Everything You Need to Know about Effectively Administering an Estate
Are you fully confident in your knowledge of the latest court and tax rules and the most effective transfer tools to ensure each client's estate is laid to rest according to the decedent's wishes, with minimal tax burden? This comprehensive 2-day instruction will give you all the skills you need to administer estates that include trusts and/or business interests without a hitch. Register today!
Don't miss any crucial notice and filing requirements when opening the estate - learn what must be done right away.
Get helpful forms and checklists that will help you in administration.
Understand how income and estate tax deductions interact and find the most advantageous way to structure the tax returns
Learn how to use disclaimers more effectively.
Clarify what must be done when the trust becomes irrevocable.
Protect your professional reputation with a practical legal ethics guide focused on trusts and estates practice.
Prevent mistakes in final petition and ensure each estate is closed quickly and without disputes.
Forms of Administration and When They are Used 9:00 - 9:45, Peggy C. Clarie Senentz
First Steps and Notices, Executor Duties, Opening the Estate 9:45 - 10:30, Peggy C. Clarie Senentz
Executor Duties and Powers Prior to and After Qualification
Filing the Petition; Notice to Beneficiaries and Heirs
Initial Notices to Creditors and State Agencies
The Estate Timeline
Other Estate Opening Tasks and Procedures
Marshalling the Assets 10:45 - 11:30, Melissa F. Williams
Key Assets to Account for
Survivorship vs. Beneficiary Designation
Helpful Checklists and Sample Forms
Filing the Inventory and Appraisal with the Court
Handling Antiques, Heirlooms and Unusual Items
Key Intestacy Laws You Must Know 11:30 - 12:15, Spiro J. Verras
Handling Debts and Claims Against the Estate 1:15 - 2:15, Rachel L. Drude
Secured vs. Unsecured Claims
Interest on Claims
Debts Left Over from Improperly Executed Joint Tenancies
Medicaid Estate Recovery and Other Liens
Spouse Elective Share and Disclaimers 2:30 - 3:30, Spiro J. Verras
Making the Election
Disclaiming an Interest: Who Can Disclaim, Statutory Requirements, Procedure, Consequences
Trusts that Affect Estate Administration 3:30 - 4:30, Daniel Medina
When Trusts are Included in the Estate
What Must be Done when the Trust Becomes Irrevocable
Post-Mortem Trust Funding (Credit Shelter, Marital and Beneficiary Trusts)
Designated Beneficiary Trusts
Income Tax Returns 9:00 - 10:00, Keith Durkin
Final Individual Income Tax Return - Federal and State
Fiduciary Income Tax Return - Federal and State
Tax Consequences of Fiduciary Decisions and Actions
The Interaction of Tax Deductions between the Estate Tax and fiduciary Income Tax Returns
Portability and Estate, Gift, GST Taxes 10:00 - 11:00, Keith Durkin
Determining DSUE and Claiming Portability
State and Federal Estate, Gift and GST Taxes - Planning and Reporting
Streamlined, Partial-Streamlined and Complete Estate Tax Returns
Business Interests in Estate Administration 11:15 - 12:15, Brant A. Bailey
Business Continuation and Non-Family Business Interests
Succession Issues - Who Controls the Company (Corporations vs. LLCs)
Tax Planning and Reporting
Legal Ethics in Estate Administration 1:15 - 2:15, Melissa F. Williams
Who is Your Client? Avoiding Conflicts of Interest
Are you a Fiduciary? New Fiduciary Liability Rules and FINRA Enforcement Efforts
Client Competence Issues
Closing the Estate and Final Accounting 2:30 - 3:30, Teresa N. Phillips
Final Accounting Step-by-Step
Filing the Final Petition; Contents
Final Expenses, Debts, Taxes, Fees and Distributions
Discharge of Fiduciary
Estate and Trust Contests, Disputes, Challenges 3:30 - 4:30, Robert W. Lang
Executor and Trustee Disputes
Objections to Final Accounts
Deterrence - Trustee Selection, Trust Protectors, No-Contest Clauses, etc.
Agendas and Speakers may differ slightly depending on the location. Please
e-mail or call
a representative to obtain an agenda for a particular location.