PART 1—COURSE OBJECTIVES

After you have completed this course you will be able to do the following:

• Define several types of ownership interests in property.
• Summarize the process of probating an estate and distributing property under state intestacy laws.
• Describe the federal gift tax system.
• Describe the federal estate tax system.
• Describe the patterns of state death tax systems.
• Identify the advantages of lifetime gifts, and list several ways of making them advantageously to minors.
• Explain how the marital deduction may be used advantageously for federal estate tax purposes.
• Explain how gifts of property to charity may be used advantageously in planning a client’s estate.
• Describe ways in which life insurance can be used in estate planning.
• Describe several types of estate planning documents.