FIN 454 - Estate Planning

1. Describe types of property titling mechanisms, beneficiary designations, and when each is appropriate (G.54).
2. Identify methods of transferring property including key advantages, disadvantages, and when each is appropriate (G.55).
3. Identify common estate planning documents and their components, key party roles, and appropriate usage (G.56).
4. Identify gift, income, and estate tax consequences of lifetime transfers to individuals and charities and when a gift tax filing is necessary (G.57).
5. Determine the need for estate liquidity and the cash flows from death to final distribution including taxes (G.58).
6. Describe the uses, features, parties involved, operating terms, and tax consequences of revocable, irrevocable, living, testamentary, charitable, and non-charitable trusts (G.59).
7. Describe the appropriate use of the marital deduction for domestic and international spouses including the use of a qualified interest trust (G.60).
8. Recommend appropriate business transfer techniques including buy/sell agreements, grantor trusts, family limited partnerships or LLCs, or private annuities (G.61).
9. Describe postmortem estate planning techniques including alternative valuation dates, rules for a qualified disclaimer estate planning strategy, installment payments, stock redemptions, special-use valuations, elections against a will, and Qualified Terminable Interest Property (G.62).
10. Identify planning needs and strategies for marital status changes and non-married partners (G.63).
11. Identify savings vehicles, government benefits, and recommended planning strategies for special needs circumstances (G.64).