ENG2521. Estate Planning for the 99% of Us (TAX, EST)

This session will look at why estate planning is critical for the modest estate owner and review post-mortem tax, administrative and fiduciary elections with an emphasis on the portability election vs. conventional credit shelter trust planning. We will also walk participants through the process of filing the decedent's final income tax return, relevant elections and look at the issues when the decedent was a partner in a partnership or S corporate shareholder at the time of death.

Learning Objectives:

• Understanding the numerous reasons why planning is critical for those with estates under $13 million and how planning could be impacted under the new administration.
• Understanding and advising clients on the various post-mortem tax elections, and why the portability election could be a game changer.
• Understanding the various elections available when filing the decedent's final income tax return, including business elections when the decedent was a partner or S corporation shareholder.