Pre/Post-mortem Income, Estate Planning for the Terminally Ill

Overview

Tim Dreyer, a seasoned tax consultant with 50 years of experience, explores the evolving federal tax landscape as the TCJA approaches expiration. He discusses IRS enforcement shifts toward high-income individuals, small businesses, and crypto, critiques proposals like the Fair Tax Act, and reviews legislative efforts to streamline reporting and enhance taxpayer rights. Dreyer also highlights key risks for preparers under proposed Circular 230 revisions and strengthened disclosure requirements.

Highlights

• Getting your clients' affairs in order'asset ownership, avoiding probate, and beneficiary designations
• Coordinating the planning for gift, generation-skipping, estate, and income taxes using disclaimers and portability, QTIP, and QDOT elections
• Investment assets'which ones to sell and which ones to hold
• Retirement assets and tax bracket management

Prerequisites

None.

Objectives

• Determine how to help the client's family through the maze of decisions during this difficult transition
• Recognize the opportunities and mistakes that frequently occur during the client's final days
• Identify the wealth creation and preservation techniques best suited for your client's situation

Preparation

None.

Notice

This is a self-study/on demand course offered by a 3rd party vendor and will NOT be accessible in the My Upcoming CPE section of the ISCPA website. Course access information will be emailed directly to you by CalCPA. The course expires one year from the purchase date. Format = Online Self-Study.