Pentera - Estate Planning Techniques for Small Business Owners

This course was developed by the editorial staff of Pentera Group, Inc.

Life insurance has long been considered one of the primary tools for both estate planning and succession planning. For small business owners, these two planning challenges are thoroughly intertwined. 

This course offers a comprehensive overview of estate and succession planning. It explains how life insurance and other financial tools can be used to meet a business owner’s planning needs by providing liquidity, equalizing inheritances, funding trusts, preventing estate shrinkage, and creating wealth and income for survivors. It also discusses other planning techniques that estate owners can use to prepare for the passing of property—including a business—at the owner’s death.

This course includes the following chapters:
  • The Importance of Estate Planning
  • Wills: The Foundation of Estate Planning
  • Planning for the Biggest Asset in the Estate
  • Providing for Retirement, Spouse, and Heirs
  • Using Trusts to Meet Unique Needs
  • Summing it All Up
This is an advanced level course. Upon conclusion, students will be able to:
  • apply the use of wills and income in respect of a decedent to estate planning
  • describe different types of property ownership
  • explain the benefits of making lifetime gifts, and how clients can do so in a tax-favored manner
  • demonstrate understanding of how the federal estate tax can impact an estate, and how to minimize that impact
  • apply ways in which a spouse can plan to pass assets to a surviving spouse
  • describe how the generation skipping transfer tax works
  • interpret the value of irrevocable life insurance trusts and other trusts available as estate planning tools
  • explain how to pass assets to children
  • compare and contrast family limited partnerships—how they work and their advantages in estate planning
  • devise ways to help clients plan for incapacity and incompetence
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