THE UNIVERSITY OF ALABAMA

College of Human Environmental Sciences

Department of Consumer Sciences

CSM 420/520 - Personal Estate Planning and Taxation

Spring 2007

 

Mrs. Jan L. Brakefield, M.S., CFP, Assistant Professor

214 Adams Hall

348-8722

jbrakefi@ches.ua.edu

Office hours:

M/W  8 -10 am and R 2 – 4 pm

And by appointment

 

 

Course Description:  Techniques of personal estate planning throughout the life cycle.

 

Textbook:  Prestopino, C.J.  (annual edition).  Estate Planning and Taxation.  Kendall/Hunt.

 

Course Objectives:  Students in CSM 420/520 will

          1.       demonstrate an understanding of the estate planning process.

          2.       identify characteristics of the unified transfer tax system.

          3.       analyze a specific scenario to calculate federal estate and gift tax liability.

          4.       evaluate a given situation to select the most appropriate exclusion or valuation technique.

          5.       identify the steps in the probate process.

          6.       identify characteristics and tax implications of various types of trusts.

          7.       analyze a given situation to identify income, estate, or gift tax implications of a life insurance contract.

          8.       analyze a given situation to select the most appropriate property for a lifetime transfer.

          9.       evaluate a specific situation to select the most appropriate use of a marital or nonmarital transfer.

         10.     evaluate a given situation to select the most appropriate charitable transfer.

 

Evaluation:    CSM 420                               CSM 520

exam I                 100 points                          100 points                                 

Exam II                100 Points                          100 Points

Exam III              100 points                          100 Points

Final Exam      100 points                          100 Points

PPT PRESENTATION                            100 POINTS*

 

Total                       400 POINTS                   500 POINTS

 

*Graduate students will design and deliver a PPT presentation on a financial topic.

 

General Information:

Smoking, eating or drinking in the classroom is not permitted.

Class attendance is expected.  You are responsible for reading the textbook chapters BEFORE coming to class and for participating in class discussions.  Extra credit is available for those who miss no more than three class periods. 

 

Policy on Academic Misconduct:

All acts of dishonesty in any work constitute academic misconduct.  This includes, but is not necessarily limited to cheating, plagiarism, fabrication of information, and abetting any of the above.  The Code of Academic Conduct and Academic Misconduct Disciplinary Procedures will be followed in the event that academic misconduct occurs.  Students should refer to the Student Affairs Handbook which can be obtained from the Student Life Office in Ferguson Center.

 

Policy on Disability Accommodations:

The University of Alabama is committed to providing persons with disabilities an equal opportunity to participate in and benefit from all programs and services offered by the University. It is the responsibility of persons with disabilities to seek assistance. If you need special assistance, please contact the Office of Disability Services at 348-4285 or Dr. Olivia Kendrick, 101 Doster, 348-6150.

 

 

CSM 420/520 COURSE OUTLINE

 

January 11, 16                                     Chapters 1 & 2                      Introduction & Basic Concepts

January 18, 23                                     Chapter 3                               Estate Planning Documents

January 25, 30                                     Chapter 4                               The Transfer of Wealth

February 1                                            EXAM I                                 

February 6                                            Chapter 5                               Federal Unified Wealth Transfer Taxation

February 8, 13                                     Chapter 6                               Federal Estate Tax

February 15, 20                                   Chapter 7                               Federal Gift Tax

February 22                                          Review Transfer Taxation Scheme

February 27                                          EXAM II                               

March 1                                                 Chapter 10                             Avoiding Probate

March 6, 8                                            Chapter 11                             Common Estate Plans

 

March 13, 15                                        Spring Break                        

March 20, 22                                        Chapter 12                             Advanced Bypass Planning  

March 27                                              Exam III Review

March 29                                              EXAM III

April 3                                                   Chapter 13                             Lifetime Transfers I

April 5, 10                                            Chapter 14                             Lifetime Transfers II

 

April 12                                                 Chapter 15                             Liquidity Planning

April 17                                                 Chapter 17                             Miscellaneous Lifetime Planning

April 19                                                 Chapter 18                             Postmortem Tax Planning

April 24, 26                                          Case Analysis and Grad Student Presentations

May 1                                                     Grad Student Presentations

May 9,  8:00 am                                   Final Exam