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Keys to an Impeccable Final Accounting and Indisputable Probate in Every Case

The estate inventory is the beginning, and the fiduciary accounting is the grand finale when probating an estate. The two are indelibly linked, and to complete them correctly and thoroughly means to avoid needless delays, disputes and possible re-openings. This practical legal program will help you uncover all estate assets, and record and distribute them efficiently, without error. Register today!

  • Compile a master list of all documents to collect to ensure a complete inventory.
  • Learn what forms of appraisal exist and how to use them to your client's advantage.
  • Don't miss key elements that must be included in the final accounting.
  • Get practical ethical tips for protecting your professional reputation in daily probate practice.
  • Ensure that final estate disbursements will not generate any beneficiary objections.
  • Discuss the key issues in determining fair executor compensation.

  1. PROBATE PROCESS AND TIMELINE OVERVIEW
    8:30 - 9:45, Jeffrey L. Stoehr
    1. Estate Timetable/Checklist and Probate Court Procedure
    2. Small Estate vs. Formal Administration
    3. What the Personal Representative Needs to Know and Do
    4. Opening the Estate - Key Tasks
    5. How Estate Inventory and Final Accounting Fit in the Administration Process
  2. GENERATING THE ESTATE INVENTORY: STARTING THE FINAL ACCOUNTING AT THE OUTSET
    9:45 - 10:45, Jeffrey L. Stoehr
    1. Steps to Obtaining an EIN
    2. Contacting Key People and Organizations to Give Notice, Close Accounts, Provide Instructions, Make Claims, etc.
    3. Obtaining and Reviewing Documents to Identify all Assets
    4. Securing Assets: Associated Challenges and Risks
    5. Key Asset Information to Include in the Inventory
    6. Determining and Collecting Debts Owed to the Decedent (Tax Refunds, Promissory Notes, Incomplete Purchases, etc.)
    7. Death Survivor Benefits
    8. Practical Tips for Structuring Inventory Data
    9. Filing the Inventory with the Court
    10. Who Gets a Copy of the Inventory?
    11. Supplemental Inventory: When is it Needed and What to do with It?
    12. Monthly Balancing of the Future Final Accounting
  3. LEGAL ETHICS IN PROBATE PRACTICE
    11:00 - 12:00, Denise L. Kaup, Jeffrey L. Stoehr, and Barbara Lohr Van Sant
    1. Who is Your Client? Preventing Conflicts of Interest at the Outset
    2. Attorney Fees in Excess of Statutory Limit
    3. Attorneys Acting as Fiduciaries
    4. Client Confidentiality and Data Security
  4. ASSET VALUATION IN PROBATE: MINIMIZING TAX AND ENSURING FAIR DISTRIBUTION
    1:00 - 1:45, Barbara Lohr Van Sant
    1. What Assets Should be Evaluated and How to Determine Their Value
    2. Using Valuations for Tax Purposes
    3. Factors that Increase/Decrease Asset Values
    4. Tackling Closely Held Business Valuations
    5. Types of Appraisals, Who Owns Them, and When/How to Use Them
    6. How to Critically Read the Appraisal to Spot Weaknesses or Holes
    7. When and How You Can Request an Appraiser Increase Valuation
    8. Unique Considerations in Real Estate Appraisals: Residential and Commercial
  5. PREPARING FOR THE FINAL ACCOUNTING
    1:45 - 2:30, Denise L. Kaup
    1. Formal vs. Informal Accounting
    2. Documents Needed
    3. Matching the Inventory with the Final Accounting
    4. Nebraska County Inheritance Tax Determination
  6. FINAL ACCOUNTING: WHAT TO INCLUDE AND HOW TO ORGANIZE IT (W/ SAMPLE REVIEW)
    2:45 - 3:45, Barbara Lohr Van Sant
    1. Recording the Assets at the Time of Death (a.k.a. Initial Inventory)
    2. Income Received and Expenses Paid: What to Record as Income and What Counts as Principal in the Estate?
    3. What to do with Profit/Loss on Investments or Sale of Assets
    4. Recording Estate's Income for Final Accounting vs. Taxable Income
    5. Identifying and Structuring Assets for Distribution
    6. Balancing the Accounting (Common Oversights and Remedies)
    7. Handling Discrepancies and Disputes
    8. Compensation of Personal Representative Under Will vs. Statutory vs. by Agreement - What's Fair?
      1. Obtaining Approval for Compensation
      2. How to Handle Objections to Compensation
      3. Extraordinary Services Compensation
  7. FINAL ACCOUNTING: FINAL DISTRIBUTIONS AND PETITION FOR DISCHARGE
    3:45 - 4:40, Denise L. Kaup
    1. Should Proposed Distributions be Used?
    2. Final Disbursement of Estate Property
    3. Release of Liability and Consent to Discharge: What to Include, Who Needs to Sign Them, and Why
    4. Petition for Discharge: What to Include and How to File
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NE Omaha12/8/2017 8:30:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>1 day349.002039871
KS Wichita12/14/2017 8:30:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>1 day359.002039876
KS Overland Park12/20/2017 8:30:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>1 day359.002039879
LA Shreveport12/21/2017 8:30:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>1 day349.002039870
MD Linthicum Heights1/23/2018 8:30:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>1 day359.002039875
NC Charlotte2/15/2018 8:30:00 AM<span class="course-type type-c" style="cursor:default;word-wrap:normal;display:inline-block;" onmouseover="showHoverInfo(this, 'ProductTypeDescription' ,'ILT')" onmouseout="clearHoverInfo()">C</span>1 day359.002039880
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