ENG2304. Planning Nuggets for CPAs (EST, TAX, PFP)

This course will review creative practical planning strategies for use with a wide range of clients from very wealthy to more moderate wealth. How to structure a note sale transaction to better withstand an audit? How to use a Wandry clause without risking an estate inclusion challenge to all entity interests under Powell argument. How to plan ownership of FLP and LLC interests to avoid estate inclusion using a special voting membership interest. Prioritizing allocation of GST exemption on gift tax returns for multiple trusts. For smaller clients evaluate options for existing credit shelter trusts. Creative use of a multipurpose ILIT to accomplish a range of goals in a cost effective manner for smaller clients. A host of other planning tips will cover a wide range of planning considerations for all types of clients with a focus on a value add role the CPA can play.

Learning Objectives:

• Learn practical planning tips for enhancing note sales, retained interest, Powell challenges and other issues for complex plans.
• Learn practical tips to use to enhance estate planning for more moderate wealth clients including basis step up, income tax planning and more.