Common Estate Planning Mistakes and How to Avoid Them (Currently Unavailable)

Author: Steven G. Siegel

The pandemic has created a greater urgency for people at all levels of wealth to address estate planning issues. Plans need to be prepared carefully to address issues including family needs, probate and taxes. This course will address the mistakes that clients typically make and that planners sometimes ignore or fail to consider. It will offer solutions and suggestions on the best ways to avoid these mistakes.

Publication Date: March 2021

Topics Covered

• Failure to Plan
• Outdated Planning
• Portability
• Collectibles and tangible assets
• Life insurance policy
• Retirement plan designations
• Real estate planning
• Executors, trustees and guardians
• Divorces and pre”marital agreements
• Generation”skipping tax
• Charitable contribution rules
• Business owners
• Grantor trusts
• Minimizing income taxes of trusts
• Other mistakes to avoid

Learning Objectives

• Recognize the complexity of planning issues and why clients need to address them
• Identify and apply specific suggestions about how to improve retirement plan and life insurance beneficiary designations
• Describe protective arrangements for client assets
• Differentiate types of trusts and how they should be considered
• Recognize how to become an effective advisor for clients and their tax and estate planning needs
• Identify mistakes most clients make regarding estate planning
• Identify the annual exclusion with respect to gifting
• Recognize the fee amount that will be incurred in 2021
• Identify the age for minimum required distributions
• Describe one of the powers of a grantor

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None