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The Ultimate Guide to Probate  

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training seminars by NBI Inc. NBI Inc.

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This course is designed for attorneys. It will also benefit accountants, enrolled agents, paralegals, trust officers, financial planners, and tax managers/consultants.

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Seminar Summary:

Our esteemed faculty will provide you with not only an understanding of the step-by-step probate process, but also with a hard-won knowledge for managing issues regarding executors, creditor claims, inventory/accounting, beneficiary distributions and closing the estate (see full course description)

 

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Training Course Syllabus:


The Ultimate Guide to Probate

Your Comprehensive Probate Guide - with an Eye on the Assets

Probate practice is becoming an increasingly marketable skill due to the aging population and clients' reliance on competent attorneys and other professionals who can smoothly guide them through the procedures. Our esteemed faculty will provide you with not only an understanding of the step-by-step probate process, but also with a hard-won knowledge for managing issues regarding executors, creditor claims, inventory/accounting, beneficiary distributions and closing the estate. Enhance your practice - register today!

  • Navigate the probate process with ease in our practical, step-by-step walkthrough.
  • Accurately identify, value, prepare and distribute probate assets.
  • Pick up best practices for handling creditor notices and claims.
  • Find out how to deal with non-cooperative executors, beneficiary disputes, assets in the possession of others and other sticky issues.
  • Gain tips for navigating through tax forms so you can make strategic, money-saving decisions quickly.
  • Learn how to successfully balance the final account and close the estate.


All times are shown in Eastern time

  1. The Probate Process Explained
    10:00 - 11:00, Katie Bindrup
    1. Initial Considerations and Steps
    2. Roles and Responsibilities
    3. Situs and Ancillary Probate
    4. Forms of Administering an Estate
    5. Laws of Intestacy and Heirship
    6. Exceptions to Succession: Blended Families and More
    7. Executor Appointment and Taxpayer ID Number
    8. Filing Petition to Admit Will to Probate
    9. Notice to Interested Parties
    10. Waivers and Consents Rejections
    11. How to Manage the Non-Professional Executor
    12. Lost Wills, Partial Revocations, and Trends in Will and Trust Contests
  2. Distinguishing Between Probate and Non-Probate Assets
    11:15 - 11:45, Katie Bindrup
  3. Inventory and Satisfying Creditor Claims
    11:45 - 12:45, Ivory Umanah
    1. Strategies for Discovering Assets in the Modern Age, Digital Assets
    2. Dealing with Digital Accounts and Assets
    3. Exempt Property Set-Asides and Family Allowance
    4. Identifying and Valuing Assets
    5. Reporting of Annuities on Inventories
    6. Inventory Issues: Marital Property, Loaned Items and More
    7. Identifying Possible Creditors and Giving Actual Notice
    8. Creditor Priorities and Claims You Should Reject
    9. Insufficient Assets and Abatement
  4. Maintaining the Estate and Preparing Assets for Distribution
    1:15 - 2:00, Ivory Umanah
    1. Recordkeeping for the Duration of Probate
    2. Handling Non-Divisible/Joint Assets
    3. Rules Regarding Probate Sales of Real Property
    4. Tax Implications for Sales of Property
  5. Tax Deadlines and Preparing, Coordinating and Filing Returns
    2:00 - 3:00, Benjamin R. Podraza
    1. Selection of the Tax Year
    2. When to File Form 1041/Estate Income Tax Return
    3. Portability: Should You File Form 706?
    4. Allocating Items that are Deductible on the 1041/Final 1040/706
    5. Passive Activity Losses and Basis Adjustments
    6. Reporting of Transfers on Schedule G and Life Interests
  6. Beneficiary Distributions, Final Account and Closing of the Estate
    3:15 - 4:00, Katie Bindrup
    1. Partial Distributions, Disclaimers and Divestment Traps
    2. Mitigating Distribution-Related Tax Consequences
    3. Recovering Assets in the Hands of Others
    4. Settling Disputes with Beneficiaries
    5. Covering Your Assets: Getting Receipts Signed
    6. Classification of Expenses on the Final Account
    7. Balancing the Final Account: Common Mistakes
    8. Extending, Closing and Re-Opening an Estate
  7. Ethical Practice Considerations and Concerns in Probate
    4:00 - 5:00, Katie Bindrup
    1. Who is Your Client?
    2. Rules of Professional Conduct
    3. Establishing Reasonable Attorney and Paralegal Fees
    4. Attorneys' Obligations to Executor and Opposing Parties
    5. Ethical Risks of Attorneys Serving as Executors
    6. Attorneys or Attorneys' Relatives Named as Beneficiaries
    7. Mock Ethical Scenarios and Recommended Solutions

Seminar Summary:

Our esteemed faculty will provide you with not only an understanding of the step-by-step probate process, but also with a hard-won knowledge for managing issues regarding executors, creditor claims, inventory/accounting, beneficiary distributions and closing the estate (see full course description)

 

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