Postmortem Estate Planning: Navigating Decedent's Estate Issues

Overview

In the ever-evolving field of estate planning, addressing complex issues that arise after a client’s death is essential. Postmortem estate planning plays a critical role in managing key elements like the decedent’s estate tax return, final income tax return, estate income tax return, and heirs’ financial planning. This course provides practitioners with the tools and insights necessary to navigate after-death planning issues and efficiently handle the administration of a decedent’s estate.

Participants will gain a comprehensive understanding of crucial topics such as alternative valuation dates, QTIP elections, basis complexities, and income tax issues. Through this course, professionals will be equipped to provide strategic postmortem planning advice, optimizing benefits for the estate and its beneficiaries.

Objectives

At the end of this course, you will be able to:

Recognize planning issues that arise when handling the estate of a decedent.

Apply the alternative valuation date and assess its implications.

Explain the role of portability in estate tax planning.

Identify opportunities for and requirements of installment payments for estate taxes.

Utilize QTIP elections effectively under IRC 2056(b)(7).

Implement qualified disclaimers in postmortem planning.

Navigate income and deductions in respect of a decedent (IRD).

Handle the decedent's final income tax return and optimize tax savings.

Highlights

Alternative valuation date: implications and application

Portability and its role in estate tax planning

Installment payments of estate taxes: opportunities and requirements

Strategic use of QTIP elections under IRC 2056(b)(7)

Qualified disclaimers and their benefits

Basis issues in postmortem planning

Decedent's final income tax return and payment of estimated taxes

Managing medical expenses and administrative expenses efficiently

Sixty-five-day rule election: utility and requirements

Income and deductions in respect of the decedent (IRD) and its implication

Designed For

CPAs, EAs, attorneys, financial planners, insurance agents, and bankers

Prerequisites

Basic understanding of estate planning

Preparation

None

Notice

By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Arthur Werner, President, Werner-Rocca Seminars, Ltd.

Leader Bios

Arthur Werner, President, Werner-Rocca Seminars, Ltd.

Arthur Joseph Werner, JD, MS (Taxation), is the president and is a shareholder in the lecture firm of Werner-Rocca Seminars, Ltd. Mr. Werner’s lecture topic specialties include business, tax, financial and estate planning for high net worth individuals.

In addition, Mr. Werner is a former adjunct professor of taxation in the Master of Science in Taxation program at the Philadelphia University.

Mr. Werner received his B.S. in Accounting and his M.S. in Taxation from Widener University. He holds a J.D. in Law from the Delaware Law School.

Mr. Werner lectures extensively in the areas of Estate Planning, Financial Planning, and Estate and Gift Taxation to Certified Public Accountants and Financial Planners and has presented more than 3000 eight-hour seminars over the past twenty-five years as well as numerous webinars and video presentations. Mr. Werner has been rated as having the highest speaker knowledge in his home state of Pennsylvania by the Pennsylvania Institute of Certified Public Accountants, was awarded the AICPA Outstanding Discussion Leader Award in the State of Nevada, the Florida Institute of CPAs Outstanding Discussion Leader Award, and the South Carolina Association of CPAs Outstanding Discussion Leader Award.

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