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Divorce Transfers & Settlements

By Danny Santucci

Taxes
2 CPE Credits
Add to Cart – $58
Course - Divorce Transfers & Settlements
dvr2023
PDF Book
Self-Study
Basic
100 Minutes
Topics Learning Objectives Description Compliance Instructors

Major Topics

Learning Objectives

  1. Identify the various forms of marital property and how to proceed with a tax structured property settlement stating the benefits of premarital agreements to avoid potential divorce problems.
  2. Recognize property settlements under ?1041 by: a. identifying its application to interspousal and third party transfers, b. specifying the factors that determine whether or not a property transfer is incident to divorce under ?1041, c. determining property basis for the transferor and transferee spouse under ?1041.
  3. Identify remedies for the deferred tax pitfall of ?1041 by: a. determining deferred tax liability of interspousal purchases, b. recognizing the tax deferral of ?1031 exchanges, c. specifying the key elements of the home sale exclusion and stating their application; d. recognizing benefit distribution problems and the tax advantages of QDROs.

Course Description

Participants will learn how to apply, implement, and evaluate the strategic tax aspects of marital dissolutions and living together arrangements. Current perspectives on property transfers and asset divisions are examined with an emphasis on planning considerations. This mini-course reviews property settlements and other transfers incident to divorce. Basis allocation, third party transfers, and purchases between spouses are also examined. Common pitfalls for the unwary such as transfers in trust, installment notes, and purchases between spouses are analyzed. Application of these tax principles is exampled in selected asset divisions of the residence, business interests, insurance, and pension benefits.

Compliance Information

Advanced Preparation

None

Field of Study

Taxes

Credits

2 Credits

Published Date

January 26, 2023

Revision Date

February 22, 2024

Course Authors

Explore Danny >>

Danny Santucci

Huntington Beach, CA
Author, Santucci Publishing

Danny earned his Bachelor of Arts in Political Science from the University of California at Irvine in 1969. He received his Juris Doctorate from Boalt Hall School of Law, University of California at Berkeley in 1972, at which time he began practice as a tax attorney in Southern California. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines & Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders, in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning.

About Instructor Read Less
Topics

Overview

Participants will learn how to apply, implement, and evaluate the strategic tax aspects of marital dissolutions and living together arrangements. Current perspectives on property transfers and asset divisions are examined with an emphasis on planning considerations. This mini-course reviews property settlements and other transfers incident to divorce. Basis allocation, third party transfers, and purchases between spouses are also examined. Common pitfalls for the unwary such as transfers in trust, installment notes, and purchases between spouses are analyzed. Application of these tax principles is exampled in selected asset divisions of the residence, business interests, insurance, and pension benefits.

Course Details

  1. Identify the various forms of marital property and how to proceed with a tax structured property settlement stating the benefits of premarital agreements to avoid potential divorce problems.
  2. Recognize property settlements under ?1041 by: a. identifying its application to interspousal and third party transfers, b. specifying the factors that determine whether or not a property transfer is incident to divorce under ?1041, c. determining property basis for the transferor and transferee spouse under ?1041.
  3. Identify remedies for the deferred tax pitfall of ?1041 by: a. determining deferred tax liability of interspousal purchases, b. recognizing the tax deferral of ?1031 exchanges, c. specifying the key elements of the home sale exclusion and stating their application; d. recognizing benefit distribution problems and the tax advantages of QDROs.

Intended Audience —

Advanced Preparation — None

Field of Study — Taxes

Credits — 2 Credits

IRS Program Number –

Published Date – January 26, 2023

Revision Date – February 22, 2024

Course Authors

Explore Danny >>

Danny Santucci

Huntington Beach, CA
Author, Santucci Publishing

Danny earned his Bachelor of Arts in Political Science from the University of California at Irvine in 1969. He received his Juris Doctorate from Boalt Hall School of Law, University of California at Berkeley in 1972, at which time he began practice as a tax attorney in Southern California. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines & Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders, in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning.

About Instructor Read Less
Add to Cart – $58

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