Intro students Part 1 and 2

Intro students Part 1 and 2 - A Note on Printing the Slides...

Info iconThis preview shows pages 1–20. Sign up to view the full content.

View Full Document Right Arrow Icon
1 A Note on Printing the Slides • This file contains COLOR slides with 1 slide per page. • You may use ADOBE to print the format you want (e.g., multiple slides per page in color or black & white) – Go to the print menu of Adobe (see next slide) – In the “Page Scaling” drop down box click multiple pages per sheet – The menu will change and you can select the number of slides per page – On the same menu, you can check the box to “Print color as black”
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2
Background image of page 2
3 A516 Estate and Gift Taxation and Income Taxation of Estates and Trusts Spring 2009
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
4 4 Instructor Information 2009 • William N. Kulsrud, CPA, PhD wkulsrud@iupui.edu (O) 317-274-3422 (H) 317-844-9122
Background image of page 4
5 Syllabus & Assignment Schedule
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
6 The Course
Background image of page 6
7 The Estate Planning Environment
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
8 The Estate Planning Environment Goals, objectives Health, happiness, financial $ecurity Birth, education, L VE , marriage, Emergencies !! Weddings, Buying a home, Starting a family, Pursuing a career, Divorce, remarriage, combined families Over 30/40/50/60 OLD AGE, grandkids, great-grandkids, Medicare, Retirement, Social Security, Outliving your resources, Unemployment, Disability, Wealth accumulation, preservation, shrinkage, liquidity, Joint tenancy, tenancy in common, COMMUNITY PROPERTY Heirs, intestate, WILLS, pour over wills, bequests, family disputes Executor, guardian, powers of attorney, funeral, living wills , Probate, Evils of probate, Avoiding probate Trusts: Revocable/Irrevocable, Living/Testamentary , TAXES,“A/B” Trusts, Marital/Credit Trusts, QTIPs, CRATs, CRUTs, CLTs, GRITs, GRATs, GRUTs, QPRTs Generation skipping, Dynasty Trusts, Succession planning, Buy-sell agreements, ESOPs, Estate freezes, valuation discounts, FLPs
Background image of page 8
9 Cartoon
Background image of page 9

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
10
Background image of page 10
11
Background image of page 11

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
12
Background image of page 12
13 Fact #1: Wealth Transfer 1998 - 2052
Background image of page 13

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
14
Background image of page 14
15 Estate and Gift Taxes: Percentage Of Total Federal Revenues ( in billions) Source: Historical Tables, Budget of the U.S. FY 2007 2.7 1.1 24.8 2005 3.1 1.3 24.8 2004 2.8 1.2 22.0 2003 3.1 1.4 26.5 2002 2.9 1.4 28.4 2001 2.9 1.4 29.0 2000 3.2 1.5 27.8 1999 2.9 1.4 24.1 1998 Percentage of Income Tax Percentage of Total Receipts Estate & Gift Tax Receipts Year
Background image of page 15

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
16 2,000,000 .62 15,900 ESTIMATED 2008 2,000,000 .51 12,600 ESTIMATED 2006 1,500,000 19,548 ???? 2005 .28 .55 1.17 2.11 2.18 2.30 2.19 2.12 1.80 1.63 PERCENT TAXED 3,500,000 7,200 ESTIMATED 2009 2,000,000 13,900 ESTIMATED 2007 1,500,000 31,328 2,397,615* 2004 1,000,000 33,299 2,448,288* 2003 1,000,000 28,074 2,389,533 2002 675,000 49,911 2,363,100 2001 675.000 51,159 2,349,361 2000 650,000 53,819 2,336,840 1999 625,000 49,913 2,282,055 1998 600,000 47,800 2,258,366 1997 600,000 41,717 2,314,254 1996 $ 600,000 36,651 2,252,471 1995 EXEMPTION TAXABLE RETURNS ADULT DEATHS YEAR Percentage of Estates Subject to Estate Tax: IRS Statistics of Income
Background image of page 16
17 1.25 26,277 2,101,746 1991 0.99 20,751 2,096,704 1988 1.11 22,324 2,015,070 1985 1.82 34,446 1,897,820 1982 7.65 139,115 1,819,107 1976 6.51 120,761 1,854,146 1972 5.20 93,424 1,796,055 1969 4.27 67,404 1,578,813 1965 3.19 45,439 1,426,148 1960 2.49 32,131 1,289,193 1956 1.45 18,941 1,304,343 1950 1.47 18,232 1,239,713 1946 1.08 13,336 1,237,186 1940 0.96 12,010 1,257,290 1936 PERCENT TAXED TAXABLE RETURNS ADULT DEATHS YEAR Percentage of Estates Subject to Estate Tax: IRS SOI
Background image of page 17

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
18 2004 Causes of Death .7 17,357 Assault 15 17.3 414,674 All other .8 17,989 Parkinson’s 14 1.0 23,076 Hypertension 13 1.1 27,013 Liver (cirrhosis) ) 12 1.4 32,439 Suicide 11 1.4 33,373 Septicemia (infection) 10 1.8 42,480 Kidney disease 9 2.5 59,664 Flu & Pneumonia 8 2.8 65,965 Alzheimer’s 7 3.1 73,138 Diabetes 6 4.7 112,012 Accidents 5 5.1 121,987 Respiratory (lung) 4 6.3 150,074 Stroke 3 23 553,888 Cancer 2 27 652,486 Heart disease 1 Percent ofTotal Total 2,397,615 Cause
Background image of page 18
19 Get ready!
Background image of page 19

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 20
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 06/23/2009 for the course BUPA 516 taught by Professor Kulsrud during the Spring '09 term at IUPUI.

Page1 / 115

Intro students Part 1 and 2 - A Note on Printing the Slides...

This preview shows document pages 1 - 20. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online