Knowing the basics of advanced estate planning strategies is essential in advising clients with significant wealth who are seeking assistance in developing succession plans to address individual needs. This course reviews transfer and income tax laws, plus available strategies to minimize taxes. Also, we'll discuss the basic structure of advanced strategies, provisions in the governing document that authorize and regulate these strategies, modeling and tracking spreadsheets and software options. To illustrate the concepts discussed, you'll experience a live demonstration of financial planning software, run modeling exercises and review examples of sophisticated estate and business planning scenarios.
Learning Objectives
• Determine when a client's assets and estate planning goals warrant high-end estate planning
• Identify the pros and cons of various strategies and which clients most benefit from high-end estate planning strategies
• Recognize different advanced estate planning strategies and obstructions to such planning that involve age, economics, taxes or life situation
Major Topics
• A review of the current estate planning environment that impacts high-end estate planning
• Review of current and future estate, gift and GST tax exemptions
• Analyze issues on the death of an individual or second spouse
• Spousal issues that impact high-end estate planning
• Income tax and basis issues
• Review of advanced strategies
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