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Instructor
Mary Kay Foss, CPA
Instructor
Clients believe that estate planning is only for the wealthy. This isn’t the case. Estate planning involves personal issues that affect everyone, even when the estate tax doesn’t apply. Learn strategies to fairly pass assets to future generations; provide education benefits; distribute retirement benefits, and provide a charitable legacy. Estate planning has a renewed focus. All practitioners should be familiar with the vernacular, acronyms and techniques.
• Identify new developments in estate, tax, retirement and financial planning.
• Recognize issues that require updates to an existing plan, and traps for the unwary.
• Select applicable planning techniques for beneficiaries to maximize after-tax assets.
• Understand portability and when it should be elected.
• Exemptions and exclusions
• Portability and step-up in basis
• Asset valuation
• Discounts
• Marital and charitable deductions
• Deductions: Transmission expenses and Administration expenses (706 or 1041)
• Income in respect of a decedent and retirement plan assets
• Life insurance and annuities
• Trust or estate administration
• Trust funding
General knowledge of individual income tax planning and issues.
CPAs, financial planners and tax preparers.