CPAs are comfortable dealing with one of the two certain things in life, but are not
necessarily ready to deal with other certainty aside from taxes and death. When a
client dies, the CPA is most often placed in the position of assisting the survivors
in handling all of the various issues of the decedent’s estate. This course looks at
the various roles and issues a CPA will need to understand in assisting the survivors
following a death.
DESIGNED FOR
CPAs in public practice and those assisting with decedents’ estates. May also be
suitable for public practice.
BENEFITS
- Counsel survivors regarding issues arising following the decedent’s passing
- Handle issues involved with dealing with trusts arising from the estate
- Handle estate/trust accounting under the applicable principal and income act
- Deal with post-death estate tax issues, including portability, disclaimers, and estate tax returns
- Recognize state income tax issues arising from an estate and related trusts
- Understand the exposures a CPA faces when advising survivors
HIGHLIGHTS
- The key players in a decedent’s estate
- Steps and issues in the probate of the estate
- Administrative trusts (the post-death revocable living trust)
- Testamentary trusts (definition, funding issues, etc.)
- Estate accounting — a state’s Uniform Principal and Income Act
- Estate tax returns (federal and state)
- Income taxation of a decedent's estate
- Identifying estate income tax deductions still allowed and no longer allowed after the Tax Cuts and Jobs Act
- State complications of estates — jurisdiction and taxation
- Assisting the survivors
COURSE LEVEL
Intermediate
PREREQUISITES
None
ADVANCE PREPARATION
None
ADDITIONAL NOTES
Course materials are distributed electronically. To access the materials visit
My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.