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PFP 2
Personal Financial Planning 2: Tax and Estate Planning Techniques

This course may be used as an elective for the CEBS designation.

NOT OFFERED THIS SEMESTER

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This course, which is complementary to Personal Financial Planning 1, concentrates on the two subject areas of income taxation and estate planning. These concepts are applied to special situations, and techniques are described for minimizing taxes and achieving client objects. Income tax saving techniques are presented that are relevant to the individual taxpayer. Planning for retirement plan distributions also is explored. The transfer tax system is described covering both estate and gift taxes. The probate process, strategies for gifting and the marital deduction also are covered. Further management of property and its disposition is described with use of such relevant tools as revocable living trusts, wills and will substitutes. This course also reviews various business structures and the special issues associated with creation, retention or disposition of a business interest in a family's financial planning.

Study Material Update: Tax Law 2001: Congress passed the Economic Growth and Tax Relief Reconciliation Act of 2001. On May 26, 2001, the staff of the Joint Committee on Taxation issued their conference agreement containing the final tax provisions enacted into law. There are provisions in the law that impact personal financial planning. The Readings Update-December 2001 is required reading for this course and applies to all examinations for this course taken after February 28, 2002.

Assignments Topics

1	Income Taxation - A Detailed Analysis I
2	Income Taxation - A Detailed Analysis II
3	Income Tax-Saving Techniques for the Individual
4	Planning for Retirement Plan Distributions
5	The Transfer Tax System
6	Lifetime Gifting and Sales Within a Family
7	Planning for Education Expenses
8	Strategies for Using the Marital Deduction
9	Charitable Giving
10	Life Insurance in Estate Planning
11	Revocable Living Trusts, Other Will Substitutes and Property Management Arrangements
12	Selection and Use of Business Entities
13	Planning for the Retention or Disposition of Business Interests
14	Developing a Financial Plan in Specialized Situations
15	Developing, Implementing and Modifying a Comprehensive Financial Plan

Instructor:
Tuition:	$500
Day/Time:
Beginning:
Location:
Study Materials:	Study Manual Study Manual + Practice Exam on CD; Text - Personal Financial Planning by G. Victor Hallman and Jerry S. Rosenbloom, Copyright© by McGraw-Hill, Inc., 2000