Cfpr Estate Planning

Front 1

FILING REQUIREMENTS

Back 1

1.IRS FORM 709

2. RETURND DUE 4/15 OF FOLLOWING CALENDAR YEAR, OR UPOND ESTATE TAX RETURN IF EARLIER

3.VALUATION DATE IS THE DATE OF COMPLETION FOR EACH GIFT

Front 2

RETURN IS REQUIRED TO BE FILED WHEN

Back 2

1.COMPLETE, PRESENT INTEREST GIFTS EXCEEDING THE ANNUAL EXCLUSION

2. FUTURE INTEREST GIFTS OF ANY AMOUNT

3. SPLIT GIFTS WITH SPOUSE

4. A GIFT FOR WHICH THE QTIP ELECTION IS TAKEN

5.PARTIAL INTEREST CHARITABLE GIFT

Front 3

RESERVED POWERS THAT CAUSE A GIFT TO BE INOMPLETE

Back 3

1. POWER TO REVOKE THE GIFT

2. POWER TO NAME ADDITIONAL, DIFFERENT, OR ALTERNATE BENEFICIARIES

3. POWER TO ALTER THE PROPORTIONATE SHARES OF THE BENEFICIARIES

Front 4

ANNUAL EXCLUSION

Back 4

1. DONEE MUST BE ABLE TOIMMEDIATELY ENJOY

2. MAX AMOUNT PER YEAR IS $14K PER DONEE

3. ONLY INCOME BENEFICIARIES HAVE A PRESENT INTEREST

4. TRUST INCOME BENEFICIARIES ARE DEEMED TO HAVE PRESENT INTEREST WHEN

-2503(B) MANDATORY INCOME TRUST

-BENEFICIARY HOLDS A CRUMMY POWER

Front 5

GIFT SPLITTING

Back 5

1)EACH SPOUSE MUST BE A U.S. CITIZEN\

2)MUST BE MARRIED AT TIME OF GIFT

3)BOTH MUST CONSENT TO SPLITTING

4)BOTH SPOUSES ARE RESPONSIBLE FOR ENTIRE RETURN

Front 6

TRANSFERS EXEMPT FROM GIFT

Back 6

1.POLITICAL CONTRIBUTIONS

2.DIRECT AND EXCLUSIVE PAYMENTS FOR MEDICAL AND TUITION EXPENSES

3.