Estate Planning Practicum

Catalog description

7232. 2 hours. This course introduces planning strategies for transferring wealth during lifetime and at death pursuant to Texas law, and it gives students opportunities to draft common estate-planning documents. Potential topics include will and trust drafting, durable powers of attorney, healthcare advanced directives, and planning for spendthrift beneficiaries, disabled beneficiaries, beneficiaries with behavioral issues, the Texas probate system, and Texas community property. The course also introduces basic concepts of gifts to minors and other dependents, estate and gift taxes, transferring ownership of life insurance, with emphasis on irrevocable life insurance trusts; and introduction to the generation-skipping tax, guardianship, and Medicaid eligibility.