Even with the anticipated sunset of the estate tax basic exclusion amount, it is rare for wealth transfer professionals to prepare estate and gift tax returns. This makes it easy to write off knowledge of these returns as unnecessary. However, the ability to navigate gift and estate tax returns is important for optimal planning. In this session, we will introduce basic considerations and pitfalls when preparing or reviewing IRS Forms 706 and 709. We will also explore situations where the filing of these returns may be optional.

LEARNING OBJECTIVES:
As a result of attending this program, the audience will be able to:

• Identify important components of IRS Forms 706 and 709;
• Identify situations where the filing of these returns is required or elective;
• Identify common errors in these returns; and
• Determine what deadlines and remedies apply to these returns.