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Planning for Your Client's Incapacity and New York’s New Power of Attorney

  • Accountant
  • AFSP
  • CRTP
  • CFP (US)
  • CPA (US)
  • CFA
  • EA
  • ORTP
  • CPA/PFS
  • TEP
  • ChFC
  • CSA
  • Maryland Tax Prep.
  • ERPA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CFIRS
  • CWS

Published: January, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Pre Need Planning
    4 mins
  • Health Care Proxy
    6 mins
  • Living Will
    15 mins
  • Power of Attorney
    17 mins
  • Capacity of the Principal:
    33 mins
  • Trust
    48 mins

Course Description

Incapacity, simply put, is the inability to make decisions for oneself. Incapacity can occur due to an injury (such as a car accident) or a health condition. “Planning for incapacity” refers to meeting with an attorney and preparing the legal documents which would be needed in the event an accident or illness left you without the ability to pay your bills, manage your finances or attend to other business and personal matters.

CPAs and Tax practitioners not only play a key role in financial management but also in planning after retirement. Especially inheritance and incapacitation planning is another key role that clients take help from qualified accountants and tax practitioners. It has been a glorified area of business practice that established practitioners looking to target. This webinar covers a bird’s eye view of the subject covering key aspects such as:

  • Medicaid / Eldercare
  • Estate Tax Planning
  • Power of Attorney, 
  • Health Care Proxy/Health Directive 
  • Living Will
  • Planning and management of documents and execution

In this online CPE webinar for CPAs, Elizabeth Forspan, Esq. will discuss the accountants, CPAs, and tax & legal practitioners’ key role in assisting their clients with planning for incapacity.

Learning Objectives

  • To know various incapacitation situation and importance of planning for it
  • To recognize the risks of failing to plan for the incapacitation
  • To understand the critical importance of a power of attorney
  • To learn the importance of a gifting authority in the power of attorney
  • To identify the importance of appointing someone to make health care decisions for your client in the event of incapacity

Recommended For

  • This Tax CPE webinar for CPAs is recommended for any professional or planner who works with clients on the retirement, estate or financial planning

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Certified Financial Planner
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Finance Pros
  • Legal Professionals
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Attorney
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Trust & Estate Specialist
  • Trust & Estate Tax Professional
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CE Credit of Qualified Retirement Plan Matters for Enrolled Retirement Plan Agent (Approval No. GEHNZ-Q-00668-21-S)
  • 1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00667-21-S)
  • 1 CPE Credit for Chartered Special Needs Consultant (ChSNC)
  • 1 CPE Credit for Chartered Financial Consultant (ChFC)
  • 1 CPE Credit for Chartered Advisor in Senior Living (CASL)
  • 1 CE Credit for Certified Senior Advisor (CSA)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0588)
  • 1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 1 CPE Credit for Financial Services Certified Professional (FSCP)
  • 1 CPD Credit of Estate Planning for Personal Financial Specialist (PFS)
  • 1 CPE Credit for Retirement Income Certified Professional (RICP)
  • 1 CPD Credit for Trust and Estate Practitioners (TEP)
  • 1 CPE Credit for Wealth Management Certified Professional (WMCP)
  • 1 CE Credit of Estate Planning for Certified Financial Planner (US) (Approval No. 292392)
  • 1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00667-21-S)
  • 1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00667-21-S)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 General Credit for Accountant/Bookeeper
  • 1 PL Credit for Chartered Financial Analyst (CFA)
  • 1 PL Credit for Certificate In Investment Performance Measurement (CIPM)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

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.

Presenter

About Presenter

Elizabeth Forspan

Accounting Manager, FORSPAN KLEAR LLP

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.

About Company

FORSPAN KLEAR LLP

www.forspanklear.com/

Forspan Klear LLP is a law firm with a focus on Wills & Trusts, Elder Law/Medicaid Planning, Special Needs Planning, High Net Worth Estate Planning, Probate and Estate Litigation. Serving NYC, Nassau, Suffolk, Rockland and Westchester. ATTORNEY ADVERTISING.


Faq

FAQs content

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Ratings and Review

4.4

41 Ratings

Excellent

21

Very Good

17

Average

3

Poor

0

Terrible

0

FC

Francis Celona, CFP (US), CPA (US)

Oct 23rd, 2021

Excellent presentation and content

MD

Michael Dayoub, CFP (US)

Aug 19th, 2021

Some good reminders to make sure my clients cover the bases on this.

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