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Estate Planning > Estate Planning Opportunities and Strategies for Private Forest Landowners in the Northeast Region

NOTE: Some of the information in this publication is out of date and does not reflect current law.

Michael G. Jacobson and John Becker
The Pennsylvania State University

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Estate Planning Opportunities and Strategies for Private Forest Landowners in the Northeast Region (Full Version)

Acknowledgments
Chapter I. Course Description: How to Use This Book; Course Objective and Purpose; Overview of Content; Performance Objectives - Study Hints
Chapter II. Estate Planning and You: Consider This Situation; Overview and Purpose; Lesson Objectives; What is Estate Planning?; How Does an Individual or Family Plan an Estate?; Estate Planning Advisors and the Tools They Use; Student Exercises
Chapter III. Managing Forestlands with a Focus on the Northeast: Overview and Purpose; Lesson Objectives; Introduction; Important Forestry Concepts; Developing a Management Plan; Valuing Your Forest; Income Tax Aspects of Forest Management and Recordkeeping; Obtaining Assistance; Student Exercises
Chapter IV. Property Transfers After Death: Overview and Purpose; Lesson Objectives; Property Transfers After the Death By Operation of Law; Transfer By the Intestate Law; Transfers By a Last Will and Testament; Transfers Through a Trust; Disclaimers; Comparison of Transfer Methods; Student Exercises
Chapter V. Tax Aspects of Estate Planning: Overview and Purpose; Lesson Objectives; Federal Income Tax; State Inheritance Tax; State Estate Tax; Federal Estate Tax; Federal Gift Tax; Student Exercises
Chapter VI. Calculating the Federal Estate Tax That an Estate Will Pay: Overview and Purpose; Lesson Objectives; Calculating the “Federal Gross Estate”; Valuing Property Subject to Tax – General Rules; Valuing a Business; Special Use Valuation of Land and Real Estate Used in a Closely Held Business; The Qualified Family Owned Business Deduction; Paying the Tax that is Due in Full or in Installments; Student Exercises
Chapter VII. Using Gifts in Estate Planning: Overview and Purpose; Lesson Objectives; What is a Gift?; Distinguishing Gift from Other Transfers; How Are Lifetime Gifts Used in Estate Planning?; Factors Involved in Gift Giving Programs; Gifts to Charities and Other Institutions; Income, Inheritance, Gift and Estate Tax Issues of Gift Giving; Student Exercises
Chapter VIII. Conservation Easements: Valuing Property Subject to a Qualified Conservation Contribution: Overview and Purpose; Lesson Objectives; Conservation Easements; Tax Aspects of Conservation Easements; Student Exercises
Chapter IX. Lifetime and Testamentary Trusts Commonly Used in Estate Planning: Overview and Purpose; Lesson Objectives; The Concept of a Trust; Creation of Trust and Trust Terminology; Using Trusts in Estate Planning; Review of Inheritance and Estate Tax Impacts of Trusts; Use of Trusts in Forest and Woodland Estate Planning; Revocable Living Trusts; Student Exercises
Chapter X. Life Insurance in Estate Planning: Overview and Purpose; Lesson Objectives; Insurance Terms and Definitions; Types of Insurance Policies and Products; How is Insurance Used in Estate Planning?; Inheritance, Estate, and Gift Impacts of Using Insurance; How Much Life Insurance Should I Buy?; Student Exercises
Chapter XI. Planning an Estate That Involves Forest Land: Overview and Purpose; Lesson Objectives; Pre-planning Decisions; Several Key Decisions in Any Plan That Involves Forest Land; Strategies to Employ in Planning Forest Land Estates; Practical Problems in Forest Land Estate Plans; Student Exercises
Chapter XII. Planning Estates that Involve Forest Land Assets: Overview and Purpose; Lesson Objectives; Problems
Chapter XIII. Let's Plan Your Estate: Overview and Purpose; Lesson Objectives; Determining Objectives; Taking the Inventory; Family Information - Form 1; Estate Summary - Form 2; Estimated Federal Estate and State Inheritance Tax; Income Information - Form 3; Miscellaneous Information for Estate Administration - Form 4; Estate Valuation - Form 5; Appendix A (State Inheritance, Estate and Gift Taxes); Estate Planning Glossary