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Estate Administration Procedures: Why Each Step Is Important
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Provider:
NBI, Inc.
Topic(s):
Law/Legal
Who Should Attend?
Attorneys starting out in probate practice, or for those returning to the field; accountants, trust officers, estate planners, financial planners and other professionals
Full Seminar Description
Properly Administer Your Client's Estate. Every estate administration is different and has its own unique requirements. Having a solid understanding of proper procedures will help you overcome the individual challenges you may face. Knowing why you're taking these steps and understanding when to take them will give you more insight into the process and help manage your duties more easily. After this thorough and practical seminar you'll be more confident when distributing your client's property and belongings. Explore the foundations of estate administration so you can knowledgeably handle the various types of estates. Master the tasks necessary to initiate a smooth administration process. Efficiently and thoroughly collect the assets, prepare the inventory and handle claims against the estate. Successfully close the estate, using proven methods that ensure nothing is overlooked. Prevent tax problems down the line with a review of relevant procedures. Protect your practice by overcoming ethical challenges specific to estate administration. Gain decisive litigation strategies that will give you the edge if an estate is challenged. Enhance your skills at this practical seminar. Fee per person: $365Benefits of Attending
Properly Administer Your Client's Estate
Every estate administration is different and has its own unique requirements. Having a solid understanding of proper procedures will help you overcome the individual challenges you may face. Knowing why you're taking these steps and understanding when to take them will give you more insight into the process and help manage your duties more easily.
After this thorough and practical seminar you'll be more confident when distributing your client's property and belongings. Explore the foundations of estate administration so you can knowledgeably handle the various types of estates. Master the tasks necessary to initiate a smooth administration process. Efficiently and thoroughly collect the assets, prepare the inventory and handle claims against the estate. Successfully close the estate, using proven methods that ensure nothing is overlooked. Prevent tax problems down the line with a review of relevant procedures. Protect your practice by overcoming ethical challenges specific to estate administration. Gain decisive litigation strategies that will give you the edge if an estate is challenged. Enhance your skills at this practical seminar.
- Weigh the pros and cons of informal administration and learn how it can be advantageously used.
- Make the entire process as efficient as possible when working with the personal representative.
- Determine the survivors' immediate needs - and ensure they're met.
- Know your options: take a look at alternative methods to closing the estate.
- Competently file federal and state estate tax returns and know exactly what is required.
Agenda
FOUNDATIONS OF ESTATE ADMINISTRATION DEFINED
- Identifying Probate and Non-Probate Assets
- Understanding the Various Forms of Administration
- Considerations for the Small Estate
- Knowing the Advantages and Disadvantages of Informal Administration and Complying With the Procedures
PREPARING TO BEGIN THE ADMINISTRATION PROCESS
- Understanding the Laws of Intestacy and How They Affect the Estate
- Knowing What to Get Out of the Client Interview
- Determining the Survivors' Immediate Needs
- Examining the Safe Deposit Box: Identifying Important Documents
- Locating the Will and Knowing What to Do Next
- Considerations in Appointing and Counseling the Personal Representative
- Practical Tips for Obtaining Information Concerning Assets
- Renunciations and Election of Statutory Share
- Using Disclaimers Correctly
- Notice Requirements
CONSIDERATIONS FOR COLLECTING THE ASSETS, PREPARING THE INVENTORY AND HANDLING CLAIMS AGAINST THE ESTATE
- Practical Procedures for Opening Estate Accounts
- Obtaining Tax Identification Number and Title to Assets
- Canceling Utilities and Credit Cards
- Best Strategies for Preparing the Inventory
- Medicare, Insurance Claims and Public Assistance: Understanding the Paperwork Involved
- Priority of Concern: Following the Chain of Command in Allowances, Claims and Taxes
BEING THOROUGH TO CLOSE THE ESTATE WITHOUT A HITCH
- Alternative Methods: Knowing Your Options
- Timing of Distributions: How Long Do Beneficiaries Have to Wait Until They Get Their Money?
- Steps Involved in Transferring Jointly-Held Assets
- Transferring Other Probate and Non-Probate Assets
- Considerations for Handling Distributions to Minors and Trusts
- Ensuring Thorough Accounting and Settlement of the Estate
- Compensation and Discharge of the Personal Representative
UNDERSTANDING TAX PROCEDURES TO AVOID PROBLEMS LATER
- Overview of Tax Compliance and Post-Mortem Planning: What You Need to Know
- What You Need to Know to Prepare the Decedent's Final Income Tax Return
- Filing Requirements for Federal and State Estate Tax Returns
- How the Generation-Skipping Transfer Tax Affects Your Clients
- Handling Distribution to Minors and Trusts
- Accurate and Inclusive Valuation of Assets
- Determining Alternatives for the Surviving Spouse: Disclaimers, Rights and Options
ETHICAL CHALLENGES IN ESTATE ADMINISTRATION
- Determining Who the Client Is
- Representing An Estate: Avoiding Conflicts of Interest
- Informing the Client of the Status of the Estate
- Filing Claims: Why it is Imperative to Meet the Deadlines
COMMON ISSUES TO BE PREPARED FOR IN LITIGATION AND PROBATE
- Title and Discovery of Assets
- Contested Claims and Contingent Liabilities
- Marital Agreement Concerns
- Contested Wills and Alternatives: Is it Valid to Disagree?
This program is designed to qualify for 8.0 hours (based on 50 minute credit hour) of continuing professional education credit for accountants.
Who Should Attend
This basic level seminar is ideal for attorneys starting out in probate practice, or for those returning to the field. Accountants, trust officers, estate planners, financial planners and other professionals involved in the estate administration process will also greatly benefit from this program. This is a basic-level program. No advanced preparation or prerequisites are required. Field of Study -- Behavioral Ethics/Taxation.Times
Registration: 8:00-8:30 a.m.
Start: 8:30 a.m.
Stop: 4:40 p.m.
Sponsor Background:
About NBINational Business Institute
Providing Legal Knowledge to Any Business, Anytime, Anywhere
National Business Institute (NBI) has been providing legal education to attorneys, accountants, human resource and insurance professionals, real estate agents, teachers and all other corporate and legal professionals for over 20 years. We have trained on every legal topic relevant to the workplace and have access to the most comprehensive library of training tools in the industry.
Since 1983 we have been one of the largest providers of legal and professional education in the nation. We currently hold seminars in major metropolitan areas in all 50 states and Puerto Rico, serving over one million professionals.
An NBI seminar will provide you with the practical knowledge you need to perform your job with greater skill and effectiveness. In addition, we work in close cooperation with more than 500 continuing legal and other education credit-granting organizations. You can be confident that we carefully design our seminars to ensure that you’ll be able to satisfy all of your professional training requirements.
Our commitment to your success is what drives our daily activities. When you train with National Business Institute, you not only make an investment in your career, but you also make an investment in yourself. We look forward to helping you gain the knowledge you desire while showing you all the ways NBI provides more choices for your success!
We provide training solutions for your success!
Why should you trust NBI for your continuing education needs?
Simply put, NBI is the best! Having trained over one million professionals, we know what you need, and we have the ability to help you obtain it. Our satisfied customers agree that we are innovative, established and practical. With each NBI seminar you are guaranteed to receive:
Timely Information to Help You Keep Your Edge
NBI is dedicated to providing you with a wide choice of relevant seminar topics led by knowledgeable, experienced instructors and carefully designed to meet your continuing education needs. You can rest assured that we are up-to-date on the latest legal issues and changes, and that we won’t rest until we deliver the most timely information to you!
Free Reference Manual
Your learning doesn’t end with the conclusion of the seminar presentation. With our comprehensive course manual, written specifically to accompany each program, you’ll have all the information you need right at your fingertips. This manual, included with your tuition, allows you to take the seminar back to the office with you!
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RISK FREE CANCELLATION
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