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 GATHERING
8:30 - 9:30, Lindsay Miller
- Appointment of Estate Administration
- Formal vs. Informal Proceedings
- Sample Letters of Authority
- First Meeting with Family or Designated Personal Representative and Determination of Heirs
- Written Fee Agreements
- Tips to Locate Information Quickly Using Online and Government Resources
- Dealing with Multiple States
- INITIAL STEPS TO THE ESTATE ADMINISTRATION PROCESS
9:30 - 10:20, Lindsay Miller
- Understanding the Laws of Intestacy
- Sample Estate Administration Checklists, Forms and Required Notices Needed
- Interpreting Provisions and Terms of Art Found in Wills
- Using Disclaimers Correctly
- MARSHALLING ASSETS
10:35 - 11:25, Aislynn Thomas-McDonald
- 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 CREDITOR CLAIMS AND DEBT
11:25 - 12:25, Aislynn Thomas-McDonald
- Sample Forms and Required Notices Needed
- Priority and Payment of Claims
- Late Claims and Contested Claims
- Steps to Ensure all Debt is Located and Handled Correctly
- What if the Assets Don't Cover the Bills?
- Bankruptcy and Foreclosure
- Selling of Assets and Properly Dealing with Creditors
- HANDLING ESTATE ADMINISTRATION TAX ISSUES
1:25 - 2:25, Lee J. Osiason
- Examples of Forms Needed
- Federal and State Estate Tax Considerations
- Income Tax Issues for the Estate and the Heirs
- 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
- CLOSING OF THE ESTATE
2:25 - 3:25, Dana M. Fragakis
- Tips for Assisting with Final Accounting
- Preparing the Distribution of the Estate to Beneficiaries
- Discharge of the Fiduciary
- ETHICS AND ESTATE ADMINISTRATION
3:40 - 4:40, Thomas M. VanNess
- Distinguishing Between Privileged and Non-Privileged Communications
- When the Client Asks for Legal Advice - Knowing How to Say "No"
- Protecting You Firm From Malpractice Actions - Tools You Can Use to Meet Deadlines
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