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Description
Provide financial planners with essential knowledge about how death-related taxes (federal estate taxes, state inheritance taxes, and basis step-up rules) affect wealth transfer strategies. Planners will learn how to spot tax exposure, coordinate with estate planning professionals, and identify proactive steps that can minimize tax burdens for high-net-worth and middle-income clients alike.
Learning Objectives
- Differentiate between federal estate tax and state-level inheritance and estate taxes, including current exemption thresholds and tax rates applicable to client planning.
- Explain the impact of the step-up in basis at death and apply tax-smart strategies to preserve capital gains benefits and avoid common gifting pitfalls.
- Evaluate estate planning tools and techniques such as the use of trusts, lifetime gifting, portability elections, and charitable contributions to help clients minimize exposure to death taxes.