This session is part of "Personal Financial Planning Boot Camp" webcast series. The full series will cover all personal financial planning (PFP) topics including tax, estate, retirement, investment, insurance/risk-management planning and the financial planning process, as well as the new Statement on Standards in PFP Services.
This session addresses gift, estate, and generation skipping transfer taxes at both the state and federal levels. Charitable planning is also explored, with a review of various vehicles and trusts which have been created: lead trusts, remainder trusts, pooled income funds, private foundations and charitable gift annuities. Non-tax aspects of estate planning, including the estate planning process, wills, trusts, durable powers of attorney, powers of appointment, and probate procedure are also studied.
- Describe the unification of the estate tax and gift tax systems
- Identify the applicable credit for estate tax, and gift tax purposes
- Explain the requirements for use of the annual exclusion for gift tax purposes
- Describe the purpose of the Crummey Power and how it can qualify a gift for the gift tax annual exclusion
- Explain the purpose and use of the annual gift tax exclusion
- Distinguish between present and future interest gifts, with specific reference to gift, estate, and generation skipping transfer tax consequences
- Identify the purposes, uses, and planning implications of Section 2503(b) & (c) trusts, and how the annual exclusion is applied to these structures
- Compare the income tax rules of cash gifts and tangible personal property
- Evaluate the financial planning uses of charitable gifts of remainder interests in personal residences and farms, and conservation easements
- Explain the uses of life insurance in charitable giving and in replacing wealth for family members
Field of Study: Taxes
Prerequisite: Basic knowledge of the areas of estate planning
Important Information on Your CPE Credit
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Group Viewing Option
Gather the team together and attend this webcast as a group. Each attendee will earn CPE Credit. Select the Group Viewing product below and enter the number of attendees in the quantity box.
Price Per Attendee
Number of Attendees
1 - 4
5 - 9
10 - 20
All group attendees must be sitting in the same room in order to obtain CPE credit.