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.
Who Should Attend
This estate administration course is designed for attorneys. Accountants, tax professionals and paralegals will also benefit.
Current Tax Rates and Exemptions
Valuation of Assets
Tax Issues in Distributions to Minors and Trusts
Decedent's Final Income Tax Returns: Forms, Deadlines, Filing, Supporting Docs
Understanding Tax Basis and Step-Up at Administration
Estate's Income Tax Returns
Estate Tax: Portability, Elective Share, Disclaimers and More
Tax Basis Consistency and Reporting for Assets Received at Death
How the Generation-Skipping Transfer Tax Affects the Estate and the Heirs
NBI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.This program is designed to qualify for 7.0 hours (based on 50 minute credit hour) of continuing professional education credit for accountants. For more information regarding administrative policies such as complaint, refund and program cancellation, please contact our offices at (800) 930-6182.
This is an Intermediate level program presented in a group internet-based setting. Accountants should have a basic understanding of how to manage the tax liability of the decedent in estate administration. No advanced preparation is required.Upon completion of this course, attendees should be able to: 1. Recall current estate tax exclusion amount. 2. Explain why valuation of assets is important in estate administration. 3. Summarize the tax consequences of distribution to a trust. 4. Provide two examples of decedent's tax forms and supporting documents. 5. Provide the definition of tax basis of assets. 6. List at least two tax forms necessary report the estate's taxes. 7. Describe how estate tax portability works. 8. Explain what the recent estate tax basis consistency reporting rule entails. 9. Provide an example of when GST tax applies. 10. State who can sell property in estate administation. 11. Provide at least one example of unethical behavior in estate administration practice.Field(s) of Study -- Taxes; Regulatory Ethics.
DAVID L. BINDRUP is the managing partner at David Bindrup Law Firm, PLLC, where he oversees a team of attorneys and CPAs. He practices solely in the areas of estate planning, business planning, asset protection, and probate; has three Nevada offices; and he is also a certified public accountant licensed in California and Nevada. Mr. Bindrup uses his considerable experience in the planning and implementation of sophisticated, state-of-the-art estate, asset protection, and business planning strategies for estates and probates of all sizes. He has frequently been asked to speak in the areas of estate planning, asset protection planning, and probate. Mr. Bindrup earned his B.A. degree, cum laude, from Brigham Young University; and his J.D. degree from the Thomas Cooley School of Law; and LL.M. degree (in taxation) from the Thomas Cooley School of Law.
T. JAMES LEE is a shareholder and director in the Phoenix office of Fennemore Craig, P.C., and chairs the firm’s private wealth preservation (trusts and estates) practice group. He is certified as a trust and estate specialist by the State Bar of Arizona, and practices in the areas of estate planning, trust and estate administration, charitable giving, business design and structuring, international taxation, and commercial transactions. Mr. Lee is a member of the American Bar Association, the Utah State Bar, the ABA's Committee on Estate and Gift Taxes (Taxation Section), and is a fellow of the American College of Trust and Estate Counsel (ACTEC). He earned his undergraduate degree in business management from Brigham Young University, with distinction as the top business school graduate in the area of entrepreneurship. He graduated, with honors, from the J. Reuben Clark Law School at BYU.
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