Estate planning can be divided into two topics: planning prior to death (premortem, or “traditional” estate planning) and post-mortem. Premortem is primarily about planning while post-mortem is more about administration, although in both phases can CPAs are needed for planning. Elizabeth Forspan, Esq. of Forspan Klear LLP will discuss the key estate planning documents that individuals should have, with a heavy focus on advance directives and various types of testamentary trusts, including supplemental needs trusts. She will also review the current Federal estate Tax exclusion and some of the planning techniques that are now being utilized.
Major Topics Covered :
The Five Critical Planning Documents
Statutory Gifts Rider
Trusts
Revocable Trusts
IRC Section 121(a)
Section 121- Ownership Requirement
Annual Gift Tax Exclusion
Learning Objectives
To understand the purpose and importance of a Power of Attorney
To understand the critical importance of planning in the case there is a disabled child or family member in the family
To understand the implications of a failure to plan for one’s incapacity.
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary
MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
Elizabeth Forspan is the Managing Attorney of the law firm Forspan Klear LLP. Elizabeth’s areas of practice include Elder Care Planning, Estate Planning and Taxation. She regularly assists clients in achieving their Medicaid Planning goals in a tax efficient manner through practical and considerate planning techniques.
Elizabeth often lectures on various aspects of Elder Care Planning, Tax Law and Estate Planning. Elizabeth recently lectured on the Income Taxation of Trusts and Estates for the National Business Institute as well as Key Elder Care Planning Issues for the New York State Society of CPA’s Annual Estate Planning Conference in New York City. Elizabeth has also written and lectured extensively on the topic of Casualty Loss Deductions. Elizabeth co-authored the award winning cover article for the February 2013 edition of the CPA Journal entitled “Casualty Losses for Property Damaged by Hurricane Sandy.” In June of 2014, Elizabeth was the recipient of the prestigious Max Block Award for Outstanding Article in the Category of Technical Analysis, awarded by the New York State Society of Certified Public Accountants’ CPA Journal for her article on casualty losses.
Broad experience bringing clients cutting edge, business minded advice that is uniquely structured for your needs. Legal Approach With Compassion We help you navigate difficult issues with confidence and care in order to reduce stress and achieve optimal results. Attention to Detail We approach every project diligently and systematically to avoid surprises in the future.
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Testimonial
4.6
(785)
72%
23%
4%
1%
1%
LCD
Li-Chun C Do ,
Jun 14th 2020
The webinar was very interactive with a lot of information. She was great with the presentation of the content. I took every information and understanding about the agent's role in the healthcare proxy
PZ
Paul Ziemba ,
Jun 11th, 2020
The information covered regarding trusts and their tax implication was very exhaustive. I loved the detailing in the presentation and flawless experience. Recommendable platform myCPE.
LD
Laura Duarte ,
Jun 11th, 2020
Thank you for your passionate discussion and "anonymous" examples of what NOT to do. Everyone needs to hear this presentation. It is shocking that so many people still do not have their 5 main documents in hand to protect their families!
DF
David Flood ,
Jun 11th, 2020
The knowledge of the presenter was definitely more than expected. Ms. Forspan was not only a benefit for those not in the legal professions, but Ms. Forspan was also able to clarify how it affects the accountants who will or should work with the client to ensure their needs and wishes are met
JHL
Jin Ho Lee ,
Jun 11th, 2020
Elizabeth presents information in an efficient fashion and in terms that people can understand and create action items from. Very useful information. Even if you think you know this topic - this is a worthwhile learning experience.
DT
Daniel Thorson ,
Jun 11th, 2020
The very best estate planning one-hour webinar I have ever attended! I do a fair amount of tax preparation for estate and trust tax returns so I have attended many estate planning seminars and webinars!
