Gain practical tools for managing the tax liability of the decedent and the estate and learn how to correctly complete and properly file all the necessary returns to make certain the estate closing is accurate and on time. Clarify all deadlines and request extensions. Enhance your estate administration practices - register today!
- Get an update on the current tax rates, exemptions and deductions.
- Understand when and how to report the tax basis of assets in estate administration.
- Learn when asset valuation is needed and how to conduct it properly.
- Get practical tips for completing the decedent's and estate's income tax returns.
This is a rebroadcast of the original webcast delivered by David L. Bindrup & T. James Lee on October 13, 2020. Faculty will be available to answer your questions after the program.
10:00 am to 5:00 pm Eastern Standard Time
- Current Tax Rates and Exemptions
10:00 - 10:30, David L. Bindrup
- Valuation of Assets
10:30 - 11:00, David L. Bindrup
- Tax Issues in Distributions to Minors and Trusts
11:00 - 11:30, David L. Bindrup
- Decedent's Final Income Tax Returns: Forms, Deadlines, Filing, Supporting Docs
11:45 - 12:15, T. James Lee
- Understanding Tax Basis and Step-Up at Administration
12:15 - 12:45, T. James Lee
- Estate's Income Tax Returns
12:45 - 1:15, T. James Lee
- Forms and Supporting Docs
- Tax on Income Earned by Estate After Decedent's Death
- Who Owns the Income at the Death of the Decedent?
- Deadlines and Filing
- Estate Tax: Portability, Elective Share, Disclaimers and More
1:45 - 2:15, T. James Lee
- Tax Basis Consistency and Reporting for Assets Received at Death
2:15 - 2:45, T. James Lee
- When is it Necessary to File and to Whom?
- Forms and Filing and Furnishing Requirements
- What Information Must be Included
- Strategic Valuation of Assets for Basis Reporting Purposes
- Beneficiaries Reporting
- Penalties for the Estate and the Recipient
- How the Generation-Skipping Transfer Tax Affects the Estate and the Heirs
2:45 - 3:15, T. James Lee
- Sales of Real Property
3:30 - 4:00, David L. Bindrup
- Legal Ethics
4:00 - 5:00, David L. Bindrup
- Attorney Fees and Engagement Agreements
- Guarding Confidentiality
- Data Security
- Fiduciary Liability Considerations
This estate administration course is designed for attorneys. Accountants, tax professionals and paralegals will also benefit.