Making the Best of Bad Situations: Part 2 (Death of Client, Terminal Illness, Foreclosure, Debt Relief)

This course helps the practitioner understand planning considerations and potential problems when certain "bad situations" happen to his/her client. The focus of this course is on tax and non-tax issues involving the death of a client, terminal illness, foreclosure, debt relief, damages and medical expenses.


**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.


*Recognize the tax and non-tax issues of various circumstances that a client classifies as bad situations pertaining to Death of a Taxpayer

*Recognize the 10% AGI threshold for medical expenses on a tax return mean for the taxpayer

*Identify planning for the reduction of death taxes and making sure a beneficiary does not waste an inheritance

*Identify which area could cause the most problems under a tax deferral of retirement income

*Recognize the limitations of Form 1040, Schedule A

*Recognize basis for beneficiaries

*Identify the basic exclusion amount that a decedent can pass through an untaxed estate

*Describe the Helping Families Save Their Homes Act

*Identify the best way to handle medical expenses when the client has passed away

*Identify the DSUE amounts available

*Describe the due date and when it's wise to make a portability election

*Identify a non-taxable damage award and when it applies

*Recognize how to best deduct legal expenses


*Death of a Client

*Terminally Ill Issues

*Foreclosure Issues

*Debt Relief 

*Medical Expenses

*Schedule A and AGI Limitations

*Casualty Losses

*"Pease" Limitations

Additional Information

Designed For

*Financial Planners



Advanced Preparation




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