This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

• How to determine if a Form 706 is required based on the gross estate and basic exclusion amount.

• Why life insurance proceeds are a common exam trap for inclusion in the gross estate.

• The critical role of the unlimited marital deduction and its U.S. citizen spouse requirement.

• When and why the portability election necessitates filing a Form 706 even for non-taxable estates.

• The standard nine-month filing deadline for Form 706 and the available extension.

For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep