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PMIC
ESTATE AND LIFE PLANNING ISSUES FOR THE MIDDLE-INCOME CLIENT
Clients think that estate planning only applies to the very rich. In truth, there are many issues of critical concern for which the middle-income client needs to plan. This course is a must-attend for all CPAs who work with middle-income clients and are looking for ways to provide additional quality services.
Major Topics:
- More than 20 documents that should be reviewed that are neither a will nor trust
- Identifying inheritance and death tax states, applicable rates, and tactics that may be used to minimize them
- Reducing the impact of ancillary administration
- Provisions you need in a will
- When a trust is needed for children
- Durable powers of attorney, for financial matters and for health care
- Asset protection strategies: upsides and downsides
- Management of insurance: umbrella liability, disability, and life
- Sample documents that can facilitate loans to children
- Dealing with marriage and divorce
- Titling assets effectively
- Avoiding the loss of capital and passive losses at death
- Elder care planning
Learning Objectives:
- Understand estate-planning issues unrelated to federal tax planning
- Be able to inventory the documents relevant to estate preservation
- Understand methods of providing for children and the spouse
Designed For: CPAs who advise clients on estate planning
Level of Knowledge: Basic
Prerequisite: None
Advanced Preparation: None
CFP: No
Yellow Book: No
New: Yes
Field of Study: Taxes
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