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Estate & Financial Professionals.

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Estate Planning Essentials: Fed & Mass Issues (706 & M706)

June 6 @ 9:00 am – 1:00 pm

Join Todd in this exciting walk through of a Federal & Mass. estate.

The Tax Cuts and Jobs Act of 2018 introduced a variety of new planning opportunities. It is all about the basics. Massachusetts however continues to limit its exemption to $1,000,000.

In this program we will guide you through the proper preparation of Federal and State estate tax returns as well as any necessary gift tax returns including a discussion of the pros and cons of the portability election and how it works, the QTIP election for the state, and even the potential benefits of a Federal QTIP election coupled with gifting assets flush with basis by the surviving spouse to reduce the future Massachusetts estate tax. Finally, we will explore the recent Supreme Judicial Court decision in the Schaffer case showing how not making a federal

QTIP election, even without gifting by the surviving spouse, could lower the estate tax of the surviving spouse

Using a hypothetical example we will guide you through schedule by schedule the preparation of a Federal and Massachusetts estate tax return along with an explanation of the different estate planning techniques you may encounter when preparing these returns as well as whether they are included in the estate or not, such as revocable trust, irrevocable life insurance trusts (first and second to die variety), Medicaid income only trusts, Limited Liability Companies and much more with special attention paid to a Joint trust and application of Section 1014 (e) to the Trust and the possible double step-up in Basis through a combination of the federal QTIP election and portability. So sharpen your pencil and come to this hypothetical-packed session ready to “do the math.” 

  1. Filing Release of Liens, General Information & Elections
  2. Real Estate – Schedule A
  3. Stocks, Bonds –  Schedule B
  4. Mortgages, Notes, Cash – Schedule C
  5. Life Insurance –  Schedule D
  6. Joint Property – Schedule E
  7. Other Miscellaneous Property – Schedule F
  8. Lifetime Transfers – Schedule G
  9. Deductions, Admin. Expenses & Debts & Losses – J,K,L
  10. Bequests to Surviving Spouse – Schedule M
  11. Charitable Deductions – Schedule O 
  12. Generation Skipping Transfers – Schedule R
  13. Credits for Taxes on Prior Transfers – Schedule P and G
  14. Hypothetical Problem & Federal & State Computations in Detail
  15. Questions and Answers                                

Details

Date:
June 6
Time:
9:00 am – 1:00 pm
Cost:
$275
Event Category:
Certificate

Organizer

Todd Lusky, Esq., LL.M

Marriott Courtyard: Natick

342 Speen Street Natick
Natick, MA 01760 United States
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(508) 655-6100
View Venue Website

Event Navigation

  • « 2023 Trust Basics
  • Estate Planning – Intermediate/Advanced »

All Programs are Designed to Qualify for CPE Credit Under Rules Promulgated by the State Boards of Accountancy, State Bar Associations, IRS Director of Practice and the Institute of Certified Bankers.

Register for a Seminar

To Register for a seminar either call 978-468-6528 or download the registration form below.

2023 Reservation Form

Research Library Materials

  • Trust Basics “The Key to Understanding”
  • Estate Planning Essentials – 706 and M706
  • Income Taxation of Trusts & Estates
  • Massachusetts Medicaid Planning Survival Guide
  • Personal Development – “The Power of a Millionaire Mentality®” Your 10 Keys To Success

View More …

Millionaire Mentality

Programs

All Programs are Designed to Qualify for CPE Credit Under Rules Promulgated by the State Boards of Accountancy, State Bar Associations, IRS Director of Practice and the Institute of Certified Bankers.

IRS Approved Training Vendor

Get In Touch

Any questions, comments or address changes, please mail them to FCE at :
64 Pleasant Street,
PO Box 458,
Wenham, MA 01984

Registration and Conference Center:
Tel. 978-468-6528 *
Fax: 978-468-2573

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