Estate Tax Elimination (working title) Webcast | 4204314B

Friday, September 18, 2020
Webcast or Webinar, Online
1:00 PM - 3:00 PM(opens at 12:00PM) EST
2Credits
Technical Business

Registration is Closed

Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.

Members
$75.00 Regular Price
Non-Members
$101.00 Regular Price
Course Type: Webcast
Course Code: 20/4204314B
Level: Intermediate
Vendor: California CPA Education Foundation
Field of Study: Taxes

Overview:

The estate tax is voluntary. There is no reason for anyone's heirs to pay it. Those who fail to plan; plan to fail. The tools needed to reduce the taxable estate to zero are readily available. In 1977 Columbia Law Professor George Cooper wrote an article for the law review entitled "A Voluntary Tax? New Perspectives On Sophisticated Estate Tax Avoidance." In 42 years nothing has changed. Eliminate the need to pay a 40% estate tax and undergo an estate tax audit. Examine California's proposed 22% estate tax for estates over $5,490,000. We'll examine common situations involving real estate, closely held businesses, and highly liquid portfolios.

Objectives:

Upon completion of the course the attendee will recognize the following estate planning techniques: usage of a private annuity generational split dollar life insurance SCIN-GRATs family limited partnerships and the other tools used to get an estate to zero

Major Topics:

The continuous need to file IRS Form 709 as you whittle the estate down to zero The different aspects of private annuities, including the exhaustion ratio The use of family limited partnerships to gain valuation discounts and to eliminate property tax reassessment on the surviving parent's death The use of SCIN-GRATs in combination; the use of GSD The use of a children's trust as a tool for the parents to remain in control

Designed For:

This course is designed for CPAs who wish to guide their clients away from mere estate tax reduction to the Nirvana of estate tax elimination. The techniques are easy enough to understand. Mastering the techniques, of course, only comes with repetition.

Prerequisite:

An understanding of the general features of the estate and gift tax