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PPC's Guide to Practical Estate Planning

PPC's Guide to Practical Estate Planning

Product Information

  • Frequency of Updates:

    Updated annually
  • Brand:
    Practitioners Publishing

Format

Price

Quantity

Book
2 Volumes
Product Code:
GEPP
$345.00

Contact Your Account Manager to learn more about our Checkpoint online solutions

Estate planning involves wealth transfer planning and numerous other nontax planning services. The changes made in the past few years will significantly impact the focus of estate planning. It's more important than ever to revisit your clients' existing estate plans. PPC's Guide to Practical Estate Planning can help you develop practical solutions to wealth transfer challenges.

This Guide covers:

  • Deciding between the portability election and bypass trusts
  • Maximizing the step-up in basis of assets
  • Advantages and disadvantages of lifetime giving
  • Elder care planning
  • Planning for incapacity
  • Beneficiary designations for qualified retirement plans and IRAs and life insurance policies
  • Creating family limited partnerships
  • Planning for retirement plan distributions
  • Charitable transfers
  • Advantages of creating lifetime trusts
  • Planning for the terminally ill client

Also included are numerous timesaving practice aids that show you what to look for when reviewing a will or trust instrument, how to perform a life insurance checkup, and how to determine the income tax consequences of property distributions from an estate.

Highlights of the Tax Cuts and Jobs Act (TCJA) coverage included in the 2018 edition of PPC's Guide to Practice Estate Planning:

  • Increased Gift and Estate Exclusion and GST Exemption Amounts. The 2017 Tax Cuts and Jobs Act (TCJA) doubled the basic exclusion amount for gifts made, or individuals who died, after December 31, 2017 and before January 1, 2026. The generation-skipping transfer tax exemption was also doubled. As a result, many individuals will no longer owe any federal transfer tax. All relative content and examples have been updated for the revised amounts.
  • Other TCJA Provisions. TCJA added a number of other provisions relative to wealth transfer planning and are covered throughout, including the following:
    • Section 529 can now make distributions for tuition to elementary and secondary schools.
    • The qualified business income deduction is available to trusts and estates and there may be some planning options to allow a greater deduction.
    • Allows nonresident aliens to be a potential current beneficiary of ESBT.
    • The limitation for certain charitable contributions has increased.
    • A basis reduction for mortality charges are no longer needed for life settlement transactions.
  • Restored Exclusion Available for Prior Transfers to Same-sex Spouse. If transfers were previously made to a same-sex spouse and that transfer resulted in a reduction of the donor’s available applicable exclusion amount or the GST tax exemption amount, there is a procedure to restore the exclusion amount used. The donor may recalculate the remaining applicable exclusion even if the statute of limitations has expired. A discussion has been added to this update.
  • Simplified Method for Extending Form 706 to Make the Portability Election. Numerous practitioners expressed concern about extending the time to make the portability election. The IRS responded by allowing a new simplified method for extending Form 706 to make the portability election on a nontaxable estate.

Additional substantive changes and additions are listed on this page under the Related Resources tab.

  • Practical Estate Planning
    • INTRODUCTORY MATERIAL
    • Chapter 1 A Systems Approach to Estate Planning
    • Chapter 2 Overview of Federal Estate, Generation-skipping Transfer, and Gift Taxes
    • Chapter 3 Lifetime Giving Strategies
    • Chapter 4 Wealth Transfer Planning Using Lifetime Trusts
    • Chapter 5 Wealth Transfer Planning without Trusts
    • Chapter 6 Transfers of Business Interests
    • Chapter 7 Charitable Transfers
    • Chapter 8 Valuation Issues
    • Chapter 9 Generation-skipping Transfers
    • Chapter 10 Life Insurance and Liquidity
    • Chapter 11 Retirement Plan Distributions
    • Chapter 12 Marital Transfers
    • Chapter 13 Elder Care Planning
    • Chapter 14 Incapacity and Terminally Ill Planning
    • Chapter 15 Postmortem Estate Planning
    • Chapter 16 Reviewing Wills, Trusts, and Other Documents
    • GLOSSARY
    • INDEX
      • --A--
      • --B--
      • --C--
      • --D--
      • --E--
      • --F--
      • --G--
      • --H--
      • --I--
      • --J--
      • --K--
      • --L--
      • --M--
      • --N--
      • --O--
      • --P--
      • --Q--
      • --R--
      • --S--
      • --T--
      • --U--
      • --V--
      • --W--
      • --Y--
  • List of Substantive Changes and Additions View

DESCRIPTION

Contact Your Account Manager to learn more about our Checkpoint online solutions

Estate planning involves wealth transfer planning and numerous other nontax planning services. The changes made in the past few years will significantly impact the focus of estate planning. It's more important than ever to revisit your clients' existing estate plans. PPC's Guide to Practical Estate Planning can help you develop practical solutions to wealth transfer challenges.

This Guide covers:

  • Deciding between the portability election and bypass trusts
  • Maximizing the step-up in basis of assets
  • Advantages and disadvantages of lifetime giving
  • Elder care planning
  • Planning for incapacity
  • Beneficiary designations for qualified retirement plans and IRAs and life insurance policies
  • Creating family limited partnerships
  • Planning for retirement plan distributions
  • Charitable transfers
  • Advantages of creating lifetime trusts
  • Planning for the terminally ill client

Also included are numerous timesaving practice aids that show you what to look for when reviewing a will or trust instrument, how to perform a life insurance checkup, and how to determine the income tax consequences of property distributions from an estate.

Highlights of the Tax Cuts and Jobs Act (TCJA) coverage included in the 2018 edition of PPC's Guide to Practice Estate Planning:

  • Increased Gift and Estate Exclusion and GST Exemption Amounts. The 2017 Tax Cuts and Jobs Act (TCJA) doubled the basic exclusion amount for gifts made, or individuals who died, after December 31, 2017 and before January 1, 2026. The generation-skipping transfer tax exemption was also doubled. As a result, many individuals will no longer owe any federal transfer tax. All relative content and examples have been updated for the revised amounts.
  • Other TCJA Provisions. TCJA added a number of other provisions relative to wealth transfer planning and are covered throughout, including the following:
    • Section 529 can now make distributions for tuition to elementary and secondary schools.
    • The qualified business income deduction is available to trusts and estates and there may be some planning options to allow a greater deduction.
    • Allows nonresident aliens to be a potential current beneficiary of ESBT.
    • The limitation for certain charitable contributions has increased.
    • A basis reduction for mortality charges are no longer needed for life settlement transactions.
  • Restored Exclusion Available for Prior Transfers to Same-sex Spouse. If transfers were previously made to a same-sex spouse and that transfer resulted in a reduction of the donor’s available applicable exclusion amount or the GST tax exemption amount, there is a procedure to restore the exclusion amount used. The donor may recalculate the remaining applicable exclusion even if the statute of limitations has expired. A discussion has been added to this update.
  • Simplified Method for Extending Form 706 to Make the Portability Election. Numerous practitioners expressed concern about extending the time to make the portability election. The IRS responded by allowing a new simplified method for extending Form 706 to make the portability election on a nontaxable estate.

Additional substantive changes and additions are listed on this page under the Related Resources tab.

TABLE OF CONTENT

  • Practical Estate Planning
    • INTRODUCTORY MATERIAL
    • Chapter 1 A Systems Approach to Estate Planning
    • Chapter 2 Overview of Federal Estate, Generation-skipping Transfer, and Gift Taxes
    • Chapter 3 Lifetime Giving Strategies
    • Chapter 4 Wealth Transfer Planning Using Lifetime Trusts
    • Chapter 5 Wealth Transfer Planning without Trusts
    • Chapter 6 Transfers of Business Interests
    • Chapter 7 Charitable Transfers
    • Chapter 8 Valuation Issues
    • Chapter 9 Generation-skipping Transfers
    • Chapter 10 Life Insurance and Liquidity
    • Chapter 11 Retirement Plan Distributions
    • Chapter 12 Marital Transfers
    • Chapter 13 Elder Care Planning
    • Chapter 14 Incapacity and Terminally Ill Planning
    • Chapter 15 Postmortem Estate Planning
    • Chapter 16 Reviewing Wills, Trusts, and Other Documents
    • GLOSSARY
    • INDEX
      • --A--
      • --B--
      • --C--
      • --D--
      • --E--
      • --F--
      • --G--
      • --H--
      • --I--
      • --J--
      • --K--
      • --L--
      • --M--
      • --N--
      • --O--
      • --P--
      • --Q--
      • --R--
      • --S--
      • --T--
      • --U--
      • --V--
      • --W--
      • --Y--

RELATED RESOURCES

  • List of Substantive Changes and Additions View