Covers the objectives of estate planning, and considerations related to tax elections and options when there is no will or an inadequate will. Describes elections to consider for the decedent’s final income tax return and key fundamentals regarding the fiduciary income tax return. Identifies the apportionment clauses under the decedent’s estate planning documents. Explains how to apply strategic tax saving factors when filing an estate tax return.
What You’ll Learn:
- Describe the purpose and benefits of post-mortem estate planning
- Recognize the practices and elections an executor should consider for the decedent’s final income tax return
- Identify the key fundamentals when completing the fiduciary income tax return
- Determine the strategic tax saving factors to consider when filing estate tax returns
- Consider apportionment decisions when an estate plan is absent or inadequate