Surgent's Basic Estate Administration for CPAs and FAs
2.00 Credits
Member Price $99
Non-Member Price $119
Overview
Some CPAs & FAs might focus on estate administration; however, many more will come across this through routine work with a client. This course provides an overview of how you can help to administer an estate. It includes a checklist of tasks and an overview of what each entails. This webinar covers minor points such as what information you’ll need to collect and when to get an EIN. It also covers substantial discussions of essential topics, such as developing an inventory, estate accounting, allocating income between Form 1040 and form 1041, and filing your client’s final Form 1040.
Highlights
- Legal principles and definitions
- Trust accounting issues
- Working closely with legal counsel proactively in the best interest of the client
- Property law concepts
- Complex community property issues
- Filing special forms: Form SS-4, Form 56, Form 4810, and Form 5495
- Executor checklist
- The basics of filing a Form 1041 for an estate or non-grantor trust
- Filing a final Form 709
- The basics of filing Form 706
- Understanding 706 elections
- Understanding Estate Valuations, including GST and portability
- Special considerations for IRAs and ERISA plans
- When to make Section 454 elections
- When to make Section 754 elections
- Understanding the fine points of basis
- S corp issues
- Partnership and LLC considerations
- Passive loss carryforwards and estates
- Fiscal year elections
- 65-day election for trusts and estates
- Tax aspects of pecuniary and specific bequests
Prerequisites
None
Designed For
Any CPA or FA who wants to become familiar with the basic aspects of estate administration
Objectives
- Name legal principles and definitions essential to estate planning
- Identify best practices for working closely with legal counsel
- List main property law concepts
- Identify complex community property issues
- Determine best methods for filing special forms: Form SS-4, Form 56, Form 4810, Form 5495
- Arrange an executor checklist
Preparation
None
Leader(s):
Leader Bios
Robert Keebler, Surgent McCoy CPE, LLC
Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA is a partner with Keebler & Associates, LLP and is a 2007 recipient of the prestigious Accredited Estate Planners (Distinguished) award from the National Association of Estate Planners & Councils. His practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration. He is the author of over 100 articles and columns and is the editor, author or co-author of many books and treatises on wealth transfer and taxation.
Non-Member Price $119
Member Price $99