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Top Mistakes, Do's, Don'ts, Tips and Tricks

Is probate really necessary? How do you distinguish between probate and non probate assets? What are the top mistakes executors commonly make and how can you avoid them from happening? How do you handle difficult, non-divisible, joint, hidden and unusual assets? In this comprehensive, all-inclusive guide to everything probate, you'll get answers to these questions and so much more. Whether you are new to the probate process, or are just needing a refresher, this course is for you. From petition to inventory to creditors to closing - this program walks you step by step through the process and procedures, while addressing sticking points along the way. Register today!

  • Get the probate process and procedure - clarified.
  • Find out top alternatives to (and ways to get out of ) probate.
  • Get effective tips for proving the validity of the will and petitioning it, as well as how to handle lost wills.
  • Should there be early distribution of assets? Learn how to quickly identify and decide how to handle this potentially problematic procedure.
  • Review procedures for locating and marshalling assets, with sample forms and documents.
  • Discover which valuation method is best and how to ensure accurate appraisals.
  • Get proven tactics for handling 401ks, IRAs, pensions, stocks and retirement plans.
  • Gain tips for handling Medicaid estate recovery and VA liens.
  • Tackle top trust traps in probate and walk through the final accounting process.
  • Identify key tax deadlines and get techniques for preparing, coordinating and filing returns.

Day 1: Process, Initial Steps, Executor Mistakes, Assets, Wills and Probate Problems

  1. Probate Process and Procedure - Clarified
    8:30 - 9:30, Debby Rosenfeld
    1. Jurisdiction and Venue Issues
    2. Laws of Intestacy/Heirship; Exceptions
    3. Situs vs. Ancillary
    4. Process and Procedures: Informal vs. Formal
    5. Initial Steps in the Process
    6. Executor Appointment; Taxpayer ID
    7. Letter of Administration
    8. Sample Executor Letter to Beneficiaries
    9. Sample Forms and Documents
  2. Is Probate Necessary? Alternatives and Avoidance
    9:30 - 10:00, Debby Rosenfeld
  3. PROBATE VS. NON PROBATE ASSETS - Which Ones Can Pass Outside of Probate?
    10:15 - 11:00, Debby Rosenfeld
  4. INITIAL CONFERENCE and Hearing - Timeline, Documents, Statements and Complications
    11:00 - 11:30, Herman Max Leibowitz
  5. ESTATE ADMINISTRATION: Ensuring Executors Know Their Duties
    12:30 - 1:30, Jeffrey A. Asher
    1. Informing PR of Duties (w/ Sample Forms and Documents)
    2. Top Mistakes EXECUTOR's Make
    3. Liability Landmines
    4. Dealing with the Unprofessional Administrator
    5. How Much Compensation Should They Receive?
  6. WILLS: Proving Validity, Petitioning and Top Problems
    1:30 - 2:15, Jeffrey A. Asher
    1. State Law, Review and Proving Validity Issues
    2. Petition to Admit Will to Probate
    3. Handling Lost Wills, Partial Revocations
    4. Spousal Election Against Will/Contests
    5. Payment of Death Taxes Will Requirement (Non Probate Property Subject to Tax)
    6. Wills Without Required Formalities
  7. ASSETS: How to Inventory, Locate, Secure, Value and Manage
    2:30 - 3:30, Herman Max Leibowitz
    1. Early Distribution of Assets?
    2. Procedures to Locate and Marshall
    3. Sample Forms; Documents
    4. Valuation Methods, Appraisals
    5. Valuing Property
    6. Assets w/ Negative Equity
    7. Reporting of Annuities
    8. Difficult, Non-Divisible, Joint, Hidden and Unusual Assets
    9. 401ks, IRAs, Pensions, Stocks and Retirement Plans
    10. Loaned Items
  8. Top PROBLEMS in Probate
    3:30 - 4:40, Elizabeth Forspan
    1. Locating Unknown/Missing Heirs - Best Methods
    2. Intestate Estates
    3. Death of a Business Owner/Valuation Issues
    4. Pre-Mortem Probate
    5. Property: Exempt; Marital; Homestead
    6. Real Estate Tied up Due to Numerous Intestate Heirs
    7. Taking of Personal Property Upon Death
    8. Special Proceedings (Petition to Sell House, Partition Proceedings)
    9. Proving Distributees After Death (Not by Decedent)

Day 2: Disputes, Insolvent Estates, Creditor Issues, Trusts, Taxes and Final Accounting

  1. When the Love is Gone . . . Tips for Resolving FAMILY DISPUTES in Probate
    8:30 - 9:00, Jeffrey A. Asher
  2. MEDICAID Estate Recovery, VA Liens and More
    9:00 - 10:00, Jeffrey A. Asher
  3. TRUST Traps in Probate
    10:15 - 11:00, Jeffrey A. Asher
    1. Living Trusts, Revocable - Tax and Probate
    2. Bypass, Testamentary and Disclaimer Trust Issues
    3. The ABLE Program/AB Trusts; Special Needs Trusts
    4. Trusts Serving as the Beneficiary
  4. TAX Reporting and Post-Mortem Tax Matters
    11:00 - 12:00, Martin L. Lerner
    1. Introduction: Understanding the Estate Tax
    2. Tax Deadlines, Filing Decisions, Threshold Amounts, Filing Procedures, etc.
    3. Estate Tax Return Fundamentals
    4. Completing the 706 and State Estate Tax Returns (e.g., ET-706)
    5. Reporting the Step-Up Basis - Form 8971
    6. Post-Mortem Tax Elections
    7. Other Considerations
    8. Hints, Tips and Suggestions
  5. CREDITOR CLAIM Conundrums
    1:00 - 2:00, James D. Reddy
    1. Claim Notice, Priority, Rights and Rejection
    2. What Constitutes a Creditor's Claim?
    3. Actions Required to Present a Claim
    4. Secured vs. Unsecured Claims
    5. Interest on Claims
    6. Common Creditor Issues in a Solvent Estate
    7. Why Advertise for Claimants and/or Creditors Even if no Formal Administration?
    8. Creditor's Ability to Create a Probate Estate
  6. FINAL ACCOUNTING in Estate Administration: Everything You Need to Know
    2:00 - 3:00, James D. Reddy
  7. Handling DISTRIBUTIONS and Closing the Estate Without a Hitch
    3:15 - 3:40, Steven A. Kass
    1. Preparation, Obtaining Releases and Waivers
    2. Orders, Timing of Distributions, Releases
    3. Mitigating Distribution-Related Tax Consequences
    4. When Beneficiaries are Minors
    5. Partial Distributions, Disclaimers and Divestment Traps
    6. Alternative Methods: Knowing Your Options
    7. Ensuring Thorough Accounting and Settlement of the Estate
    8. Extending, Closing and Re-Opening an Estate
  8. Ethical Practice Considerations and Concerns in Probate
    3:40 - 4:40, Steven A. Kass
    1. Attorney Fee Agreements
    2. Financial Abuse of the Elderly and Disabled
    3. Treatment of Fiduciaries (Executors vs Trustees)
    4. Removing/Discharging PR for Dilatory Conduct
    5. Attorneys' Obligations to Executor and Opposing Parties
    6. Attorneys or Attorneys' Relatives Named as Beneficiaries
Register Now
PROBATE: Everything You Need to Know
  • Course ID:
  • Duration:
    1 day
  • Price:
  • Date:
    Thursday 3/8/2018
  • Time:
    8:30 am to 4:40 pm
  • Location:
    Doubletree Hotel Akron/Fairlawn - Akron, OH
    3150 West Market Street
    Akron, OH 44333