of trusts; reverse QTIPs; leveraging life insurance; why
this may be the year to make distributions
- Discounting business and investment assets -- current issues with
FLPs; what gets taxpayers into trouble; what is necessary to get the
maximum discount; income tax issues; will it survive tax reform?
- Making maximum use of disclaimers to minimize transfer taxes; special
problems of jointly-held property; why they are particularly important
in 2010
- Closely-held business interests: structuring estate plans to take
advantage of deferral of estate tax; financing settlement costs; taking
money out of a corporation tax-free through redemption of stock
- Asset protection: what opportunities exist to protect assets from
creditors; uses of trusts, LPs, LLCs, and foreign jurisdictions
- Impact of the new significant law changes in estate planning
Learning Objectives
- Understand how the generation-skipping transfer tax is applied and how to calculate it
- Learn how disclaimers can be used in estate planning
- Learn when you can use discounts to reduce estate value, and when you can't
Designed For: CPAs who need to be updated on the hottest, most sophisticated estate-planning strategies and techniques in play today.
Level of Knowledge: Advanced
Prerequisites: A strong background in estate planning, and previous completion of basic- and intermediate-level courses in this area.
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