![]() |
Table of Contents | Next![]() |
PART 3—TIME SCHEDULE/COURSE OUTLINE
TIME SCHEDULE
|
|||
TOPIC | SUGGESTED | ||
TIME |
Introductions | 5 minutes | |
I. | Introduction: Purpose, nature, and scope of the federal gift tax law | 15 minutes |
II. | Tax advantages of lifetime gifts | 30 minutes |
III. | Allowable reductions for gift tax (part 1) | 30 minutes |
Break | 10 minutes | |
Subtotal | 90 minutes | |
III. | Allowable reductions for gift tax (part 2) | 15 minutes |
IV. | Calculating the gift tax payable | 30 minutes |
V. | Reporting gifts and paying tax | 10 minutes |
VI. | Relationship of the gift tax system to the income tax system | 5 minutes |
VII. | Determination of the basis of gift property | 10 minutes |
VIII. | Relationship of the gift tax system to the estate tax system | 10 minutes |
IX. | Gift selection factors | 10 minutes |
Subtotal | 90 minutes | |
Overall total | 180 minutes |
– Present interest—an immediate, unfettered, and ascertainable right to use, possess, and enjoy the gift – Future interest—a deferred right to use, possess, and enjoy the gift – Determines qualification for annual exclusion – Splitting gifts between present and future – Trust involvement
– Policy cash value unnecessary – No donee limitations
– Necessary for beneficiaries to have present interest – Beneficiary demand powers – Ratable – Beneficiary notification
– Income distribution required – Principal distribution less restricted
– Distribution of income and principal at majority – Distribution of income and principal at majority – Possible trust management after majority
– Simple to use – Possible property limitations
![]() |
Top![]() |
Next![]() |