Acc 487

Estate Planning





Here is the syllabus for Acc 487 Spring 2004 in pdf format






Completed for the semester, although I may offer one extra credit assignment. Last homework is down below, due April 6, 2004.






Here is a sample Trust return from your corporate tax book. Here is the problem associated with the answer.  This example is more complex due to extensive DNI computations – recall your problem virtually all income is distributed.  r.. ç NEW





Grades will be on blackboard.



Items relating to April 6, 2004 class.   NEW ç ç


1. Homework (last to be assigned) for 15 points, due NOW.


Query: if an estate or trust receives a section 179 deduction via a passthrough (for example, from a partnership or a sub S corp K-1), we already know the trust cannot use a 179 amount (or do we?). But, (and here is the minor research question) can the 179 amount be allocated or somehow “passed out” to the beneficiaries as opposed to losing it? Otherwise, it looks like it is lost.  Recall in Trust accounting, rules used for an individual are used in cases where it may not be clear or stated in trust taxation.  You may research any source, you may talk to any persons, and of course, you may talk with your classmates.  I don’t expect a technical analysis, but you should give me some basis for your conclusion. This is probably a one pager.


2. You might need this for the exam.


DNI Examples


3. Trust return is posted.  Also, I should easily be able to get a sample posted later. I didn’t make it clear earlier so it is due April 27th.


4.  The TEST TWO is posted! EXAM DUE BEGINNING OF CLASS, April 20th  NO CLASS APRIL 13th, but you are expected to work on the test at that time.




Class Materials



Descent and distribution – Intestate (i.e., what happens without a Will!)  Distribution Texas Style


Sample Will

Sample Health POA

Sample Living Will  [sometimes called Physician’s directive]

Sample Property POA





Older stuff for an older nonused book but might have a few jewels of interest: Chapter 1 and 2 outline/overview  Chapter 3 overview



Link to RIA Checkpoint:




Here is a link to a brief page with citation examples:


Citation page






Enjoy this “classic” will that many generations of law and estate planning students have passed around! Many people still feel this way, particularly about the lawyer.





While not exactly estate planning, I thought this “will” says it all to/for pet owners.



Stevenson Center Web Site-

Dedicated to pet care after the pet “owner”  is gone and perhaps no one else wants the pet or the owner wants to make sure their friends are well taken care of for the rest of their lives…


Sadly, the poodle Jill has recently passed away.


You might want to check on the present residents as well as the deceased friends; they all have an interesting story to share.  Obviously, only pet owners will enjoy these pages.



Estate Planning for Pets- An interest of mine…


You might want to visit for some useful stuff. I also hope to write a paper in this area in the near future.


Possible change of status of Pets in Colorado



Here is a link to the Living Will, POA, and Health POA examples I will show in class:


(you may want to look around at the main site ( for other interesting things, some of which we will look at later in class as well.  I highly respect Mr. Ice, the author of the site.




Here is a sample interoffice memo and I will provide another better example here later and/or in class.


Here is a paper I did a few years ago for law school.  I scanned this in thus it is not perfect. Also, in those days, we didn’t have italics in certain fonts, so we underlined items. Also realize that most of the text is out of date. It is not in html format.




The paper by myself entitled The World Of Trusts- Or- Can You Trust What You Hear About Trusts is attached in Word format.  It is also in HTML format, but some of the more extensive formatting has been lost, but otherwise is quite easy to read, particularly since the footnotes are in HTML and easy to click to!!! 



NOTICE TO ALL CLASSES WHO TURN IN PAPERS TO ME: I expect to use (an internet plagiarism checker) in the future.  Accordingly, either quit cut and pasting or cite your sources. THIS IS YOUR FAIR WARNING!


Hints for the estate tax return preparation





Paper Topics


Here are possible topics for your paper. UPDATED March 12, 2003. Be imaginative and come up with something interesting to yourself!


Final Paper Clarifying statement:  for graduate students, your paper must be approved by me in advance, it must be at least 25 pages of text, not counting bibliography, cover sheets, etc., and it will be reviewed in relation to other graduate student work. I expect scholarly work from you.


Undergraduate  students must write at least a 10 page paper, not counting bibliography, etc. 


While I have lenient in the past, this semester I will not accept a late paper without a serious deduction of points. 


Obtaining RIA Checkpoint Initial Password



è      è NOTE:  For this initial setup ONLY,

 you have to be using the SHSU system

 or a linked SHSU computer ONLY

 at this initial setup time. ç ç

UPDATE:  While the URL at the library has been updated so there is no problem, you may still prefer to follow this procedure as it actually is faster.  One nice thing is it has a help line phone number for you if you have problems. A letter from RIA:



As part of your class work for this semester, your school has made RIA Checkpoint® available to you. Checkpoint is the premier web-based research tool available to accounting and tax research professionals.  Thousands of users rely on Checkpoint as their primary research tool, and you will be getting a head start on learning how to use this valuable web-based resource.

Registration for Checkpoint is restricted.  You will have to register using only certain computers that are recognized by the Checkpoint system.  During registration, you will have to supply your name, e-mail address, and semester enrolling for to receive your Checkpoint User Name and Password.  Checkpoint Registration would then send a User Name and Password via email for accessing Checkpoint.  After you have registered, you can use Checkpoint from any computer that has Internet access. 

To register:

1.       Go to one of the computers that are within the institution intranet.

2.       Launch a browser, such as Internet Explorer or Netscape.

3.       Type the following in the “address” or “URL” field of the browser:

4.       Press Enter.

5.       Please fill in the required information on the registration page.

6.       Click Register, to submit the information.

7.       If you have any questions please contact RIA’s Technical Support team at 1-800-431-9025, prompt 4 anytime Monday-Friday 9:00am-8:00pm Eastern Time.


Or, use this method:


Go to SHSU home page (  You will see the library noted as a link. Click it.  From the Library Home web page you will see “Resources”, which then activates a bunch of things on screen, so click on "Databases and Indexes" then:


under Subject List click on "Business and Economics", then you see a lot of things, but


scroll down to RIA Checkpoint.


There is an "initial login" link students will use to get their id/password.  YOU MUST BE USING AN SHSU computer (and/or perhaps dialin) to get the menu shown to you in class, else you get a warning you are not using the correct computer “newtwork”.  


You can use your home email address (you don’t have to use your SHSU email address) to obtain the password etc.  Once you have the password, you can use any internet service provider system (ISP) anywhere and gain access to RIA. In other words, you could use AOL, MSN, SWBell, or whatever internet service provider you use.  In the past, however there was some trouble with anyone who had a “” address, it would not accept that email address. I don’t know if this was fixed or not. If so, just use your SHSU or other email address you may have.


After that you can simply click on the RIA Checkpoint link itself at your home or any other computer connected to the net.


All this security is to assure only SHSU students or other authorized folks get access to this program.


Otherwise, if you can’t get to the SHSU system, use the password given to you by the book, but it is not of full functionality as the above password technique.  I can help you get it set up if you need help and are out of town and cannot get access to the system. 





Here is a link to We will eventually download the  30 day evaluation Excel Program add in.  DO NOT LOAD THIS PROGRAM ON A UNIVERSITY NETWORKED COMPUTER, although you can download it there and take a copy to your own computer. This program is to be used only on your own personal computer, and you must have Excel and Windows 95+. 


You will be required to provide Zcalc your email address, but that is so they can email you your 31 day password.  We will use this for a class project, so feel free to download it. 


Once you have downloaded it and loaded it onto your computer, you then go to your main start screen and you will see an icon that looks like the Excel Spreadsheet.  It also gives you a choice as to either Excel 95/97 or Excel 2000.


Your icon should have a subtitle that says zCALC Tool box.  Merely click on it, and start playing. It may ask you if it is ok to run, since it has macros, and simply click ok or whatever.  The main fields you will use while in demo mode are the “planners” and forward/back arrows.  Later start playing with your own data by establishing new clients and of course feel free to play with your own data. There are about 10 sample programs (planners) that we have been or will be talking about in class.