You can now keep your DPS 8.0 completely up to date by downloading the latest updates from this web page. Select this link to select the update(s) you would like to download.
You may also receive a FREE evaluation version of DPS 8.0 on CD or download by clicking on this link. Your evaluation version is a fully functional DPS 8.0 which allows you to prepare any document. To license DPS 8.0 and receive a PIN which will remove the DEMO watermark and allow you to export documents to your word processor, please e-mail us at Sales@DPS8.com, call us at 800-454-7703.
Listed below are a number of frequently asked questions which will assist you in most effectively using DPS 8.0. Select the FAQ you want to view.
You recently received a CD-ROM of DPS 8.0 (Document Production System), an innovative new software program that helps you create custom legal documents in four areas of law:
- Estate Planning with 709 and Projections
- Probate with 706
- Limited Liability Companies
- Corporations
- Charitable
- Income Taxes
As you install and use DPS 8.0, remember that technical support is available free of charge by calling 800-454-7703 during our normal office hours.
How is DPS 8.0 different than a form fill program?
With a form program, you are using your computer solely as a fancy typewriter to fill in the blanks of a form. On the other hand, DPS 8.0 asks for only the information that it needs to assemble a customized document. DPS 8.0 harnesses the power of your computer to guide you as you quickly and accurately fulfill your clients' needs.
Save time and hence money because DPS 8.0:
- Links all information within and between documents
- Determines & asks for only the information necessary to assemble the document
- Adapts all gender and state specific references automatically
- Performs all necessary calculations
Our install program provides a wizard to guide you, making a DPS 8.0 install simple and quick. It is rare to have trouble installing DPS 8.0, but it does occasionally happen.
If you have problems with installing, remember that along with DPS 8.0 you get free technical support. All you have to do is call our toll free line, and a member of our staff will talk you through any problem.
The cost to you depends upon your firm size and which documents are available in the state where you practice. You can determine your price for DPS 8.0 on this web site. If you prefer to wait for snail mail, call us and we can send you a price list.
When using DPS 8.0 to create documents, you benefit from the timesavings of using a computer without having to sacrifice the flexibility necessary to create a custom document for each client. DPS 8.0 provides multiple ways for you to modify documents. Using these features you can transform our DPS 8.0 into your DPS 8.0.
Export: You may choose to have your document created in a word processing file format. Produce your document and choose the format from a drop down list. Enter a filename and path for the completed document. Edit this document with your word processor as you would any other file.
Edit Provisions: To permanently edit the language for all your documents, open any client's document and from the Edit Menu choose Edit Provisions. Highlight the language to be edited and click the mouse. The language becomes available for you to edit, delete, etc. The changes made here become permanent for a preparer and will be included in all future documents which contain the modified provision.
With DPS 8.0 it is fast and easy to make changes to a prepared document.
Choose Open Client. At the Open Client or Guide Screen, look on the Clients Tab for the name of the file you want to change. Highlight the description and choose Open. Choose the document that you would like to modify and choose Open again. The Outline will help you locate the screen where the change is to be made and allow you to go directly to that screen.
In DPS 8.0, items such as a name, address, gender and social security number are entered once within an area of law. Subsequently, to make a change, you need only enter the change in one place. DPS 8.0 will automatically make that change everywhere it is needed in all of the documents for that client. This feature not only saves you time, it insures that your documents are accurate and consistent.
Consider these useful ideas:
- Choose your guide effectively when starting a new document. Guides are essentially default answers. If you choose a guide whose default answers generally match your client's situation, you will be able to quickly enter specific information, scan through the screens and produce a custom document.
- Mirror existing client answer files whenever appropriate. Whether you need to amend a document, create a 709 for the current year, or create matching wills for a husband and wife, mirroring can significantly increase your productivity. To create a mirror, first establish a new client file and then indicate the area of law and document type. Choose Open. Instead of choosing a generic guide from the Guides Tab, go to the tab labeled Clients. Highlight the original client description and choose Open. You will make a second answer file that is identical to the first. Make any necessary changes and produce the mirrored document.
- Use the Outline to move between sections of screens. The outline will help you quickly locate the screen you need and "jump" to it.
- Allow DPS 8.0 to ignore screens that you do not need. In working with DPS 8.0, you will notice that larger documents allow you to mask off large blocks of screens. For example, when creating Federal Form 706, one of the initial screens asks if you will be entering information about the decedent, the assets or the heirs. Allow DPS 8.0 to minimize processing and retrieval time by using these screens to indicate the areas where you plan to work.
- Only produce pages that you want to see. When working with larger documents and tax forms, DPS 8.0 allows you to specifically list the pages that you would like to have produced. No time is wasted creating unnecessary pages. Using this feature will get you the documents and forms you need in least amount of time.
We are pleased to provide you with easy to use Estate Tax Projections within the DPS 8.0 Estate Planning area of law. After answering questions regarding financial information for your client, by selecting the estate planning techniques you have suggested, you can prepare complete estate tax projections in a few minutes. The projections correctly calculate federal estate tax and state estate for all states. The following summarizes how the estate projections are to be used:
- Purpose of estate tax projections.
- The estate tax projections are intended to show how much more property will pass to your client's heirs as the result of the estate planning techniques you have suggested.
- By explaining to your client the significant savings he/she can achieve by utilizing the estate planning techniques you have suggested, your client will understand the estate planning process and benefits and be happier with the service you have provided.
- You can assure that selected estate planning techniques will benefit your client.
- Structure of estate tax projections.
- Because the estate tax projections are intended to show how much more property will pass to your client's heirs as the result of the estate planning techniques you have suggested, Projection # 1 shows what would happen if your client were to die without any changes in his/her estate plan. This is the Base Amount which passes to your client's heirs.
- Projection # 2 shows what would happen if one estate planning technique was implemented. Such a technique might be:
- The utilization of a family or credit shelter trust.
- Projection # 3 shows what would happen if the first and an additional estate planning technique were implemented. Such techniques might be:
- The utilization of a family or credit shelter trust.
- Making pre-death transfers between spouses so that the family or credit shelter trust is fully funded regardless of which spouse dies first.
- Projection # 4 shows what would happen if the first and second and an additional estate planning technique were implemented. Such techniques might be:
- The utilization of a family or credit shelter trust.
- Making pre-death transfers between spouses so that the family or credit shelter trust is fully funded regardless of which spouse dies first.
- Making annual gifts to the client's heirs.
- If 4 projections are prepared, pages 1 and 2 summarize the estate planning techniques and amount of property which will pass to your client's heirs under each projection. The first column of numbers shows the amount which will pass to heirs under the assumptions of that projection. The second column of numbers shows the amount which will pass to heirs under the assumptions of projection # 1, the base amount to heirs. The third column of numbers shows the additional amount which will pass to heirs under the assumptions that projection when compared to the amount under projection # 1, the base amount to heirs. The fourth column of numbers shows the additional amount which will pass to heirs under the assumptions that projection when compared to the amount under previous projection, the additional saving you are achieving for your client.
- Pages 3 through 6 summarize, for each projection, the estate planning techniques and more detailed information regarding the assets in each estate, the death costs of each estate and the amount of property which will pass to your client's heirs. The remaining pages show the detailed assumptions and calculations for each estate.
- Financial questions asked in estate tax projections.
- The first few screens ask information about your client and your client's family, such as names, ages and number of children.
- The next few screens ask for assumptions which will be used for all of the projections, such as when the first and second deaths occur, the annual percentage increase in value of assets and the administrative costs (such as attorney and executor fees) as a percentage of each estate's gross estate.
- The next few screens ask about your client's prior gifts and credits. These questions are the same as would be asked if you were to fill out a federal estate tax return.
- The next screen asks for the current value of property which your client owns in joint tenancy with your client's spouse.
- The next few screens ask about the current value of your client's assets and liabilities. These questions are the same as would be asked if you were to fill out a federal estate tax
return.
- If your client is married, the next few screens ask about the current value of your client's spouse's assets and liabilities. These questions are the same as would be asked if you were to fill out a federal estate tax return.
- Planning techniques asked in estate tax projections.
- For each of the projections, if your client is married, the first few screens ask how much property will pass to the spouse upon the first death. Choices include:
- Assets of the first estate after the death costs are paid.
- An optimum marital deduction amount which allows the maximum amount to pass to the heirs (or Family or Credit Shelter Trust) without payment of any federal estate tax.
- A percent of the adjusted gross estate.
- The greater or lesser of an optimum marital deduction amount which allows the maximum amount to pass to the heirs (or Family or Credit Shelter Trust) without payment of any federal estate tax or a percent of the adjusted gross.
- The greater or lesser of an optimum marital deduction amount which allows the maximum amount to pass to the heirs (or Family or Credit Shelter Trust) without payment of any federal estate tax or a dollar amount.
- For each of the projections, if your client is married, the next few screens ask how much property will be transferred by the wealthier spouse to the other spouse before the first death. Choices include:
- A percentage of the current adjusted gross estate of the wealthier spouse.
- An amount so that if the other spouse were to die immediately, such spouse would be able to fully utilize the unified credit available.
- An amount so that the adjusted gross estate of each spouse is equal to the adjusted gross estate of the other spouse.
- For each of the projections, the next few screens ask if additional life insurance is to be purchased by a life insurance trust which has been or will be established by your client. Choices include:
- Insurance on your client, your client's spouse and/or on the survivor of your client and your client's spouse.
- Face value of insurance being a dollar amount or a percentage of the death costs calculated for the prior projection.
- Premiums are to be paid by your client, your client's spouse, equally by your client and your client's spouse or by a third party (such as under a split dollar agreement).
- For each of the projections, the next few screens ask if gifts are to be made by your client and/or your client's spouse. Choices include:
- One-time gift or annual gifts.
- Gifts are to be made by your client, your client's spouse or equally by your client and your client's spouse.
- The amount by which each gift exceeds the annual gift exclusion, thereby reducing the lifetime unified credit of your client and/or your client's spouse.
Advanced Logic Systems, Inc. is pleased to provide you with an easy-to-use system which allows you to prepare federal estate tax returns, probate inventories and schedules for state death tax returns quickly and without errors.
These documents are within the probate area of law.
Your probate files no longer have to be pieces of paper stuck in a file waiting for the passage of time. You may prepare any part of the inventory or death tax returns any time. So you can enter the information as you receive it. The system allows you to quickly get to the appropriate assets or liabilities to be entered as soon as you have that information. This allows you to organize your file and organize the probate process easily, quickly, safely and conveniently. As you receive one or more bits of information regarding one or more assets, merely enter that information into the system. That information is then stored for when you wish to make the various calculations and print out the returns.
After answering a few general questions regarding the estate to be probated, you designate what information regarding the estate you wish to enter. This structure allows you to go directly to the screens asking for the information you desire to enter, bypassing irrelevant screens. The structure of the system is as follows:
- You initially provide basic information regarding the estate, including whether assets will be valued at death of death or on an alternate valuation date. If you decide to change the valuation date, merely change this screen; and all calculations will be automatically changed.
- Information regarding the decedent, the executor and the attorneys.
- If you or someone else has used the system to prepare other probate documents for this estate, much of the information for the returns will automatically be entered into the system for you. Because information is linked between all documents in the probate area, once information has been entered for a document regarding the decedent, the executors, the attorneys, the heirs, etc., that information is automatically available to all probate documents produced by the system. Consequently, if such information was entered when the estate was originally opened, you do not have to re-enter the information when you are preparing the probate inventory or federal estate tax return. This allows you to more quickly prepare the necessary documents and minimizes errors in the preparation of those documents.
- Information regarding the decedent
- Information regarding the will and codicils
- Information regarding gift tax returns
- Information regarding the executors
- Information regarding the attorneys
- Information regarding assets and liabilities
- When you enter information regarding assets and liabilities, you select which of the various categories of assets and/or liabilities you wish to use. These categories of assets and liabilities are consistent with the schedules included in the federal estate tax return. You may select one or more asset or liability categories and automatically bypass those categories not selected.
- Having chosen a category of asset or liability, you then provide the following requested information regarding such asset or liability.
- The system includes all information required by the IRS in connection with the preparation of the Federal Estate Tax Return. Once a type of asset or liability is designated, the system automatically prompts you for what information needs to be provided regarding that asset or liability. Except for that information which is absolutely necessary, you are given the option of either completing the information or not. As an example, while the IRS does require CUSIP numbers for stocks and bonds, in the event you do not wish to enter the CUSIP number, the system will correctly prepare the return omitting that information. On the other hand information such as the name of the stock is required because the return would make no sense without that information.
- Description of the particular asset or liability, including general information regarding this type of asset or liability, such as address, legal description, number of shares, par value, etc.
- Where the asset is traded, if anywhere
- Information regarding the valuation of that asset on date of death, and on alternate valuation date, if appropriate. The system's flexibility allows you to enter the valuation information in a number of different ways. As an example, with stocks, the system allows you to enter valuation information:
- on high and low per share basis, with the system automatically calculating the correct average per share value and total value,
- on an average per share value with the system automatically calculating the total value, or
- the total value of the asset with the system automatically calculating the per share value.
- Information concerning dividends, interest, rent or other income attributable to the asset
- If valued at an alternate date, whether the asset was disposed of within six months after death
- You may attach additional schedules to any of the asset or liability schedules with the totals from those additional schedules included in all calculations. This allows you to have an unlimited number of assets or liabilities of any category. To produce these additional schedules merely set up one or more continuation clients which have the additional schedules containing information regarding the additional assets and liabilities.
- Information regarding heirs, recipients and bequests
- This section includes information regarding names and related information of heirs or distributees under the will. Heirs are those heirs of the decedent in an intestate estate. Distributees are those who take under the decedent's will. You may have a spouse and fifteen additional heirs or distributees.
- This section includes information regarding other recipients of property. Other recipients of property are those who receive an asset because it is jointly owned or because it is subject to a beneficiary designation, such as with an insurance policy or a retirement plan. You may have fifteen other recipients of property.
- Information regarding assets specifically received by the spouse, by heirs or distributees and by other recipients of property. These are assets which are:
- specifically referred to in the Will as to be received by a distributee;
- jointly held by the decedent and one of the other recipients which automatically passes to the joint owner upon the decedent's death; or
- subject to a beneficiary designation in favor of the other recipient, such as with life insurance or a retirement plan.
The assets specifically received are referred to based on their schedule and item number. The system then automatically looks up the appropriate value for such assets, whether it be the value at date of death or at the alternate valuation date, and allocates the value of those assets to each recipient.
- Information regarding other bequests to the spouse and the heirs or distributees.
- First the system determines how much the spouse is to receive under the marital bequest. All marital bequest calculations are made automatically by the system. The marital amount can be the balance of the estate, an optimum marital deduction amount (providing for either zero federal tax or zero federal and state tax), a percent of the decedent's adjusted gross estate, a dollar amount, no additional property, or a mixture of any of the above. The marital bequest can include, or not include, specific bequests received by the spouse. The optimum marital bequest may be combined with the greater of, or the lesser of, a dollar amount or a percentage of the adjusted gross estate.
- After the marital bequest is determined, the next step is to determine how the residue of the estate is to be distributed. The residue may be distributed immediately, after a number of years, or upon the death of a person. If the residue of the estate is not distributed immediately, the system automatically calculates the appropriate income value and the remainder value of the residue of the estate.
- You then designate who is to receive the income from the residue before the balance of the estate is distributed. The income may be divided equally among various heirs or by differing percentages for each heir.
- You then designate who is to receive the balance of the residue of the estate after the income interest. The balance of the residue may be divided equally among various heirs or by differing percentages for each heir.
- Once information is entered into the system, all you need to do is tell the system you want to produce the return form, being the federal estate tax return, probate inventory or state death tax return. You will see the form displayed in Adobe Acrobat. You may review it on your computer screen or print it out for review or final filing. The form prints out on your laser printer on plain paper. The system automatically lays the appropriate form on the page, and then the information you have provided the system regarding this particular estate in the appropriate places on that form. The result is a very clean, professional looking product of which you can be proud. You may print whatever portion of the form that you desire. You may print the entire form or print only the pages or schedules needed.
DPS 8.0 helps you produce death tax returns with ease, speed and accuracy.
- Prepares Death Tax Returns in 4 easy steps:
- Enter information regarding the estate
- List assets and liabilities
- Designate who receives assets
- Print desired pages of return
- Provides the preparer with prompts as to what information is required for valid filing, minimizing the need to review instructions
- Links information such as names, addresses, dates and numbers, so information need be entered only once during the entire probate process
- Calculates automatically, including Optimum Marital Deduction and Alternate Valuations
- Allows unlimited number of assets, liabilities and beneficiaries
- Organizes and stores information efficiently and accurately while allowing information to be entered as it becomes known
- Updates automatically provided as state and federal laws change
- Creates death tax returns using plain paper printing
DPS 8.0 will help you quickly and easily prepare estate tax projections which illustrate planning benefits to your clients.
- Prepares Estate Tax Projections in 3 easy steps:
- Enter information regarding assets and liabilities
- Choose planning techniques
- Print desired graphs and/or calculations
- Illustrates 4 different projections, allowing your client to understand the benefits of each of the planning techniques
- Provides built-in life expectancy tables by gender, allowing automatic calculations based on deaths which occur at life expectancy
- Calculates state death tax in all states, including Federal estate death tax credit, when applicable
- Calculates amount passing between spouses for the optimum marital deduction, providing no federal (or no federal nor state) death taxes, with or without the greater or lesser of a percentage or dollar amount of the adjusted gross estate
- Determines the amount of property to be transferred between spouses to equalize their estates or to increase the smaller estate to fully utilize available credits
- Ascertains premiums for additional insurance on husband, wife or second to die with a face amount equal to a dollar amount or a percentage of the death costs from prior projection
- Projects annual gifting and one-time gifts within or exceeding the annual exclusion, correctly reducing the unified credit
- Calculates asset value growth through first and second deaths
DPS 8.0 will help you produce gift tax returns with ease, speed and accuracy.
- Prepares Gift Tax Returns in 4 easy steps:
- Enter information regarding the donor and donees
- List regular and generation skipping gifts made to donees
- List regular and generation skipping gifts made by spouse
- Print desired pages of return
- Provides the preparer with prompts as to what information is required for valid filing, minimizing the need to review instructions
- Links information such as names, addresses, dates and numbers, so information need be entered only once during the entire estate planning process
- Calculates automatically, including Generation Skipping Tax
- Allows unlimited number of gifts to unlimited number of donees, including additional schedules
- Organizes and stores information efficiently and accurately while allowing information to be entered as it becomes known
- Facilitates quick and easy corrections and revisions
- Updates automatically provided as state and federal laws change
- Creates gift tax returns using plain paper printing
DPS 8.0 allows you to create a paper input sheet of the information needed to produce a document, allowing you easily interface with your staff and clients.
Input sheets will:
- Remind the professional what information is needed from the client to produce a document
- Facilitate communication by allowing the professional to fill out the input sheet and pass information to staff for computer entry
- Provide a checklist of all information used to produce a document to aid in reviewing and checking the final document
You can find a list of available documents on this web site. If, you prefer to wait for snail mail, call us and we can send you a documents list.
THIS IS A LEGAL AGREEMENT BETWEEN YOU (EITHER AN INDIVIDUAL OR AN ENTITY) ("LICENSEE") AND ADVANCED LOGIC SYSTEM, INC. ("LICENSOR"), AN IOWA CORPORATION HAVING PRINCIPAL OFFICES AT DES MOINES, IOWA. BY USING THE SOFTWARE CONTAINED ON THE SOFTWARE DISKS, YOU ARE AGREEING TO BE BOUND BY AND TO THE TERMS AND CONDITIONS OF THIS SOFTWARE LICENSE. IF YOU DO NOT AGREE TO BE BOUND BY AND TO THE TERMS AND CONDITIONS OF THIS SOFTWARE LICENSE, DO NOT USE THE SOFTWARE AND RETURN THE SOFTWARE DISKS AND ACCOMPANYING DOCUMENTATION TO LICENSOR.
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