Estate planning strategies addressed in this course cover a wide range of personal financial planning goals: charitable giving, managing blended marriage situations, multigenerational transfers, and wealth replacement. In this course, you will learn the correct application of estate planning strategies that can greatly enhance the client's personal financial plan.
Part of most estate planning considerations, gifting strategies will also be discussed in this course. As the personal financial planner, you should have a firm understanding of the difference between gifts of present and future interests, tax basis reporting, and the rules of installment sales, as well as an awareness of concepts such as self-canceling installment notes and private annuities. Additionally, any gift strategy planning must consider the potential for taxation on any transfer of assets between family members.
The intra-family transfer of property is an important tool in personal financial planning. Income may be shifted and the effects of gains from taxable transactions can be mitigated. Additionally, the personal financial planner must be vigilant in preventing a transfer from being considered a gift and subject to gift taxation.
Delivery Method: Self Study
CPE Credit: Specialized knowledge
Program Level: Intermediate