{"product_id":"estate-planning-isbn-9781119157120","title":"Estate Planning","description":"\u003cb\u003ePlan ahead: estate planning to secure your wishes\u003c\/b\u003e \u003cp\u003e\u003ci\u003eEstate Planning\u003c\/i\u003e is your overview of the estate planning concepts that are necessary to consider when advising your clients about the different facets of wealth transfer planning. This fundamental reference presents the basic estate, gift, and trust planning ideas in a descriptive and accessible manner—allowing you to easily and conveniently access the information you need when you need it. This essential text covers the development of estate planning strategies for your clients, the fundamentals of the federal transfer tax system, relevant federal income tax rules, lifetime donative asset transfers, gratuitous property transfers at death, generation-skipping transfers, special property transfer planning considerations, and post-mortem planning. \u003c\/p\u003e\u003cp\u003eWhen done effectively, estate planning enables your clients to make both lifetime and testamentary transfers of assets to beneficiaries of their choice. In the process, strategic, successful estate planning strategies conserve wealth for these beneficiaries, who are often family members of the client. Leveraging the right methods of estate planning can ensure that you achieve your client's objectives. \u003c\/p\u003e\u003cul\u003e \u003cli\u003eExplore the fundamentals of estate planning as they relate to wealth transfer planning\u003c\/li\u003e \u003cli\u003eDive into special property transfer planning considerations, including community property, life insurance, charitable transfers, closely held corporations, etc.\u003c\/li\u003e \u003cli\u003eBetter serve your clients by having access to relevant, easy to navigate information on estate planning best practices\u003c\/li\u003e \u003cli\u003eReinforce these new ideas with a comprehensive test bank\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003eEstate Planning\u003c\/i\u003e is your guide to estate planning concepts that help you protect your assets during wealth transfer—and prepare for your assets to change hands as smoothly as possible. \u003c\/p\u003e\u003cp\u003eAbout the Author ix\u003c\/p\u003e \u003cp\u003eIntroduction 1\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Estate Planning Objectives 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNotes 5\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Inventory of the Client’s Assets and Objectives 9\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA. Scope of Factual Analysis 9\u003c\/p\u003e \u003cp\u003eB. Family 9\u003c\/p\u003e \u003cp\u003eC. Assets and Liabilities 10\u003c\/p\u003e \u003cp\u003eD. Cash Flow Analysis 11\u003c\/p\u003e \u003cp\u003eE. Present Objectives for Estate Disposition 11\u003c\/p\u003e \u003cp\u003eNotes 12\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Preliminary Estate Planning Considerations 15\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA. Expanded Responsibilities of the Professional Tax Advisor 15\u003c\/p\u003e \u003cp\u003eB. Facilitating Lifetime Capital Formation 16\u003c\/p\u003e \u003cp\u003eC. Fundamental Federal Income Tax Planning 17\u003c\/p\u003e \u003cp\u003eD. Managing and Structuring the Closely Held Business Ownership: Family Business Succession Planning 18\u003c\/p\u003e \u003cp\u003eE. Additional Important Preliminary Planning Inquiries 19\u003c\/p\u003e \u003cp\u003eF. Financial Adequacy of the Estate 22\u003c\/p\u003e \u003cp\u003eG. Hypothetical Probate Administration 23\u003c\/p\u003e \u003cp\u003eH. Lifetime Asset Management 23\u003c\/p\u003e \u003cp\u003eNotes 24\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 The Basic Federal Transfer Tax and Income Tax Structure 29\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA. Estate, Gift, and Generation‐Skipping Transfer Taxes 29\u003c\/p\u003e \u003cp\u003eB. Related Federal Income Tax Considerations 45\u003c\/p\u003e \u003cp\u003eNotes 52\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Fundamental Testamentary Planning 81\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA. Basic Mechanisms for Transferring Property 82\u003c\/p\u003e \u003cp\u003eB. Trusts 94\u003c\/p\u003e \u003cp\u003eC. Credit Shelter Trust 112\u003c\/p\u003e \u003cp\u003eD. Estate Tax Marital Deduction Transfers 114\u003c\/p\u003e \u003cp\u003eE. Powers of Appointment 158\u003c\/p\u003e \u003cp\u003eNotes 167\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Lifetime Asset Transfers 223\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA. Lifetime Gifts—Arguments for and Against 223\u003c\/p\u003e \u003cp\u003eB. Basic Federal Tax Considerations 225\u003c\/p\u003e \u003cp\u003eC. Methods of Completing Gifts 232\u003c\/p\u003e \u003cp\u003eD. Specific Types of Gifts 234\u003c\/p\u003e \u003cp\u003eNotes 255\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Intrafamily Transfer Alternatives to Gifts 285\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA. Intrafamily Sale\/Leaseback or Gift\/Leaseback 286\u003c\/p\u003e \u003cp\u003eB. Intrafamily Installment Sales 287\u003c\/p\u003e \u003cp\u003eC. Interest-Free Loans of Money 293\u003c\/p\u003e \u003cp\u003eD. Loans of Property or Credit 297\u003c\/p\u003e \u003cp\u003eE. Tax-Free Property Exchanges with Family Members 298\u003c\/p\u003e \u003cp\u003eF. Private Annuities 300\u003c\/p\u003e \u003cp\u003eG. Joint or Split Purchases 310\u003c\/p\u003e \u003cp\u003eH. Sale of Remainder Interest in Property 317\u003c\/p\u003e \u003cp\u003eI. Grantor Retained Annuity Trust and Unitrust 321\u003c\/p\u003e \u003cp\u003eJ. Personal Residence Trusts 327\u003c\/p\u003e \u003cp\u003eK. Transfers of Family Properties Summarized 337\u003c\/p\u003e \u003cp\u003eNotes 337\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Generation-Skipping Transfers 361\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA. Purpose of the Generation-Skipping Transfer Tax 361\u003c\/p\u003e \u003cp\u003eB. Definitional Provisions 362\u003c\/p\u003e \u003cp\u003eC. Tax Computation 365\u003c\/p\u003e \u003cp\u003eD. Exemptions 369\u003c\/p\u003e \u003cp\u003eE. GST Tax Planning Considerations 370\u003c\/p\u003e \u003cp\u003eNotes 371\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Special Nonprobate Planning Situations 377\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA. Joint Property 377\u003c\/p\u003e \u003cp\u003eB. Community Property 383\u003c\/p\u003e \u003cp\u003eC. Life Insurance 394\u003c\/p\u003e \u003cp\u003eD. Commercial Annuities 408\u003c\/p\u003e \u003cp\u003eE. Charitable Transfers 411\u003c\/p\u003e \u003cp\u003eF. Foreign Trusts 426\u003c\/p\u003e \u003cp\u003eNotes 431\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Special Business Planning Situations 475\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA. Family Business Planning Options 475\u003c\/p\u003e \u003cp\u003eB. Closely Held Family Corporations 476\u003c\/p\u003e \u003cp\u003eC. Closely Held Partnerships and Limited Liability Companies 492\u003c\/p\u003e \u003cp\u003eD. Special Valuation for Family Farms and Real Property 502\u003c\/p\u003e \u003cp\u003eE. Qualified Family‐Owned Business Interests 511\u003c\/p\u003e \u003cp\u003eNotes 514\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Special Executive Compensation\/Deferred Benefits Estate Planning 543\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA. Executive Compensation Planning 543\u003c\/p\u003e \u003cp\u003eB. Qualified Pension and Profit‐Sharing Plans 552\u003c\/p\u003e \u003cp\u003eC. Self‐Employed Individual 558\u003c\/p\u003e \u003cp\u003eD. Individual Retirement Account 559\u003c\/p\u003e \u003cp\u003eE. Business‐Originated Life Insurance 561\u003c\/p\u003e \u003cp\u003eNotes 569\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Post‐Mortem Estate Planning 591\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA. Planning Options 591\u003c\/p\u003e \u003cp\u003eB. Income Tax Planning Opportunities 592\u003c\/p\u003e \u003cp\u003eC. Renunciations and Disclaimers 597\u003c\/p\u003e \u003cp\u003eD. Waiver of Fee by Fiduciary 600\u003c\/p\u003e \u003cp\u003eE. Solving Estate Liquidity Problems 601\u003c\/p\u003e \u003cp\u003eF. Alternate Valuation 609\u003c\/p\u003e \u003cp\u003eNotes 610\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Estate Planner–Client Relationship 627\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA. Professional’s Responsibility 627\u003c\/p\u003e \u003cp\u003eB. Determining the Amount of the Estate Planner’s Fee 632\u003c\/p\u003e \u003cp\u003eC. Income Tax Deduction of Estate Planning Fees 633\u003c\/p\u003e \u003cp\u003eNotes 636\u003c\/p\u003e \u003cp\u003eAppendix: Worksheets 647\u003c\/p\u003e \u003cp\u003eBibliography 721\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eWILLIAM P. STRENG\u003c\/b\u003e is a professor at the University of Houston Law Center, where he teaches federal income taxation, corporate tax, international tax, and estate planning. During his career, he was deputy general counsel for the Export-Import Bank of the United States, an attorney with the U.S. Treasury Department, and taught at universities all over the world. He is the author of numerous books, portfolios, and articles dealing with a variety of tax subjects.   \u003c\/p\u003e\u003cp\u003eIf you're an attorney, accountant, or financial advisor involved in estate planning, you know there is no typical client. Every situation comes with its own challenges, and the scope of your responsibilities may become blurred as you diligently work to provide the best service possible. \u003ci\u003eEstate Planning\u003c\/i\u003e is your go-to resource for finding the answers you need to deliver exemplary service to your diverse client list. \u003c\/p\u003e\u003cp\u003eThis fundamental guide offers authoritative coverage on the practical, recurring problems facing clients going through the estate-planning process, especially related to federal tax planning. Up-to-date coverage is conveniently organized so you can find everything you need right away to minimize federal and state income, estate, gift, and inheritance taxes; reduce probate and associated property-transfer costs and burdens; and protect and enhance the client's net worth in life and in death. Actionable advice for expertly navigating both the tax and legal obligations of estate planning lets you provide such full-service guidance as: \u003c\/p\u003e\u003cul\u003e \u003cli\u003e\tOffering a complete list of options for resolving estate-planning issues during every step of the process\u003c\/li\u003e \u003cli\u003e\tSupporting the estate planner in formulating specific recommendations and suggestions for his or her clients\u003c\/li\u003e \u003cli\u003e\tExplaining the entire probate administration process to multiple generations\u003c\/li\u003e \u003cli\u003e\tEncouraging clients on the best management and growth strategies for their wealth\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eConsider this book your hub of reliable information—if it's not in these pages, the extensive citations will send you to the specific print and online resources you need to answer your questions. Additionally, a valuable appendix features a timesaving collection of checklists, client presentation material, and a variety of template letters to streamline your practical responsibilities. \u003c\/p\u003e\u003cp\u003eTurn to \u003ci\u003eEstate Planning\u003c\/i\u003e when clients turn to you for real-world solutions.     \u003c\/p\u003e\u003cp\u003eIf you're an attorney, accountant, or financial advisor involved in estate planning, you know there is no typical client. Every situation comes with its own challenges, and the scope of your responsibilities may become blurred as you diligently work to provide the best service possible. \u003ci\u003eEstate Planning\u003c\/i\u003e is your go-to resource for finding the answers you need to deliver exemplary service to your diverse client list. \u003c\/p\u003e\u003cp\u003eThis fundamental guide offers authoritative coverage on the practical, recurring problems facing clients going through the estate-planning process, especially related to federal tax planning. Up-to-date coverage is conveniently organized so you can find everything you need right away to minimize federal and state income, estate, gift, and inheritance taxes; reduce probate and associated property-transfer costs and burdens; and protect and enhance the client's net worth in life and in death. Actionable advice for expertly navigating both the tax and legal obligations of estate planning lets you provide such full-service guidance as: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eOffering a complete list of options for resolving estate-planning issues during every step of the process\u003c\/li\u003e \u003cli\u003eSupporting the estate planner in formulating specific recommendations and suggestions for his or her clients\u003c\/li\u003e \u003cli\u003eExplaining the entire probate administration process to multiple generations\u003c\/li\u003e \u003cli\u003eEncouraging clients on the best management and growth strategies for their wealth\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eConsider this book your hub of reliable information—if it's not in these pages, the extensive citations will send you to the specific print and online resources you need to answer your questions. Additionally, a valuable appendix features a timesaving collection of checklists, client presentation material, and a variety of template letters to streamline your practical responsibilities. \u003c\/p\u003e\u003cp\u003eTurn to \u003ci\u003eEstate Planning\u003c\/i\u003e when clients turn to you for real-world solutions.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989165097189,"sku":"NP9781119157120","price":75.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119157120.jpg?v=1761783055","url":"https:\/\/k12savings.com\/es\/products\/estate-planning-isbn-9781119157120","provider":"K12savings","version":"1.0","type":"link"}