Plan Your Estate

Exam Questions: 120
Course Level: Basic
Pages: 556 | Content: 528, Supplemental: 28
NASBA Area of Study: Finance
Not Acceptable for: Enrolled Agents
Version: 7665C

With proper estate planning, an individual can ensure that his or her property will pass to the right people with minimal delay, red tape, and cost. This course explains estate planning in plain English, step by step, option by option. It covers the estate planning goals of leaving property, providing for young children, planning for incapacity, avoiding probate, and reducing estate tax. PLEASE NOTE: Not accepted for Enrolled Agents. All course material provided. No prerequisites. Course level: Basic.

CFP Program Approval Number: 318781 for 24 CE Hrs This course (#7665 version C) is registered with the CFP Board and will be reported for CFP credit if completed by 12.31.2024. If you have any questions regarding this, please contact customer service at: 800-990-2731.

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Course Information

Table of Contents
  • Selecting Your Estate Planning Goals
  • Personal Concerns and Estate Planning
  • Special Property Ownership Rules for Married People
  • Inventorying Your Property
  • Your Beneficiaries
  • Children
  • Wills
  • Probate and Why You Want to Avoid It
  • Living Trusts
  • Joint Tenancy and Tenancy by the Entirety
  • Pay-on-Death Designations, Registrations, and Deeds
  • Life Insurance
  • Retirement Benefits
  • State Law Exemptions from Normal Probate
  • Estate Taxes
  • Gifts and Gift Taxes
  • An Overview of Ongoing Trusts
  • AB Disclaimer Trusts
  • Other Estate Tax-Saving Marital Trusts
  • Charitable Trusts
  • Other Estate Tax-Saving Trusts
  • Disclaimers: After-Death Estate Tax Planning
  • Combining Estate Tax-Saving Trusts
  • Property Control Trusts for Second or Subsequent Marriages
  • Trusts and Other Devices for Imposing Controls Over Property
  • Incapacity: Making Medical and Financial Decisions
  • Body and Organ Donation, Funerals, and Burials
  • Family Business Estate Planning
  • After You Complete Your Estate Plan
  • After a Death Occurs
  • Some Estate Plans
  • To recall the central goal of estate planning
  • To identify ownership rules that apply specifically to married people
  • To recognize special considerations of various types of property included in an estate
  • To recall the different types of beneficiaries
  • To identify some of the limitations of various types of beneficiaries
  • To identify how to name a guardian for children
  • To recall various methods for leaving an estate to children and some imposed regulations in doing so
  • To recognize various types of wills and identify their uses
  • To recall recommendations for preparing a will
  • To identify how long probate generally lasts and when it may be good for an estate to be probated
  • To recognize advantages of living trusts
  • To identify characteristics of living trusts
  • To identify characteristics of joint tenancy by the entirety
  • To recall characteristics of pay-on-death accounts
  • To identify various types of life insurance and the impact of life insurance on an estate
  • To recognize the impact of retirement plans on an estate
  • To identify state probate requirements
  • To recall estate tax exemption amounts and tax rates
  • To identify the federal gift tax rules and how gifts can be used to save on federal estate taxes
  • To recall characteristics of ongoing trusts
  • To recall how AB disclaimer trusts can be used to reduce or eliminate federal estate taxes
  • To recognize various marital trusts that can provide federal estate tax savings
  • To identify the two basic types of charitable trusts and the types of tax savings they can create
  • To recognize types of trusts that can be used by individuals and couples with very large estates to save on estate taxes
  • To identify the use of disclaimers by any substantial estate
  • To recognize who may benefit by combining estate tax-saving trusts
  • To recognize basic estate planning options for couples in second or subsequent marriages
  • To identify characteristics of various types of property control trusts
  • To recall methods that can be used to make medical and financial decisions in the event of incapacity
  • To recall the importance of leaving instructions for the disposition of the body at death
  • To recall the major concerns for small business owners regarding estate planning
  • To recall what to do with estate planning documents after they are prepared
  • To recognize the tasks to be done by someone after a person dies

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.