CIPP
WHAT EVERY CPA SHOULD KNOW
ABOUT LIFE INSURANCE PRODUCTS AND PLANNING
The objective of this
course is to prepare CPAs for the most complicated, misunderstood, yet
ubiquitous need for client counseling -- life insurance planning and evaluation.
The course provides the tools to cut through all the complexity to the
heart of the critical planning issues with the proper assessment of alternatives
and tax-related consequences.
Major topics
include:
- A complete
discussion of all types of life insurance:
- When to use
it
- Advantages
and disadvantages
- Tax implications
- Fees and other
acquisition costs
- Review of insurance
products and their features
- Commonly asked
questions
- Determining your
client's need for life insurance
- Legal aspects,
including special policy provisions and riders
- Planning strategies
using life insurance, including its use in buy-sell agreements, charitable
giving, key- employee protection, split-dollar arrangements, trusts,
and more
- Deciphering policy
illustrations and ledger statements
- How life insurance
can affect your client's income, gift, estate, and generation-skipping
taxes
- Liability, property,
and other non-life insurance products -- Understanding how they work
and when their use is indicated
Level
of knowledge: Basic
Field
of study: Taxes (5), Administrative Practice (5)
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