ACCTÂ 5355. Estate Planning, Trusts, and Nonprofits. 3 Hours.
Students examine concepts of estate planning to enable tax minimized transmittal of property from one generation to the next generation or beyond. Topics may include: lifetime gifts, successive life estates, use of trusts, estate tax technical issues, tax research, formation and use of family partnerships, corporations, LLCs, and other business forms in conjunction with estate planning. Students gain an understanding of charitable entities/devices and their opportunities in estate planning and exposure to other not for profit tax entities and their return problems as well as an understanding and preparation of federal tax forms 709, 706, 1041, and other related forms, including Texas related forms as applicable; an understanding of community property concepts related to estate planning issues; an understanding of property issues as related to estate planning issues; and understanding and proper use of trust devices and potential tax impact (both estate and income taxation).
Prerequisite: Admission to the MS in Accounting program.
