The death of a client does not bring an end to estate planning. Rather, post-mortem estate planning allows practitioners and beneficiaries to proactively shape the way an estate is treated for income, estate and gift tax purposes, and the way property is distributed. Through the use of a wide variety of elections, planners can respond to changed law and factual circumstances, errors in planning, and help reduce the tax liability of the estate. There are also crucial post-mortem choices to be made about a decedent’s retirement assets. This program will provide you with a practical guide to the many interrelated post-mortem planning choices available to planners, administrators and beneficiaries.
Post-mortem estate planning opportunities
Estate tax return –QTIP elections and relationship to GST tax traps, qualified domestic trusts, installment method, and alternative valuations
Retirement assets – inclusion in gross estate and beneficiary options
GST tax issues – allocation of exemption, reverse QTIP elections, relief from late elections
Beneficiary elections, including the use of disclaimers
Issues on a decedent’s final tax return – filing jointly or singly,medical expenses, and refunds
Income tax return of estate – Section 645 elections, separate share rules, tax year, state and local taxes
Robert Keebler is a partner with Keebler & Associates, LLP in Green Bay, Wisconsin, where his practice includes family wealth transfer and preservation planning, charitable giving, retirement distribution planning, and estate administration. He frequently represents clients before the National Office of the IRS in the private letter ruling process and in estate, gift and income tax examinations and appeals. CPA Magazine has named Mr. Keebler one of the Top 100 Most Influential Practitioners in the United States and one of the Top 40 Tax Advisors to Know During a Recession. Mr. Keebler received his B.A., cum laude, from Lakeland College and his Master of Taxation from the University of Wisconsin-Milwaukee.