529 Plans in Estate Planning After Tax Reform: Qualified Expenses, Education Trusts and Differing State Treatment
Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
Intermediate
- work Practice Area
Estate Planning
- event Date
Wednesday, February 28, 2018
- schedule Time
1:00 PM E.T.
- timer Program Length
90 minutes
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.
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BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
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This CLE/CPE course will provide estate planning counsel with an updated guide to the estate planning opportunities found in §529 college savings plans in light of tax reform provisions which have expanded the scope of expenditures eligible under the plan. The panel will detail the specific changes to 529 plans under the new tax bill and offer guidance on structuring trusts and incorporating contributions to 529 plans in wealth transfer plans.
One component of the recent tax reform bill that has attracted attention among many estate planners and wealth advisers is an expansion of eligible expenses which can be paid out of funds in a §529 plan.
New provisions allow the plans to pay not only post-secondary education expenses but also K-12 private, public or religious school expenses up to $10,000 per year. This expansion of 529 plans, particularly when used in conjunction with education trusts, can provide grantors with enhanced tax savings and asset protections.
Listen as our authoritative estate planning attorney panel outlines the benefits and pitfalls of using expanded 529 plan provisions, discusses the benefits of education trusts, and addresses alternative ways to create provisions for education saving planning.
- Expanded provisions of §529 pPlans in tax reform bill
- Variations in state treatment of 529 expenditures
- Structuring education trusts
- Incorporating 529 plans with education trusts
- Tax implications and benefits
The panel will review these and other key issues:
- Qualified expenses that §529 plans may pay under the new provisions of the tax law
- State law differences in defining qualified expenses which impact tax treatment of 529 plans for expenses other than college or post-secondary expenses
- Tax benefits of stand-alone education trusts offer in an estate plan
- Advantages of combining education trusts with 529 college plans in the overall estate plan
Learning Objectives
After completing this course, you will be able to:
- Identify the new provisions expanding qualified expenses eligible for 529 plans
- Recognize the differences in state treatment of 529 qualified expenses
- Determine whether a stand-alone education trust in conjunction with 529 plan is a viable part of an estate plan
- Discern what terms should be key in an education trust document
- Field of Study: Taxes
- Level of Knowledge: Intermediate
- Advance Preparation: None
- Teaching Method: Seminar/Lecture
- Delivery Method: Group-Internet (via computer)
- Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
- Prerequisite: Three years+ business, law or public firm experience at mid-level within the organization, developing complex estate plans for high-net worth clients; supervisory authority over other attorneys and accountants. Familiarity with the historical use of 529 college savings plans and education trusts as part of an overall estate plan.
Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.
Strafford is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
