Description
Note: This course was previously titled Gift Taxation.
Illustrates how to compute the gift tax, identifies who is liable to pay gift tax, and the impact of gift taxation on powers of appointment. Explores the benefits of a lifetime gift program and disadvantages of lifetime gifts. Demonstrates shifting income with gifting, and options for adults to retain control of property transferred to a minor. Emphasizes the importance of the marital deduction in estate planning.
What You’ll Learn
After completing this course, students will be able to:
- Describe the basics of gift taxation
- Explain the exclusions and gifting options
- Describe the rules and advantages of the marital deduction
