Tennessee Estate Administration From Start to Finish

Agenda / Content Covered

All times are shown in Eastern time

1. COMMENCEMENT OF PROCEEDINGS AND INFORMATION GATHERING
   8:30 - 9:15, Julie F. Travis Moss
   1. Appointment of Estate Administration
      1. Formal vs. Informal Proceedings
      2. Sample Letters of Authority
   2. First Meeting With Family or Designated Personal Representative and Determination of Heirs
   3. Written Fee Agreements
   4. Tips to Locate Information Quickly Using Online and Government Resources
   5. Dealing with Multiple States
2. INITIAL STEPS TO THE ESTATE ADMINISTRATION PROCESS
   9:15 - 10:00, Julie F. Travis Moss
   1. Understanding the Laws of Intestacy
   2. Sample Estate Administration Checklists, Forms and Required Notices Needed
   3. Interpreting Provisions and Terms of Art Found in Wills
   4. Using Disclaimers Correctly
3. MARSHALLING ASSETS
   10:00 - 10:45, Kyle B. Heckman
   1. Procedures to Locating and Marshalling Probate and Non-Probate Assets
      1. Safe Deposit Boxes and Bank Accounts
      2. Real Estate
      3. Brokerage Accounts, 401Ks, IRAs, Pensions and Life Insurance Policies
   2. Sample Forms and Documents Needed
   3. Appraisers and Valuing the Property of Probate Estates
4. HANDLING CREDITOR CLAIMS AND DEBT
   11:00 - 11:45, Kyle B. Heckman
   1. Sample Forms and Required Notices Needed
   2. Priority and Payment of Claims
   3. Late Claims and Contested Claims
   4. Steps to Ensure all Debt is Located and Handled Correctly
      1. What if the Assets Don't Cover the Bills?
      2. Bankruptcy and Foreclosure
   5. Selling of Assets and Properly Dealing with Creditors
5. COMPLEX ISSUES IN ESTATE ADMINISTRATION
   12:15 - 1:15, A. Michelle Poss
   1. Jointly Held Assets
   2. Spousal Claims
      1. Allowances and Elections Against the Will
   3. Handling Unmarried Couples and Stepchildren
   4. Will Contests, Trust and Estate Disputes
   5. Business Ownership
   6. Agency Problems Involving Guardianships, Conservatorships, Powers of Attorney or Other Agency Relationships
6. HANDLING ESTATE ADMINISTRATION TAX ISSUES
   1:15 - 2:00, Michael R. Crowder
   1. Examples of Forms Needed
   2. Federal and State Estate Tax Considerations
   3. Income Tax Issues for the Estate and the Heirs
   4. Resolving Disputes With Taxing Authorities
   5. Deductions and Exemptions
   6. How the Generation-Skipping Transfer Tax Affects Your Clients
   7. Tax Deadlines and Handling Extensions
   8. Sales of Real Property
7. DISTRIBUTION AND CLOSING OF THE ESTATE
   2:15 - 3:10, R. Seth Oakes
   1. Sample Forms, Agreements and Documents Needed
   2. Proper Transferring and Distribution of Probate and Non-Probate Assets and Timing of Distributions
      1. Real Estate
      2. 401Ks, IRAs, Pensions and Life Insurance Policies
      3. Distribution of Miscellaneous Assets (Automobiles, Jewelry, Etc.)
   3. Distributions in Kind
   4. Distribution to Minors, Surviving Spouse and Trusts
   5. Disposition of Unclaimed Assets
   6. Proper Settlement of the Estate
      1. Formal and Informal Estate Accountings
      2. Choosing the Appropriate Closing Procedure
      3. Compensation and Discharge of the Personal Representative
8. ETHICS AND ESTATE ADMINISTRATION
   3:10 - 4:10, Mitchell I. Lansky
   1. Breach of Fiduciary Responsibility
   2. Avoiding Conflicts of Interest
   3. Attorney-Client Privilege
   4. Fee Agreements

MICHAEL R. CROWDER is an attorney with Kennerly, Montgomery & Finley, P.C., in Knoxville. He practices in the areas of estate planning, probate, and elder law; and has extensive experience drafting wills and trusts in a way that ensures his clients' assets are best utilized during their life and then smoothly passed along at death, taxes are minimized, protection from creditors is maximized, charitable intentions are fulfilled, and loved ones are provided for. Mr. Crowder earned his B.A. degree from Princeton University; his J.D. degree from the University of Tennessee; has an LL.M. degree in estate planning and elder law; and is a member of the Knoxville Estate Planning Council.

KYLE B. HECKMAN is a founding member of the firm of Mount Juliet Legal, PLLC. He focuses his practice in the areas of estate and trust administration, small business law, real estate law, commercial landlord-tenant law, and creditors' rights. Mr. Heckman received his B.S. degree from Middle Tennessee State University and his J.D. degree from Nashville School of Law.

MITCHELL I. LANSKY is a member of the Lansky Law Firm in Memphis. Mr. Lansky has practiced for more than 30 years, mainly in the areas of estate planning, elder law, and corporate/transactional law. He earned his B.S.B.A. degree from the University of Florida; his J.D. degree from Cumberland School of Law-Samford University; and his LL.M. degree in taxation from Washington University. Mr. Lansky is also a member of Lawyers With Purpose, a collection of attorneys throughout the U.S. focusing in elder law. He speaks often to diverse groups concerning estate planning and especially elder law.

R. SETH OAKES is an attorney with Tarpy, Cox, Fleishman & Leveille, P.L.L.C., where his practice is concentrated in business transactions and litigation, civil litigation, criminal defense, estate administration, estate and trust planning, personal injury, and real estate. He is admitted to practice in Tennessee and is a member of the Knoxville Bar Association, Tennessee Bar Association, and American Bar Association. Mr. Oakes received his B.S. degree from Lincoln Memorial University and his J.D. degree from Duncan School of Law.

A. MICHELLE POSS is a sole practitioner in Nashville. She represents clients in the practice areas of elder law; disability and probate, including estate administrations, conservatorships and guardianships; trust administrations; Social Security; and V.A. claims. Ms. Poss is a V.A. accredited attorney and is a Rule 31 general civil mediator. She is licensed to practice in all Tennessee courts, and is admitted to the Tennessee Supreme Court and the U.S. federal courts. Ms. Poss is an active member of the Nashville Bar Association, the Tennessee Bar Association, and the Conservatorship Association of Tennessee. She currently serves as president of the Conservatorship Association of Tennessee, co-chair of the NBA Probate Committee, and previous board member of CASA and the St. Thomas Foundation Murfree Circle. Ms. Poss earned her B.S. degree from the Middle Tennessee State University and her J.D. degree from Nashville School of Law.

JULIE F. TRAVIS MOSS is of counsel with The Blair Law Firm in Brentwood. Her practice areas include estate and trust administration, guardianships and conservatorships, estate planning, real estate, and related litigation. She also advises closely held business owners regarding general corporate matters. Her more than 20 years of diverse legal experience includes 10 years as a general practitioner in Michigan and teaching legal writing at Vanderbilt Law School. Ms. Moss earned her B.A. degree from the University of Michigan and her J.D. degree from Loyola University Chicago. She is licensed to practice in the states of Tennessee, Michigan, and Illinois (inactive); and is also admitted to practice before the Sixth Circuit Court of Appeals; and the United States District Court for the Middle District of Tennessee, the Western District of Michigan, and the Northern District of Illinois. She speaks frequently on estate planning, administration, and litigation topics; and she is a member of the Nashville Bar Association’s Probate and Estate Planning Committee.