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Nicholas mercer
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Decks in this class (25)
Chapter 1- Overview
The estate planning process,
Advantages of a well planned estate,
Consanguinity
8
cards
Chapter 2 - Ethics
Distinguish between ethics and co...,
Moral perception,
Moral imagination
9
cards
Chapter 3 - Ownership
Real property,
Personal property,
2 broad types of property ownership
31
cards
Chapter 4 - Trusts, Trustees, and Other Fiduciaries and Powers of Appointment
Legal definition of trust,
There are five elements common to...,
Trust term provisions
32
cards
Chapter 5 - Lifetime Transfers by Gift - An Overview
Gift,
Direct gifts,
Forgiving a debt constitutes a gift
24
cards
Chapter 6 - Lifetime Transfers by Gift - An Overview of Federal Gift Taxation
Inter vivos gift,
Testamentary gift,
The advantages of gifting
20
cards
Chapter 7 - Transfers at Death
Federal estate tax asset valuatio...,
Fair market value,
Special use valuation current use...
34
cards
Chapter 8 - Administration of the Estate
Probate meaning,
Self proving will,
Methods to avoid probate
15
cards
Chapter 9 - Valuation of Assets for Federal Estate and Gift Taxation
Special use valuation is availabl...,
There are a number of methods all...,
In general property in an estate ...
16
cards
Chapter 10: Buy-Sell Agreements
Most properly drafted buy sell ag...,
Types of partnership buy sell agr...,
Entity liquidation agreement
18
cards
Chapter 11 - Federal Estate Taxation: The Gross Estate - Part I
Egtrra,
Tax reform act of 1976 was,
Tcja estate gift and generational...
20
cards
Chapter 12 - Federal Estate Taxation: The Gross Estate - Part II
Sec 2039 of the internal revenue ...,
Characteristics of joint tenancies,
Power of appointment terminology
24
cards
Chapter 13 - Deductions from the Gross Estate
Allowable deductions from gross e...,
Any expenses that were incurred f...,
Expenses and debts of community p...
13
cards
Chapter 14 - The Marital Deduction
Marital deduction requirements,
Terminal interest rule,
Qtip trust
22
cards
Chapter 15 - The Charitable Deduction
The unlimited charitable deduction,
Charitable deductions are denied if,
Split interest arrangement
24
cards
Chapter 16 - State Death Taxes and Estate Planning
Only state estate tax qualifies f...,
Deduction order goes marital dedu...,
Real property is only taxed in th...
12
cards
Chapter 17 - Computation and Payment of Federal Estate Tax
Tentative tax base,
Basic credit amount,
Filing and tax payment extensions
24
cards
Chapter 18 - The Basis Rules for Property Transferred during Lifetime or at Death
Income in respect of a decedent ird,
Inventory for sale in the ordinar...,
If a decedent exercises a general...
11
cards
Chapter 19 - Income Taxation of Estates and Trusts
Distributable net income,
There is a 600 exemption for esta...,
Income in respect of decedent ird
36
cards
Chapter 20 - The Generation-Skipping Transfer Tax
Generation skipping tax,
Skip beneficiary,
Direct skip
24
cards
Chapter 21 - Other Estate Planning Techniques
0
cards
Chapter 22 - The Role of Life Insurance in Estate Planning
Liquidity
1
cards
Chapter 23 - Postmortem, Health, and Special Groups Planning
General durable poa,
General poa,
Special limited poa
7
cards
Exam Q's
All of the following statements c...,
All of the following statements c...,
Which of the following statements...
75
cards
Specific LO's
63 allowable reductions for gift tax,
Gift splitting applies only to gi...,
An annual exclusion is allowed on...
14
cards
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CFP Exam 6
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