Knowing the basics of advanced estate planning strategies is essential in advising clients with significant wealth and seek assistance in developing succession plans to address individual needs. Review transfer and income tax laws, plus available strategies to minimize taxes.
Also, discuss the basic structure of advanced strategies, provisions in the governing document that authorize and regulate these strategies, modeling and tracking spreadsheets and software options. To illustrate the concepts discussed, experience a live demonstration of financial planning software, run modeling exercises and review examples of sophisticated estate and business planning scenarios.
- Determine client transfer and income tax projections and the need for advanced planning.
- Identify the pros and cons of various strategies.
- Recognize and use different advanced estate planning strategies.
- Calculate and project results for particular advanced strategies.
- Identify modeling scenarios for individual client needs.
Level of Difficulty:
- A review of the current estate planning environment.
- Estate planning changes that impact a client's estate plan.
- QPRTs, GRATs, IDGTs and variations of these strategies.
- Client presentation preparation.
- Helpful tools to monitor and evaluate process and performance.
- How to build flexibility into strategies to respond to changing circumstances.
An understanding of the basics of transfer and succession planning.
CPAs, attorneys, investment advisers and fiduciaries.