$290.00 – $320.00
Webcasts are available for viewing Monday – Saturday, 8am – 8pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)
CPE Credits
10 Credits: Taxes
Course Level
Overview
Format
Self-Study
Course Description
This estate planning self-study CPE course stands out by transforming the traditionally complex and text-heavy study into a visually engaging and practical learning experience. By utilizing diagrams, charts, tables, and calculation sheets, the CPE course offers a clear and concise understanding of estate planning essentials. The key benefit for participants is the ability to grasp complex estate planning concepts through real-life scenarios, making the learning process both intuitive and applicable. The course covers a comprehensive range of topics, from identifying key team participants in the estate planning process to understanding the probate process and designing trusts. It also delves into the mechanics of different trusts, the impact of recent legislation on estate planning, and the strategies for reducing death taxes. Moreover, the self-study CPE course provides insights into effective gift planning, the use of special exclusions, deductions, and trusts as estate-planning tools, and the intricacies of federal gift tax. This approach not only imparts theoretical knowledge but also equips participants with practical skills for developing effective estate plans, guiding clients through probate, and optimizing estate and gift tax strategies, thereby enhancing their professional competence and service delivery.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Identify the elements of estate planning and the importance of well-drafted legal documents and cite the key team participants and their roles in estate planning process;
- Recognize the probate process to guide clients through an average;
- Identify those estate tax-planning elements that remain relatively unaffected by recent legislation and recognize how each could benefit the taxpayer’s estate planning;
- Specify estate planning goals in designing an effective plan and primary plans that allow disposition outside of probate and identify trusts in at least one of two ways;
- Determine the mechanics of a living “A-B” and “A-B-C” (QTIP) trust and their ability to reduce death taxes and identify estate planning facts to develop an information base for an estate plan;
- Identify potential death taxes differentiating federal estate tax as it applies to various size estates, determine principal taxes that impact how individuals are taxed at death, and specify the expiration of the death tax credit;
- Determine the taxable estate under §2501 and what assets are included in a gross estate using basic categories of property and transfers;
- Specify estate deductions allowed under federal estate tax law and their tax advantages and disadvantages;
- Determine the value of a decedent’s assets using permitted elections, recognize the use of Form 706 to pay any estate tax due, and identify the tax basis of estate assets and how common transactions affect property basis under §1014;
- Recognize the advantages of gift planning including estate reduction and the impact of the GST, specify the steps to compute gift tax identifying the gift tax exclusion amount, and determine the value of different types of gifts including split gifting for spouses;
- Identify the various gift tax exclusions, and the treatment of below-market loans, cite the gift tax marital deduction requirements, specify the tax consequences of giving various assets and factors to consider when gifting, and recognize the use of Form 709 to compute and pay federal gift tax;
- Determine the distinctions between the process of property disposition within probate under a will and intestate succession and the resulting impact on an estate and its beneficiaries;
- Identify ways to make transfers outside the probate system including the use of a trust;
- Specify special exclusions, deductions, and transfers to be used as estate-planning tools permitting clients to pass more wealth to heirs and save death taxes while retaining maximum control where possible;
- Recognize how specialized trusts, valuations, and entities can reduce estate taxes, cite the advantages of the annual gift tax exclusion, and how it can provide a tax deduction or offer income, estate, and gift tax savings; and
- Recognize a grantor retained income trust as an estate-planning device specifying the variations of this trust and their benefits to the grantor and beneficiaries.
Course Specifics
823361953
January 8, 2024
General understanding of Federal income taxation.
None
211
Compliance Information
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02413-24-S
IRS Federal Tax Law Credits: 10
CTEC Course Number: 2071-CE-1981
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 …