CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS
Self-Study

Estate Planning Essentials

Focused overview for Estate Planning Fundamentals and Tax Strategy. Master essential planning tools from wills to trusts while learning practical solutions for effective wealth transfer.

Individual
Teams

$290.00$320.00

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CPE Credits

10 Credits: Taxes
Course Level
Overview
Format
Self-Study

Course Description

“Just the facts ma’am; just the estate planning facts.” Designed to give a quick overview of estate planning essentials, this self-study CPE course explores wills, living trusts, gifts, marital property, and probate avoidance. Will and trust types are examined in the context of general estate and gift taxation. Designed to eliminate estate problems and death taxes, this CPE class emphasizes practical solutions that are cost effective. Talk about having it all in an overview course – there is even a quick review of immediate postmortem death tax planning and filling out Form 706.

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Learning Objectives

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

Chapter 1

  • Identify basic estate planning elements recognizing the importance of well-drafted legal documents, regular assessment of estate plan, and efficient estate and trust administration.
  • Specify estate tax techniques that save death taxes while retaining maximum control including the use of family limited partnerships and recognize the importance of an inventory and evaluation of assets.

Chapter 2

  • Identify federal estate tax as it applies to various size estates, specify the persons subject to federal estate tax, and determine what is included in a taxable estate such as gifts, trust transfers, joint interests, and powers of appointment.
  • Specify estate deductions allowed under federal estate tax law, determine the value of a decedent’s assets using permitted elections, recognize the use of Form 706 to pay estate tax, and select the tax basis of estate assets stating how common transactions affect property basis under §1014.
  • Recall the advantages of gift planning including estate reduction recognizing the impact of the GST, specify the steps to compute gift tax identifying the gift tax exclusion amount, and identify the various gift tax exclusions.

Chapter 3

  • Cite the functions a will can perform and recall ways to hold title and their tax ramifications.
  • Identify the advantages of a properly drafted will and specify the pros and cons of probate proceedings and their avoidance.

Chapter 4

  • Identify the relationship of parties in a trust and reasons to establish a trust, specify the common elements of trust, and recognize trusts according to planning function.
  • Specify recommended living trust provisions and identify the use of a grantor trust and an unlimited marital deduction.

Chapter 5

  • Determine post-mortem estate planning action in the face of administrative expenses using elections and disclaimers, specify the filing requirements of a decedent’s estate tax return, and identify exceptions to the general rule of estate tax payment.
  • Determine the processes and procedures necessary in the preparation and filing of Form 706 and identify the filing requirements for estate income tax and decedent’s final income tax returns.
  • Determine the total income to be included on the decedent’s final income tax return using available exemptions or deductions.
  • Identify how to avoid penalties when filing a gift tax return and recall special gift applications and traps stating ways to avoid their tax consequences.

 

 

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Course Specifics

Course ID
SS824402348
Revision Date
October 25, 2024
Prerequisites

General understanding of federal income taxation.

Advanced Preparation

None

Number of Pages
254

Compliance Information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02525-24-S
IRS Federal Tax Law Credits: 10
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-2085
CTEC Federal Tax Law Credits: 10

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration 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. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.

Meet The Experts

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 …