2017 Tax Cuts and Jobs Act: Impact on Financial and Estate Planning

Author: Steven G. Siegel

CPE Credit:  2 hours for CPAs
2 hours Federal Tax Law Updates for EAs and OTRPs
2 hours Federal Tax Updates for CTEC

The 2017 Tax Cuts and Jobs Act has doubled the exclusions for gift, estate and generation-skipping transfers and preserved date of death values for income tax basis – in a law that will sunset in eight years. Are you aware of the changes and the planning opportunities?

Join Steve Siegel, J.D., LL.M., for this two-hour on-demand course that will present an overview of the new law and suggestions about how to advise clients now of the changes that may affect them, their families and their businesses. Issues involving gifting, portability, dynastic estate planning, Roth IRA conversions, persons living in high income and property tax states, states which still have death taxes and more will be the focus of our discussion.

Publication Date: February 2018

Designed For
All CPAs, EAs, and financial advisors who work with clients on estate and financial planning issues.

Topics Covered

  • 2017 Tax Cuts and Jobs Act provisions for financial and estate planning
  • Gift tax planning and impact
  • Estate planning and impact
  • A New Emphasis in Planning
  • Core Dispositive Planning
  • Checklist of Areas Where Estate Planning Is Still Required
  • Portability Must be Addressed by Every Married Person
  • 'Simple' Wills Are More Likely to be Favored Now-Is That the Right Call?
  • Income Tax Planning-The New Essential Planning Focus
  • Special Planning Concerns Where Trusts Are Used
  • What Should be Done with Life Insurance?
  • What Should be Done with Retirement Plan Benefits?
  • Changes in the Way Title to Property Should be Designated
  • Address the Status of Limited Liability Companies (LLCs), Family Limited Partnerships (FLPs) and Sales to Defective Grantor Trusts
  • Planning for Persons in Decoupled States
  • Additional Estate Planning Techniques in the Post-2017 Act Environment

Learning Objectives

  • Describe the provisions of the 2017 Tax Cuts and Jobs Act that affect estate planning
  • Recognize how clients can take steps in 2018 to take advantage of opportunities the law presents
  • Identify the major focuses for estate planning
  • Describe the primary motive for enacting portability of the federal estate tax exemption
  • Differentiate which states allow portability of the exemption amount related to by-pass trusts
  • Recognize true statements regarding the new planning considerations
  • Identify a special planning concern where trusts are used
  • Describe correct statements regarding the considerations around retirement plan benefits
  • Recognize the 2018 applicable exclusion from federal transfer taxes is approximately how much per person
  • Identify the estate tax exemption for nonresident aliens
  • Recognize the primary motive for enacting portability of the federal estate tax exemption was simplifying estate planning
  • Differentiate types of trust and which should be used to maximize income shifting opportunities
  • Identify the age to take advantage of the transfer of IRA funds directly to charity


Instructional Method

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of federal estate taxation topics.

Advance Preparation

Registration Options
Regular Fee $55.00

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