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Call Number: 21982
Course Number: 6670-01
Credit Hours & Type of Credit: 2
Semester Offered: Spring
Prerequisites: Gift & Estate Taxation, Income Taxation, and Trusts & Estates
Recommended Courses: None
Course Overview: The course will apply estate and gift tax principles in a survey of estate planning principles and techniques. Traditional estate planning tools including wills, trusts, and durable powers of attorney will be discussed as well as post-mortem planning, administration issues, and planning for special situations, such as owners of closely held businesses, entrepreneurs, and the disabled.
Estate planning focuses heavily on planning for individuals who have sufficient wealth to make them subject to the estate and gift tax portions of the Internal Revenue Code. As such, the course continues to focus heavily on tax consequences of various planning methods. Of course, the same planning techniques generally can be applied to those individuals with modest or little wealth.
You will be required to prepare a number of documents. The drafting assignments will probably include, among other things, a will, trust and relevant tax returns.
Course Materials: See the current Book List located under Courses and Curriculum.
Course Format: Course will primarily be lectures supplemented with presentations by students in relation to an assigned estate planning problem.
Written Assignments: 1. Preparation of a Form 706, U.S. Estate Tax Return and Form 709, U.S Gift Tax Return. 2. Draft an estate plan and a will (with related documents). 3. Analyze an assigned estate planning problem, prepare a memorandum answering the problem and present the problem and answer to the class.
Type of Exam: No Exam
Basis for Grading Student Performance: Grade will be based upon the above three written assignments with each assignment being worth 1/3 of each students grade.