Inventory and Appraisement and Sale of Property and Distributions
Handling Probate from Initial Notices through the Estate Closing
This "a through z" guide to probate is designed to take you from the first days of the estate timeline through all the steps of marshaling and valuing estate assets, locating and paying the creditors, paying the beneficiaries, and laying the estate to rest. You will receive the latest updates on the probate court procedure and tax laws, practical guidance from experienced probate attorneys on using spousal elective share and resolving estate disputes, and sample forms and checklists to speed up the administration process.
- Learn the procedure, rules and practical steps to effectively administer a probate.
- Determine what form of administration is appropriate for a specific probate case.
- Clarify the order of inheritance for an estate when there is no will.
- Locate assets and obtain ownership documents more easily with a list of local and online resources.
- Get a complete view of the sequence of events that must happen before the estate can be closed.
- Identify common actions that trigger malpractice liability and get tips for staying in the clear.
- Get practical advice for honoring or contesting all claims against the estate.
- Find new ways to resolve liquidity issues that delay estate closing and final distributions and payments.
- Learn what common closing mistakes can allow the estate to be re-opened, and how to avoid them.
INVENTORY AND APPRAISEMENT
12:45 - 1:30, Cindy J. Ackerman
- Locating Insurance Policies, Deeds, and Other Ownership Documents
- Obtaining a Tax ID and Marshaling Property
- Probate Property vs. Non-Probate Assets
- Preparing the Inventory and Appraisal Forms
- Managing Decedent's Assets During Probate
- Handling Common Valuation Issues
- When to Hire a Valuation Specialist or Appraiser
SALE OF PROPERTY AND DISTRIBUTIONS
3:30 - 4:10, Cindy J. Ackerman
- Disposition of Real Estate - Title Issues in Probate
- Retirement Plans and IRA Distributions
- Life Insurance and Other Beneficiary Designations and Accounts
- Preliminary and Final Distributions
- Calculating Augmented Estate and Spousal Elective Share
- Dealing with the Surviving Family Members and Other Beneficiaries
- Solving the Problem of Liquidity
- Distribution of Trusts
Who Should Attend
This basic level seminar is designed for professionals who want to be more effective in handling the probate process, including:
- CPAs and Accountants
- Financial Planners and Wealth Managers
- Tax Planning Specialists
- Trust Officers
- Tax Preparers