2024 Comprehensive Estate Planning: Administration & Postmortem Strategies

Overview

Navigating the complexities of estate and trust administration is a vital skill for professionals, who play an integral role in the administration team. This comprehensive course is designed to equip professionals with a thorough understanding of their responsibilities and the processes involved in estate administration, enhancing their ability to address estate settlement issues effectively. Participants will be provided with a detailed overview of the professional’s role in estate and trust administration, emphasizing practical insights and strategies for managing assets, addressing the legitimacy of debts and creditors, and ensuring the proper distribution of assets.

**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Highlights

Introduction to Estate Administration
How to Read a last will and testament
Understanding the Entities
Administration the Estate and Orderly Process
The Probate process and the courts
Special Issues in Estate Administration
Postmortem Issues Regarding Income Taxation of Descendants and Estates
Post Mortem Opportunities on the Estate Income Tax Return
Available Post Mortem Estate Tax Elections
Portability Election
Disclaimers

Prerequisites

None

Designed For

CPAs, EAs, and attorneys

Objectives

Recognize the key elements of Estate Administration
Identify the terms of a last will and testament
Recognize the differences between the various entities
Identify the estate administration procedures
Recognize the issues in the probate process and the courts
Identify special issues in the estate administration process
Recognize key considerations in postmortem estate planning for effective client guidance
Describe the implications of alternative valuation dates on estate tax planning
Discuss strategies for optimizing savings bond interest acceleration in estate planning
Identify opportunities and requirements for installment payments of estate taxes
Explain the strategic use of QTIP elections under IRC §2056(b)(7)
Analyze basis issues in postmortem planning to maximize tax benefits
Discuss the implications and process of estate fiscal year and accounting method elections
Apply planning considerations for qualified plans and IRAs to enhance client outcomes