Estate Planning - Hardcover

by William P. Streng (Author)

Plan ahead: estate planning to secure your wishes

Estate Planning 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.

When 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.

• Explore the fundamentals of estate planning as they relate to wealth transfer planning
• Dive into special property transfer planning considerations, including community property, life insurance, charitable transfers, closely held corporations, etc.
• Better serve your clients by having access to relevant, easy to navigate information on estate planning best practices
• Reinforce these new ideas with a comprehensive test bank

Estate Planning 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.

Front Jacket

If 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. Estate Planning is your go-to resource for finding the answers you need to deliver exemplary service to your diverse client list.

This 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:

• Offering a complete list of options for resolving estate-planning issues during every step of the process
• Supporting the estate planner in formulating specific recommendations and suggestions for his or her clients
• Explaining the entire probate administration process to multiple generations
• Encouraging clients on the best management and growth strategies for their wealth

Consider 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.

Turn to Estate Planning when clients turn to you for real-world solutions.

Back Jacket

If 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. Estate Planning is your go-to resource for finding the answers you need to deliver exemplary service to your diverse client list.

This 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:

• Offering a complete list of options for resolving estate-planning issues during every step of the process
• Supporting the estate planner in formulating specific recommendations and suggestions for his or her clients
• Explaining the entire probate administration process to multiple generations
• Encouraging clients on the best management and growth strategies for their wealth

Consider 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.

Turn to Estate Planning when clients turn to you for real-world solutions.

Author Biography

WILLIAM P. STRENG 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.