CPE: 3 hours
Prerequisites: Basic knowledge of the areas of estate planning.
Advanced prep: None
Who should attend: Financial planners preparing for the PFS exam or who need a refresher on PFP skills
This session addresses gift, estate, and generation skipping transfer taxes at both the state and federal levels. Charitable planning is also explored, with a review of various vehicles and trusts which have been created: lead trusts, remainder trusts, pooled income funds, private foundations and charitable gift annuities. Non-tax aspects of estate planning, including the estate planning process, wills, trusts, durable powers of attorney, powers of appointment, and probate procedure are also studied.
- Describe the unification of the estate tax and gift tax systems
- Identify the applicable credit for estate tax, and gift tax purposes
- Explain the requirements for use of the annual exclusion for gift tax purposes