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.

Prerequisites

None

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

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