Surgent's Multigenerational Financial and Tax Planning for Clients

 

   

 

 
New Search

Overview

8.0 Credits

Many clients overlook planning that takes into account not only their own issues but also the needs of other generations - above and below - of the extended family unit. Advisors can help achieve tax and financial planning objectives for multiple ties within the family. This course will explore various techniques for different net worth/income levels of generations.

Objectives

  • Identify transactions that may benefit multiple generations in a family
  • Understand how the net investment income tax impacts various tax and financial planning strategies
  • Understand structuring of a business and the transfer of interests in a family-owned business

Major Topics

  • Using the trans-generational IRA to benefit lower-income parents
  • How to take advantage of the Roth IRA
  • Income-splitting and the creation of earned income for lower and higher generations
  • Qualifying higher-generation members as dependents
  • Medical expense: how younger generations can help higher-generation members
  • Elder care planning: reverse mortgages, Medicaid eligibility
  • Checklist of documents each generation needs
  • Loans and gifts that may reduce or eliminate the net investment income tax
  • Role of trusts in multi-generational planning
  • Ownership of real estate: does the QPRT make sense?
  • Succession planning: transferring a business interest; use of voting and nonvoting stock; planning for redemptions; special problems of LPs, LLCs, and partnerships; buy-sell and other restriction agreements
  • Minors: using trusts, kiddie tax issues, avoiding net investment income tax; funding education and retirement through CESAs and 529 plans
  • Life insurance: who needs it, and how much; use of annuities and private annuities

Designed For

CPAs who provide tax and financial advice to clients within multiple-generation family structures

Prerequisite

Prior experience in advising clients on individual and financial planning issues
Add to Cart