Today, a substantial portion of the wealth held by Americans consists of tax-deferred retirement accounts, such as traditional IRAs, 401(k)s, and 403(b)s. These accounts are somewhat unique in that both estate and income tax may be due at death. However, these accounts create a forum for personal financial planners to provide valuable planning opportunities to their clients. This CPE course covers taxation and income tax planning, integration with other areas of personal financial planning, and the interrelationship between income tax and estate tax, which provides numerous personal financial planning opportunities.
As a personal financial planner, you should have broad familiarity with concepts such as income in respect of a decedent (IRD), retirement plans, and net unrealized appreciation. This course considers planning for these elements, which mandate the use of outside advisers, so you can work with multiple advisers in achieving the client's estate plan. When you are comfortable working, planning, and providing services to clients with other professionals, the collaboration of advisers provides additional avenues of wisdom and service fulfilment that are not possible when working without this other group of advisers.
Delivery Method: Self Study
CPE Credit: Specialized knowledge
Program Level: Intermediate