Stetson’s College of Law announced that it will offer a graduate certificate program for Elder Law Attorneys who need tax knowledge, but not the Tax LL.M. They state:
Many cases affecting clients involve tax issues. Because clients often fall in the middle class, they do not always need sophisticated tax planning. But, attorneys who represent older clients need to have an understanding of various tax issues that are frequently encountered by older clients. This program divides those issues into four discrete categories. This Certificate program is best suited for attorneys who have been in practice at least 3 to 5 years and who do not have a Tax LL.M. degree.
Program detailed are as follows:
Foundations of Tax in an Elder Law Practice
September 16 – September 28, 2024
Instructor: Michael Kirtland
Includes an overview of the interrelationship between Estate, Gift and Income Taxes. More discussion and analysis of income taxes and all issues related to tax issues of elders, including all income and deductions and credits for elders. All IRS forms related to this topic will be reviewed and discussed, including the tax return and schedules which report income and where deductions are taken. Capital gains vs. ordinary income rates are reviewed. Just as important to the subject of income will be deductions and exemptions and options for clients to reduce taxable income if taxes can’t be eliminated. Elder credits and childcare credits for a client who is responsible for a grandchild/dependent will be reviewed together with options where a child may take a credit for a dependent parent. Proposed tax law changes will be presented.
Foundations of Gift and Estate Taxes
September 30 – October 12, 2024
Instructor: John DeSantis
An overview of the history of estate and gift taxes will be presented together with an update as to the possible unification of the tax credit for both and tax rates. Details of inclusion of assets in an estate together with a sample Estate Tax return with all schedules will be reviewed. Expenses and deductions will be discussed. The DSUE will be prepared and utilized in the estate of the second spouse to die. Gifts (complete and incomplete) will be discussed along with the preparation of the Gift Tax return and use of the annual exclusion, unified credit and split gifts vs. sole gifts. Grantor trust rules will be explained.
Additional Issues to be Utilized and Recognized by Practitioners
October 21 – November 2, 2024
Instructor: Hyman Darling
LLC’s, FLPS, and Corporations will be discussed as to their creation and implementation in an estate plan, including gift, estate and income tax issues to the entity and beneficiaries, which could include an estate or trust. Charitable gifts and more sophisticated options such as CRUTS, CRATS, Charitable Gift Annuities, Donor Advised Funds and use of a Community Foundation will be presented. Relationships with the CPA and financial advisor together with disclosure requirements, appraisal requirements and ethical issues of all issues will be discussed. Tax issues relative to Long Term Care Insurance premiums and payments will be included. Kiddie Tax issues and tax minimization strategies will be presented.
Advanced Issues in Taxation for an Elder Law Practice
November 4 – November 16, 2024
Instructor: Benjamin Rubin
The taxation of investments will be discussed along with capital gains, savings bonds, annuities, stocks, bonds, CDs, sales of personal residences (both during life and post death and exceptions), and qualified plans (IRAs, 401K, 403B, deferred compensation plans). Distributions from IRAs post death to beneficiaries will be explained under SECURE and SECURE 2.0. Discussion will include options for the final year of an entity and alternative reasons for maintaining the entity or termination early. Calendar years and fiscal years will be reviewed. Funding and taxation of trusts created for protection of assets from long term care expenses will be included. Gifting to trusts and determination of completed gifts will be discussed. Funding 529 and ABLE accounts to be explained.
Graduate Certificate Assessment
Instructor: Katie Everlove-Stone
If the attorney is seeking the Graduate Certificate, once they have completed all four courses, they will be required to schedule a one-on-one program assessment via Zoom with Professor Everlove-Stone. The attorney must successfully pass the assessment to be awarded the Graduate Certificate.
Unfortunately, it looks like this may be an online program, so no trip to the beach. Sorry about that. Hopefully our photo helps.
