ENG2613. Estate Planning for the 99% (TAX, EST, PFP)

This session will cover the importance for those with estates under $15 million to have an estate plan. It will also cover key post-mortem tax elections available to small estate owners including the portability election, along with pertinent federal and state elections and planning when preparing the decedent's final income tax return and the first return for the estate or trust. Finally, we will cover the options when the decedent was a partner or shareholder of an S corporation at the time of death.

Learning Objectives:

• Gain an understanding of the numerous reasons why an estate plan is important for those, including estates under $15 million.
• Gain an understanding of post-mortem elections, including the mechanics of the portability election available for smaller estates.
• Gain an understanding of the various federal and state elections and planning opportunities when preparing the decedent's final income tax return and the first tax return for the estate or trust.
• Gain an understanding of selecting the options and elections to be considered when the decedent was a partner or shareholder in an S corporation.