Estate Planning

Credits: 2.00

Prerequisites: Federal Income Taxation

This course analyzes, from both tax and non-tax perspectives, the fundamental means of achieving optimum distribution of family wealth. Principal topics include the marital deduction and its most effective use in an estate plan; types of marital deduction bequests and plans; applications of qualified disclaimers; introduction to the grantor trust rules, income taxation of trusts and estates, and post-mortem tax planning; use of revocable trusts as will substitutes; planning for incapacity of a client; the use of inter vivos gifts - outright gifts, irrevocable trusts, the annual exclusion, 2503(c) trusts and other dispositions to minors; selection of gift property; use of life insurance in estate planning; tax and non-tax consequences of ownership and transfer of life insurance; special problems of the life insurance trust; estate planning for clients with closely held business interests - valuation and liquidity problems, shareholder agreements, and estate freezing techniques; and charitable gifts, including charitable split-interest trusts.