ACCT 408 - Principles of Estate Planning

3 Credit(s)

This course provides an overview of estate taxation and planning. The course covers the types of property interests, including remainder interests and community property. It also provides an overview of the law pertaining to trusts, fiduciaries, and powers of appointment. The course focuses on the federal estate and gift tax system and discusses basic federal estate tax planning strategies, as well as computation of the estate tax liability. It also places emphasis on the special legal, business, and estate planning challenges presented by the privately-owned family business. The course considers the following legal and tax areas: (1) fundamental property ownership rules, (2) fiduciary duties owed by trustees and business partners, (3) estate and business planning opportunities for private business, (4) the use of limited liability companies and family limited partnerships in business planning, and (5) multi-level tax benefits of charitable giving.
Prerequisite(s): ACCT 105 and ACCT 205.