Incapacity and Postmortem Estate Planning

Overview

Incapacity planning is examined for practitioners looking to support clients as they navigate planning for this sensitive and challenging area of risk.

Highlights

Key Topics

• Incapacity planning
• Guardianship
• Powers of attorney
• Advanced medical directives
• Postmortem estate planning
• Estate and income tax returns
• Other state planning considerations

Prerequisites

Basic knowledge of the areas of personal financial planning (PFP)

Designed For

Who Will Benefit

• Financial Planners
• CPAs

Objectives

Learning Outcomes

• Determine the role and requirements of guardianship.
• Identify alternative arrangements to guardianship.
• Determine the potential role of insurance in addressing incapacity risk.
• Identify postmortem planning opportunities for elections on estate and income tax returns.
• Determine how valuations, deductible expenses, and disclaimers can reduce taxes for the decedent's estate and beneficiaries.
• Apply the use of redemptions and deferrals to postmortem estate planning for shareholders of closely held businesses.
• Identify estate planning implications for a U.S. citizen of having a noncitizen spouse.
• Determine estate planning considerations for blended families.