Probate is an intricate area of law requiring precision and great attention to detail. Do you have the skills to properly wrap up an estate and ensure the last bequests are interpreted correctly? This pragmatic briefing will walk you through the rules and provide practical advice for situations when the statutes or codes don't provide guidance. Review the timeline of the probate process and identify deadlines and key issues you must be aware of. Order today!

1. Local Probate Court Rules and Procedure Overview
2. The Initial Filing
3. Who is the Personal Representative?
4. Proper and Prudent Treatment of Assets
5. Tax Planning and Consequences of Probate
6. Ethical Considerations
7. Closing the Estate and Other Issues

Continuing Education Credits:   

* denotes specialty credits

• LOCAL PROBATE COURT RULES AND PROCEDURE
  Angelia Morie Nystrom, 9:00 - 9:30
• THE INITIAL FILING
  Angelia Morie Nystrom, 9:30 - 10:15
• When is Probate Necessary? Formal vs. Informal?
• What Documents to Include?
• Who Must and Should be Notified?
• The Master Timeline – Don't Miss any Crucial Due Dates!
• Intra-Office Communication – Setting up the File so That Your Staff can Properly Act on It
• Dealing With Intestacy
• WHO IS THE PERSONAL REPRESENTATIVE?
  Angelia Morie Nystrom, 10:30 - 11:15
• Helping Clients Pick One
• Educating the PR on his/her Duties
• How Much is it in Your Interests and Within Ethical Bounds to Help the PR?
• Representing PRs in Probate Disputes/Litigation
• PROPER AND PRUDENT TREATMENT OF ASSETS
  R. Lance Pruitt, 11:15 - 12:00
• Assess and Document Before or After the Initial Filing?
• Tips for Effective Marshaling of Assets
• Step-up Basis of Various Assets
• Exempted Property
• Requesting Decedent's Policy Information From the Insurance Companies and Insuring Remaining Property
• Spousal Rights to Property
• Treatment of Real Property in Probate – Tenants, Mortgages, Foreclosures, Sales, etc.
• Business Transfers
• Typical Creditors and How to Deal With Them
• Procedures for Probating an Insolvent Estate
• TAX PLANNING AND CONSEQUENCES OF PROBATE
  R. Lance Pruitt, 1:00 - 2:15
• Crucial Due Dates Timeline
• Obtaining Tax Identification Numbers
• Matching Estate Inventory and Tax Return in Probate
• Filing the Final Tax Return
• Tax Issues Connected With Insolvency
• Simple Tips for Minimizing Tax Burden
• Tax Treatment of Trusts
• ETHICAL CONSIDERATIONS
  R. Lance Pruitt, 2:30 - 3:30
• Who is the Client? Avoiding Conflicts of Interest
• Tips on Dealing With the Grieving Family
• Keeping Your Clients in the Know – Why it Pays off and How to do it Efficiently
• Getting Paid: Billable/Non-Billable Hour and Retainer Agreements
• Preventing Unauthorized Practice of Law by Legal Staff
• CLOSING THE ESTATE AND OTHER ISSUES
  Angelia Morie Nystrom, 3:30 - 4:30
• The Impact of Medicaid and Other Government Programs on Probate
• Preparing the Final Estate Accounting
• Trust Administration and Termination in Probate
• Shopping for Probate Case Management Software
• Common Probate Mistakes to Avoid
• Property Disputes
• Current Legislative/Case Law Updates and Forecast

ANGELIA MORIE NYSTROM is the director of Planned Giving for The University of Tennessee system. Prior to joining the university, she was of counsel in the Knoxville and Nashville offices of Baker, Donelson, Bearman, Caldwell & Berkowitz, PC. Ms. Nystrom has extensive experience in the areas of estate planning, trusts, tax and probate law. Her experience includes charitable gift planning, estate planning, estate and trust administration, real property transactions, conservatorships and guardianships, general corporate matters, probate litigation, and use tax litigation. Ms. Nystrom is a frequent lecturer on estate planning, probate and elder care issues. She  is actively involved in the Knoxville and Tennessee bar associations. Ms. Nystrom is the chair of the Legislative Committee of the Knoxville Bar Association and tracks legislation of interest to the legal community, including legislation relating to probate and taxation. She is the past-chair of the Estate Planning and Probate Section of the Tennessee Bar Association and continues to serve on its Executive Committee. Additionally, Ms. Nystrom serves on the Board of the Knoxville Estate Planning Council and is a member of the Smoky Mountain Planned Giving Council. She earned her B.A. degree, cum laude, from Carson-Newman College; her J.D. degree from Mercer University; and is attending the University of Tennessee as a Visiting Scholar.

R. LANCE PRUITT is a member of the Venable Cantey Pruitt Wealth Management Team of Morgan Stanley Smith Barney. He provides consultation and solutions to clients in the areas of estate planning, asset protection and business succession planning. Prior to his employment with Morgan Stanley Smith Barney, Mr. Pruitt practiced law for several years, concentrating his practice in the areas of estate and tax planning, tax litigation, estate administration, and corporate law. He also is an adjunct professor at Tusculum College. Mr. Pruitt earned his B.S. degree from The University of Tennessee at Knoxville, his J.D. degree from Southern Illinois University School of Law, and his LL.M. degree from the University of Missouri-Kansas City.

Please refer to Continuing Education Credit FAQ for general information about seeking credit for your participation in one of our continuing education programs.

Additionally, our team of credit specialists are here to answer your specific credit-related questions weekdays 7am - 5pm Central:

Phone: 866-240-1890

Email: credit@nbi-sems.com