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Gift & Estate Tax Workshop: Forms 706 & 709

Credit(s): 5.25 General
Product ID: C2081-VID
Original Program Date: October 31, 2012
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  • Moderator:  Stuart J. Kohn, Levenfeld Pearlstein LLC, Chicago

    Hypothetically Speaking …
    In this presentation, a hypothetical fact situation will be presented. The hypothetical will include a decedent’s estate with a living trust, retirement plan, life insurance, and sample forms 1041, 706, & 709.  Throughout the day, we’ll examine how various decisions will result in specific tax consequences and how to prepare Forms 706 & 709 to effectively handle those consequences.
    Stuart J. Kohn, Levenfeld Pearlstein LLC, Chicago

    Form 706: The Federal Estate Tax Return
    The presentation will include a timeline for the estate tax return preparation process, information to gather from the client, tips on preparing schedules for different types of assets, valuation issues, and a typical computation for the marital deduction.  A sample estate tax return will also be presented based on the day's hypothetical, including common elements in the estate of a second-to-die spouse, such as how to incorporate lifetime taxable gifts in the estate tax computation, how to derive the state death tax deduction using an interrelated computation, how to allocate assets to the different schedules, and how to present narratives on the return.
    Emily J. Kuo, Harrison & Held, Chicago

    Form 709: The Federal Gift Tax Return
    Our expert faculty will walk you step-by-step through the basics of federal gift tax return preparation, including calculation of tax due, gift tax splits, & filing procedure and deadlines. The presentation will also include sample completed forms.
    Thomas G. Hamill, Harrison & Held, Springfield

    Post-Death Tax Planning
    This session will give you some general advice on post-death tax planning, including information to help you with formal elections & estate administration decisions.  Materials will include a checklist of elections & decisions to aid you in this process.  Finally, there will be a discussion on using disclaimers.
    Stuart J. Kohn, Levenfeld Pearlstein LLC, Chicago

    The Connection between Federal Estate, Gift and GST taxes and Illinois Estate Tax
    This session will walk you through the areas of overlap between federal and Illinois law.  Learn about problems that you might face under federal tax law, even if you have Illinois perfectly planned.  Discuss questions you should ask your clients to avoid future state tax law problems, and more!
    Igor Potym, Vedder Price PC, Chicago

    Intersecting Issues: Forms 1041, 706, & 709
    What are the effects of Forms 706 & 709 on Form 1041? We’ll take a look at a sample completed Form 1041 and pinpoint areas of interest.
    Jean M. Langie, BMO Harris Bank N.A., Chicago

    5.25 General   5.25 Credits

    DescriptionPagesFile Size
    Gift and Estate Tax Workshop Program Materials-M-D.pdfNA12 MB
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