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8.0 Credits

This course will assist CPAs in advising their clients on the unique problems of the elderly client. Topics include nursing-home care insurance, Medicare and Medicaid, Social Security benefits, and estate-planning issues for the aged or incapacitated.


  • Discuss the calculation of Social Security retirement benefits for workers, spouses, divorced spouses, and children using the Primary Insurance Amount
  • Identify when an individual has excess earnings and the effect on benefits and income taxation and explain how the full retirement benefit is reduced for early retirement and enhanced for delayed retirement
  • Describe how the financial and health-care issues of the incompetent individual may be served by a durable powers of attorney, revocable living trusts, and the titling of property in joint tenancy
  • Discuss important provisions to check in the nursing-home care agreement
  • Explain lifetime transfers with emphasis on life insurance trusts, gifts to the spouse, and effective use of annual exclusions as part of a property-transfer program
  • Identify transfers of property outside the gift-tax system, including installment sales, private annuities, and self-canceling installment sales that may both provide cash and security that gifts lack
  • Explain when a viatical life insurance settlement option is available, when a person is terminally ill, and how planners may use viatical settlements to provide liquidity to the elderly
  • List the advantages and disadvantages of making gifts of the principal residence to charity or children
  • Major Topics

    • Income tax rates, estate planning, Social Security, withholding, and other issues and questions post-DOMA
    • Health insurance issues, Medicare benefits including Medicare Plus accounts, Medicaid, employer-provided benefits, and COBRA requirements
    • Life insurance -- Viatical settlements and other issues
    • Long-term care insurance policies -- New products and regulations
    • Social Security issues A to Z including strategies to maximize benefits
    • Trust planning for the elderly -- Surrogate decision making, power of attorney, guardianship, revocable living trust arrangements, and Medicaid trust planning
    • Estate planning issues -- Gifts, trusts, and distribution planning for qualified plans and IRAs
    • Principal residence planning -- Integrating the newest strategies with Medicaid
    • Various living arrangements for the retired person

    Designed For

    All CPAs who have elderly clients in need of consulting on these very important issues

    You will receive an email from Surgent CPE with instructions to download this product.