Upon successful completion of this course, participants will be able to: Identify the issues that can impact your estate planning goals. Specify the types of liquid assets. Describe the clauses that can be included in a will. Identify how the disinheritance concept is used. Specify the rules associated with a 529 plan. Identify the requirements for the creation of a will. Recall the steps involved in the probate process. Specify when the probate process can be useful. Describe the structure and contents of a living trust. Specify how a joint tenancy arrangement works. Specify the problems with a joint tenancy arrangement. Recall the advantages of the pay-on-death option. Recall the best circumstances for purchasing life insurance. Identify the different types of life insurance policies. Recall the characteristics of the different types of IRA. Recall how an estate is valued for estate tax purposes. Specify the types of transactions that can trigger a gift tax. Identify the rules relating to the gift tax exclusion. Recall the nature of a present interest. Specify the uses to which the different types of trusts can be put. Identify the circumstances under which you might disclaim an inheritance. Recall the IRS rules for including a family member in a family partnership. Specify what triggers a springing power of attorney. Identify the nature of any reports that a trustee might need to send to beneficiaries.

Property Ownership Rules Itemizing Your Property Types of Beneficiaries Explanations for Beneficiaries Disinheritance Assigning Responsibility for Raising Your Child Property Management Options Leaving Property to Other Children The Need for a Will Types of Wills When to use Probate Advantages of a Living Trust Essentials of Joint Tenancy Tenancy Tax Issues The Pay-on-Death Option When to Use Life Insurance Social Security Benefits Individual Retirement Accounts Estate Tax Exemptions The Gift Tax QTIP Trusts Multiple Trustee Situations