Accountants spend most of their professional lives planning for one event or another: their career, their families, their taxes, and, of course, other peoples' taxes. However, few professionals have thoroughly considered the aspect of estate planning and the tax implications associated with the various options or alternative courses of action that may be implemented.

This course provides a detailed review of important estate planning matters for practitioners who deal with owner-managers or clients with a high net worth. Specifically, you will gain enhanced estate planning skills, an introduction to important tax and estate planning concepts, useful tips, and an updated reference source. You will develop a working understanding of how to initiate and undertake effective estate planning for clients. The course emphasizes the maintenance of flexibility in the estate plan while managing estate planning risk.

Topics Include:

• Planning for the deemed disposition at death
• Planning and using trusts
• Post-mortem planning
• The use of life insurance in planning
• A U.S. estate (and gift) tax review
• The preparation and discussion of practical examples through a case study

NOTE: No updates or changes were made to the 2024 version of this course. If you completed the course in 2023, please be advised the 2024 course material has not changed. If you have any questions, please contact pdevents@cpaontario.ca.

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By the end of this course, participants should be able to:

• Identify significant issues relating to estate planning and the use of trusts.
• Analyze post-mortem planning alternatives in the context of fact-specific scenarios.
• Explain the use of life insurance in estate and post-mortem planning.
• Identify U.S. estate and gift tax issues.