Probate and Estate Tax Return Preparation for Legal Professionals

Training Provided by Lorman Education Services Whether you prepare United States estate (and generation skipping) tax returns (Form 706) for your clients or just gather the information for the preparer, this teleconference introduces you to the process and will teach what needs to be done and how to do it. This teleconference includes a practical checklist for gathering the necessary information and demonstrates the application of the work by describing where the information is used on Form 706. This nuts and bolts presentation will be useful if you are new to this area and will be a good refresher on how to do this critical task in the trust or estate settlement process.

Probate and Estate Tax Return Preparation for Legal Professionals Agenda

1. Separating 706 Issues From Other Administration Issues
2. Who Prepares?
3. Deadlines to Know
4. Preliminary Determination of Taxable Estate
5. Reading the Trust or Will
6. Preparing to Pay the Tax
1. Apportionment Rules
2. Practical Considerations
7. Gathering Information
1. All Prior Gift Tax Returns
2. Inventory
1. Appraisals
a. Real Property
b. Tangible Personal Property
c. Investment Property
2. Date of Death Values
3. Forms 712 for Life Insurance
3. Death Certificate
4. Beneficiary Names, Addresses and Social Security Numbers
8. Elections to Be Made
1. Administrative Expenses
2. Alternate Valuation Date
3. GST Allocations
9. The 706 Tax Return

About The Training Provider: Lorman Education Services

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