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Post-Mortem Estate Planning

Gain an understanding of how income tax and estate planning are affected once a client passes away.

Attorneys for fiduciaries of estates and testamentary trusts must provide proper advice to their fiduciary clients. In addition, the fiduciary client and the beneficiaries of the estate or trust expect that the attorney will be able to save them taxes or headaches in the future. This topic will give the fiduciary the vocabulary, and tools, to limit their liability and defer taxes of the estate or trust. It will also help beneficiaries of the estate or trust who may be unfairly impacted by unexpected events, tax laws, or poor or thoughtless estate planning by the decedent. This material will also aid the practitioner with tools for dealing with estates with cash liquidity issues.

55 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Requesting Prompt Assessment and Discharge of Personal Responsibility of Fiduciary

  • Discharge of Liability for Taxes by
    • Executor
    • Fiduciary Other Than Executor
  • Discharge of Gift Tax Liability

Renunciations and Disclaimers

  • Why and When to Use Disclaimers
  • Types and Purposes of Disclaimers
  • What Constitutes a Disclaimer?
  • Partial Disclaimers
  • Use of Property Transfers as Qualified Disclaimers

Waiver of Fee by Fiduciary

  • Why and When to Use
  • Pitfalls

Fiduciary Tax Returns

  • Deferral Through Staggered Years
  • Fiduciary Return Estimated Payments
  • Administration Expenses as Deductions of Fiduciary Income Tax Return
  • Termination of the Probate Estate
    • Timing
    • Carryover Deductions
    • When an Estate Is Deemed to Have Ended
  • Requestion Valuation Information From the IRS

Liquidity Issues

  • Corporate Stock Redemptions
  • Elective Deferrals to Pay Estate Taxes With Respect to Small Businesses
  • Extensions to Pay on Estate Tax on Value of Reversionary or Remainder Interests
  • Alternate Valuations
  • Special Use Valuations

The Spouse

  • Election Against Will
  • Decedent Spouse Unused Exemption Amount (DSUE)
  • QTIP Elections
  • Splitting Gifts Between Executor and Surviving Spouse
  • Qualified Domestic Trusts

Elections Affecting S Corporations

  • Who May Own S Corp Stock?
  • Qualified Subchapter S Trusts and Its Election
  • Electing Small Business Trusts and Its Elections
  • Practitioner Considerations
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More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

MP3 Download

  • AK CLE 0.75
     
  • Arizona CLE 0.75
     
  • CA MCLE 0.75
     
  • CT CLE 0.5
     
  • MO CLE 1.1
     
  • NJ CLE 1.1
     
  • NY CLE 1.0 including Areas of Professional Practice 1
     
  • WA CLE 1.0
     
  • WV MCLE 1.1
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on November 29, 2021.

Call 1-866-352-9540 for further credit information.

  • AK CLE 0.75
     
  • Alaska attorneys may receive 0.75 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • AL CLE 0.9
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 0.9 hours credit.
     
  • Arizona CLE 0.75
     
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 0.75 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 0.75
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 0.75 CLE hours of participatory credit.
     
  • CT CLE 0.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 0.5 CLE credit(s).
     
  • IL CLE 0.75
     
  • This course was approved for a total of 0.75 hours of MCLE Credit by the Illinois MCLE Board.
     
  • MN CLE 0.75
     
  • This program has been approved by the Minnesota Board of Continuing Legal Education for 0.75 hours of credit.
     
  • MO CLE 1.1
     
  • This course qualifies for self-study CLE credit in Missouri.
     
  • ND CLE 1.0
     
  • North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hours of CLE credit.
     
  • NH MCLE 0.9
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 54 Minutes.
     
  • NJ CLE 1.1
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.1 hours of total CLE credit.
     
  • NY CLE 1.0 including Areas of Professional Practice 1
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, LLC. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • RI CLE 1.0
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
     
  • TN CLE 0.9
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 0.9 hours of credit.
     
  • UT CLE 0.5
     
  • This program has been approved by the Utah State Board of Continuing Legal Education for 0.5 CLE hours.
     
  • WA CLE 1.0
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of A/V credit under the Law & Legal Procedure category.
     
  • WI CLE 1.0
     
  • This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
     
  • WV MCLE 1.1
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.1 MCLE hours.
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York. Other states do not need to supply the CLE Code to apply for CLE credit.

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Antar P. Jones, Esq. LL.M.

Antar P. Jones, Esq. LL.M.

The Law Office of Antar P. Jones, PLLC

  • Founder of The Law Office of Antar P. Jones, PLLC, located in Brooklyn, New York
  • Practice includes advising fiduciaries and successful individuals concerning the administration of estates, trusts, and the income and estate taxation matters affecting them
  • Appointed over 70 times as guardian ad litem with respect to decedents’ estates in the State of New York
  • Published "Providing Capital to Entities or Individuals That Go Bust" on Complinet.com, a website owned by Thomson Reuters
  • Received an acknowledgment for his work on the textbook, Corporate Finance and Governance, Jeffrey J. Haas, Carolina Academic Press (3d ed. 2006)
  • Has presented at dozens of speaking engagements on taxation and trusts, and estates matters
  • Co-chair of the Surrogate’s Court Committee at the Brooklyn Bar Association
  • Adjunct Professor of Law at New York Law School and teaches a course on the income taxation of estates and trusts
  • LL.M. degree in taxation, graduate program in taxation, New York Law School
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More Program Information

Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 409499
Published 2021
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