Incapacity and Postmortem Estate Planning
Incapacity planning is examined for practitioners looking to support clients as they navigate planning for this sensitive and challenging area of risk.
Format
Online
NASBA Field of Study
Specialized Knowledge
Level
Intermediate
CPE Credits
1.5
Author(s)
Susan M. Tillery
Availability
1 year
Product Number
PFPEST623SSO
Understanding how to navigate the sensitive and challenging area of incapacity and postmortem planning can help you ensure your clients are prepared for unpredictable circumstances.
Specialized knowledge in incapacity planning
Overlooking the risk of incapacity can lead to significant issues with your clients’ estate plans. You’ll examine:
- The role and requirements of guardianship
- Circumstances in which a guardian will be appointed
- Alternative approaches to guardianship
- The role of insurance in minimizing economic loss due to incapacity
Postmortem estate planning options
A comprehensive understanding of opportunities in postmortem estate planning will allow you to help clients plan for their heirs. You’ll learn about:
- Planning opportunities for state and income tax elections
- Valuations, deductible expenses, and disclaimers that can reduce taxes for a decedent’s estate
- Specific considerations and opportunities for shareholders of closely held businesses
Specific postmortem planning considerations
Every client has unique circumstances. You’ll cover certain scenarios that have specific considerations for estate planning, including:
- Implications for a U.S citizen with a noncitizen spouse
- Planning considerations for blended families
- Identification of community property assets
- Planning for the ongoing needs of pets
Choose Your Path: Individual or Certificate Program
Flexible options – you can enroll in the individual course or take the Estate Planning Certificate Program.
Who Will Benefit
- Financial Planners
- CPAs
Key Topics
- Incapacity planning
- Guardianship
- Powers of attorney
- Advanced medical directives
- Postmortem estate planning
- Estate and income tax returns
- Other state planning considerations
Learning Outcomes
- Determine the role and requirements of guardianship.
- Identify alternative arrangements to guardianship.
- Determine the potential role of insurance in addressing incapacity risk.
- Identify postmortem planning opportunities for elections on estate and income tax returns.
- Determine how valuations, deductible expenses, and disclaimers can reduce taxes for the decedent’s estate and beneficiaries.
- Apply the use of redemptions and deferrals to postmortem estate planning for shareholders of closely held businesses.
- Identify estate planning implications for a U.S. citizen of having a noncitizen spouse.
- Determine estate planning considerations for blended families.
Group ordering for your team
2 to 5 registrants
Save time with our group order form. We’ll send a consolidated invoice to keep your learning expenses organized.
Start order6+ registrants
We can help with group discounts. Email client.support@aicpa-cima.com
US customers call 1-800-634-6780 (option 1)
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