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Estate Tax Planning #290326

Course Overview

Credit

Amount

CPA

4.5

CFP^®

CDFA^®

IAR/FINRA

2.5

EA / OTRP

Course Author: Paul J. Winn CLU ChFC Field of Study (CPA): Taxes Field of Study (CFP): Tax Planning Field of Study (CDFA): Tax Field of Study (IAR): Product & Practice Field of Study (EA/OTRP): Federal Tax Law

Course Description

Course publication/revision date: This course was updated on 2/13/2026 (covers 2026 taxes).

Estate Tax Planning examines the various aspects of planning for the estate tax liability. The course begins with a discussion of the genesis of estate taxation in English common law and continues with an examination of the estate and its administration. The subjects covered in the course include:

The Estate and its Administration
Federal Gift and Estate Taxes
Common Estate Planning Trusts
Calculating Federal Estate Taxes
State Death Taxes
Estate Tax Payment

Table of Contents

Chapter 1 The Estate and Its Administration1

Introduction	1
Chapter Learning Objectives	2
The Probate Estate	2
The Federal Gross Estate	3
Property Owned at Death	4
Property in Which Decedent Had Incidents of Ownership	5
Life Insurance Proceeds	5
The Executor and Administrator	7
Summary	8
Chapter Review	11

Chapter 2 Federal Gift and Estate Taxes12

Introduction	12
Chapter Learning Objectives	12
Economic Growth and Tax Relief Reconciliation Act	13
2010 Tax Act	13
2012 Tax Act	13
2017 Tax Act	14
Annual Gift Tax Exclusion	14
Estate Tax Deductions	15
Estate Tax Credits	17
Estate Tax Portability Provision	23
Summary	23
Chapter Review	25

Chapter 3 Common Estate Planning Trusts26

Introduction	26
Chapter Learning Objectives	26
Credit Shelter Trust	26
Credit Shelter Trusts vs. Portability	31
QTIP Trust	31
Irrevocable Life Insurance Trust	34
Operation of an ILIT	35
Funding the ILIT	37
Summary	39
Chapter Review	40

Chapter 4 Calculating Federal Estate Taxes41

Introduction	41
Chapter Learning Objectives	41
Estate Tax Calculation	41
The Gross Estate	43
The Tentative Taxable Estate	43
State Taxes Imposed at Death	44
Adjusted Taxable Gifts Added to Taxable Estate	45
The Tentative Estate Tax	46
The Tax Credits	46
Hypothetical Clients - Calculating the Estate Tax Liability	48
Client #1 - George and Sheila Edwards	48
Client #2 – Bill and Lori Bell	49
Summary	50
Chapter Review	51

Chapter 5 State Death Taxes52

Introduction	52
Chapter Learning Objectives	53
Estate Taxation	53
Inheritance Taxation	53
Summary	54
Chapter Review	54

Chapter 6 Estate Tax Payment55

Introduction	55
Chapter Learning Objectives	55
Paying Estate Taxes and Settlement Costs	55
Use of Liquid Estate Assets	56
Selling Illiquid Estate Assets	57
Borrowing to Pay Taxes	57
Using Life Insurance Death Benefits to Pay Taxes	58
Summary	59
Chapter Review	60

Glossary61

Answers to Chapter Quizzes65

Chapter 1	65
Chapter 2	66
Chapter 3	67
Chapter 4	67
Chapter 5	71
Chapter 6	72

Index73

Course Details

Author: Paul J. Winn CLU ChFC

Paul J. Winn CLU ChFC — Financial Writer, Editor & Trainer. Education: B.A., St. John’s University (1961–1964); Law School, University of Virginia (1964–1965); MBA program Binghamton University (1986–1989); CLU (1985); ChFC (1987). Experience: Thirty years in the life insurance and investment industry (1965–1995). Thirty-one years as a financial writer, editor and trainer (1995–2026). Paul held positions at Mutual Life Insurance Company of New York as product developer and compensation officer; at Security Mutual Life Insurance Company as general agent, marketing vice president, and agency vice president; at Principal Financial Group as agency manager; and as president of Maryland Financial Corporation, managing a financial adviser corporation providing tax, investment and financial planning. As a writer and editor, Paul is a published book author whose books include Tax Planning from the Heart, Business Succession Planning, and Dominating Obamacare. He served as writer and editor of a major mutual life insurance company’s agent training university, created more than 200 insurance, securities and tax training courses in online, print and scripted classroom formats, and is the founder and CEO of Winn Publications LLC, a tax and insurance continuing education course licensor.

Publication/Revision Date: 2/13/2026

Course Exam Questions (online): 25 (multiple-choice)

Program Delivery Method: Self-Study (NASBA QAS Self-Study)

Available Formats of Course Text: Downloadable PDF, Printed/Mailed

Course Level, Prerequisites, and Advance Preparation Requirements

License	Course Level	Prerequisites	Advance Preparation Requirements
CPA	Overview	None	None
CFP®	Intermediate	None	None
CDFA®	Intermediate	None	None
IAR	Intermediate	None	None
EA/OTRP	Overview	None	None

* This program is appropriate for professionals at all organizational levels.

Sponsor ID Numbers

National Registry of CPE Sponsors I.D.: 107615

CFP Board Sponsor I.D.: 1008 — Course I.D.: 298398

Registered with the Institute for Divorce Financial Analysts

NASAA Sponsor I.D.: S17460 — Course I.D.: C80858

IRS Qualified Sponsor I.D.: FWKKO — Course I.D.: FWKK0-T-00742-26-S

State CPA Board Sponsor ID Numbers (where applicable)

Florida Division of Certified Public Accounting: 0004761

Hawaii Board of Public Accountancy: 14003

New York State Board for Public Accountancy: 002146

Ohio Accountancy Board: CPE .51 PSR

Pennsylvania State Board of Accountancy: PX178025

Texas State Board of Public Accountancy: 009349

Learning Objectives

As a result of studying the course material, you should be able to meet the objectives listed below:

Explain the differences between an estate for tax purposes and a probate estate;
Identify the assets that comprise the federal gross estate;
Compare state inheritance taxes and estate taxes and the typical beneficiary classifications for state inheritance tax purposes;
Explain how gifts are taxed under the federal gift tax system;
List the deductions and credits allowed under the federal system of estate taxation;
Describe the common trusts employed in estate tax planning;
Perform an estate tax calculation; and
Identify the methods of estate tax payment and their cost consequences.