Objective
- Name legal principles and definitions essential to estate planning
- Identify best practices for working closely with legal counsel
- List main property law concepts
- Identify complex community property issues
- Determine best methods for filing special forms: Form SS-4, Form 56, Form 4810, Form 5495
- Arrange an executor checklist
Highlights
- Legal principles and definitions
- Trust accounting issues
- Working closely with legal counsel proactively in the best interest of the client
- Property law concepts
- Complex community property issues
- Filing special forms: Form SS-4, Form 56, Form 4810, and Form 5495
- Executor checklist
- The basics of filing a Form 1041 for an estate or non-grantor trust
- Filing a final Form 709
- The basics of filing Form 706
- Understanding 706 elections
- Understanding Estate Valuations, including GST and portability
- Special considerations for IRAs and ERISA plans
- When to make Section 454 elections
- When to make Section 754 elections
- Understanding the fine points of basis
- S corp issues
- Partnership and LLC considerations
- Passive loss carryforwards and estates
- Fiscal year elections
- 65-day election for trusts and estates
- Tax aspects of pecuniary and specific bequests
Designed For
Any CPA or FA who wants to become familiar with the basic aspects of estate administrationPrerequisite
NoneAdvanced Preparation
None