Costly Pitfalls in Old Estate Planning Documents
Author: Klaralee R. Charlton
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2028 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Estate planning best practices have evolved significantly over the past two decades, yet many clients fail to update their estate plans, often assuming their documents still align with their wishes. However, outdated provisions can lead to unintended estate and income tax consequences, even when the overall distribution plan remains the same.
This course examines formerly standard estate planning provisions that may now create tax inefficiencies and explores strategies to modernize outdated documents. Participants will also learn how to minimize income tax liability when charitable beneficiaries are included in estate plans.
A foundational understanding of estate and fiduciary income taxation will be beneficial for attendees looking to refine their approach to estate planning and tax mitigation.
Publication Date: October 2025
Topics Covered
- Outdated Fiduciaries
- Charitable Beneficiaries
- Traditional AB Trust Planning for Estate Tax
- IRAs Payable to Trusts Post SECURE Act
- Minor Children Now All Grown Up
- Disable Beneficiaries
Learning Objectives
- State key tax law changes over the past 25 years and their impact on estate planning
- Identify outdated estate planning strategies and provisions that may lead to unintended tax consequences
- Recognize how to evaluate the importance of updating estate planning documents to align with current tax laws and best practices
- Recognize how to analyze potential tax savings that can be achieved by modifying an estate plan
- Identify estate planning techniques that optimize benefits under current estate and income tax rules
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
