We are committed to safeguarding the health of our attendees and speakers. This seminar has been moved to an online format due to public health concerns.
A Step-By-Step Guide to Estate Administration
Designed for attorneys who are new to estate administration or need a basic refresher, this course will provide you with a comprehensive overview of estate administration, including proper asset valuation and distribution, taxation, and account closing procedures. You'll also learn how to correctly deal with thorny estate administration debt issues. Equip yourself with real-life, practical knowledge to ensure you are fully prepared to handle the entire estate administration process from start to finish - order today!
- Learn how to meet every deadline, follow procedures and complete essential forms.
- Identify key estate administration pitfalls you need to avoid.
- Acquire strategies to ensure you can help your clients through every step of the probate process.
- Manage your client's entire estate administration procedures properly and effectively.
- Understand how to properly transfer and distribute assets.
- Explore proper procedures and processes when dealing with insurance claims and debt during estate administration.
- Gain a better understanding of the probate court's procedures so that you can avoid common pitfalls and mistakes.
- Get the latest information on allowances and elections against the will.
All times are shown in Eastern time.
COMMENCEMENT OF PROCEEDINGS AND INFORMATION GATHERING10:00 — 10:45, Jeffrey Lambert
- Overview of Probate Processes
- Full Probate Administration
- Summary Administration
- First Meeting With Family or Designated Personal Representative
- Fee Agreements
- Using Online and Government Resources to Locate Information
- Ancillary Administration
INITIAL STEPS TO THE ESTATE ADMINISTRATION PROCESS10:45 — 11:30, Jeffrey Lambert
- Intestate Estates
- Determination of Heirs
- Interpreting Provisions and Terms of Art Found in Wills
- Using Disclaimers Correctly
MARSHALLING ASSETS11:45 — 12:30, Jeffrey Lambert
- Procedures to Locating and Marshalling Probate and Non-Probate Assets
- Safe Deposit Boxes and Bank Accounts
- Real Estate
- Brokerage Accounts, 401Ks, IRAs, Pensions and Life Insurance Policies
- Sample Forms and Documents Needed
- Appraisers and Valuing the Property of Probate Estates
HANDLING CLAIMS AND DEBT12:30 — 1:15, Louis Silverman
- Understanding the Claims Period
- Presentation of Claims Against the Estate
- Assets Subject to Claims
- Priority and Payment of Claims
- Contested Claims
- Insolvency and Foreclosure
- Selling Assets and Dealing with Creditors
COMPLEX ISSUES IN ESTATE ADMINISTRATION1:45 — 2:30, Louis Silverman
- Jointly Held Assets
- Spousal Claims
- Allowances and Elections Against the Will
- Handling Unmarried Couples and Stepchildren
- Will Contests, Trust and Estate Disputes
- Business Ownership
- Agency Problems Involving Guardianships, Conservatorships, Powers of Attorney, or Other Agency Relationships
HANDLING ESTATE ADMINISTRATION TAX ISSUES2:30 — 3:00, Amanda Weisseg
- Examples of Forms Needed
- Overview of Estate Tax Valuation
- Properly Filing and Payment of Federal Estate Tax Returns
- Federal Income Tax Issues for the Descendent and the Estate
- Resolving Disputes With Taxing Authorities
- Deductions and Exemptions
- How the Generation-Skipping Transfer Tax Affects Your Clients
- Tax Deadlines and Handling Extensions
- Sales of Real Property
DISTRIBUTION AND CLOSING OF THE ESTATE3:15 — 4:00, Louis Silverman
- Sample Forms, Agreements and Documents Needed
- Proper Transferring and Distribution of Probate and Non-Probate Assets and Timing of Distributions
- Real Estate
- 401Ks, IRAs, Pensions and Life Insurance Policies
- Distribution of Miscellaneous Assets (Automobiles, Jewelry, Etc.)
- Distributions in Kind
- Distribution to Minors, Surviving Spouse and Trusts
- Disposition of Unclaimed Assets
- Proper Settlement of the Estate
- Formal and Informal Estate Accountings
- Choosing the Appropriate Closing Procedure
- Compensation and Discharge of the Personal Representative
ETHICS AND ESTATE ADMINISTRATION4:00 — 5:00, Amanda Weisseg
- Breach of Fiduciary Responsibility
- Avoiding Conflicts of Interest
- Attorney-Client Privilege
- Fee Agreements
This basic level seminar is designed for professionals who want to be more effective in the estate administration process, such as:
- CPAs and Accountants
- Financial Planners and Wealth Managers
- Tax Professionals
- Trust Officers