New Jersey Estate Administration From Start to Finish

Agenda / Content Covered

1. COMMENCEMENT OF PROCEEDINGS AND INFORMATION GATHERING
   8:30 — 9:15, Raymond Falcon
   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, Raymond Falcon
   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
   10:15 — 11:00, Raymond Falcon
   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 ESTATE ADMINISTRATION TAX ISSUES
   11:00 — 11:45, Michael Feinberg
   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
5. DISTRIBUTION AND CLOSING OF THE ESTATE
   12:15 — 1:15, Kristine Carranceja-Gurski
   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
6. HANDLING CREDITOR CLAIMS AND DEBT
   1:15 — 2:15, Daniel Jurkovic
   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
7. COMPLEX ISSUES IN ESTATE ADMINISTRATION
   2:30 — 3:10, Daniel Jurkovic
   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
8. ETHICS AND ESTATE ADMINISTRATION
   3:10 — 4:10, Daniel Jurkovic
   1. Breach of Fiduciary Responsibility
   2. Avoiding Conflicts of Interest
   3. Attorney-Client Privilege
   4. Fee Agreements

Accreditation Details:

is an attorney with The Matus Law Group and is admitted to the Bar of the State of New Jersey and the Bar of the State of New York. She graduated from St. John's University in Queens, New York with a B.A. degree in Government and Politics and a minor in Philosophy. After college, Ms. Carranceja-Gurski worked for various brokerage firms, providing her with a strong background in financial services and retirement planning. She then decided to pursue her dream of becoming a lawyer and attended Loyola University of New Orleans College of Law. Ms. Carranceja-Gurski is a member of the New Jersey State Bar Association, the Ocean County Bar Association, and the Monmouth Bar Association. She was instrumental in the formation of the Ocean County Bar Association's Pro Bono Committee and served as its first Chair. A long-time believer in community involvement, Ms. Carranceja-Gurski has served in various leadership roles as early as her high school years and throughout college. While at law school, she was actively involved in the Volunteer Income Tax Assistance program. She coordinated a pro bonoprogram for lawyers for a non-profit legal organization, where she had the opportunity to lecture to the public on expungement law and to present at continuing legal education seminars regarding the value and importance of pro bono representation.

Raymond J Falcon is a principal of Falcon Law Group LLC in Woodcliff Lake, New Jersey. In his estate planning practice, Mr. Falcon works with clients and their financial advisors, accountants, and other professionals to identify their estate planning goals and develop tax-advantageous structures by selecting from a wide variety of estate planning vehicles. He also concentrates in planning for families that have members with special needs and persons with disabilities. Mr. Falcon assists plaintiff personal injury attorneys, their clients, and structured settlement advisors in utilizing self-settled special needs trusts to hold settlement proceeds in order to avoid loss of needs-based government benefit by the permanently-disabled injured client. His practice also spans a broad range of corporate, commercial, and general business matters. He is admitted to practice in the states of New York, Florida, and New Jersey; and before various federal courts. Mr. Falcon is a member of the American, Bergen County, and New York State bar associations; The Florida Bar; the National Academy of Elder Law Attorneys; the Academy of Special Needs Planners; the American Association for Justice; the National Alliance of Medicare Set-Aside Professionals; and the Council on Parent Attorneys and Advocates. Mr. Falcon earned his B.A. degree from Columbia College of Columbia University and his J.D. degree from Yale University School of Law.

Michael K Feinberg is a partner of the Woodbridge law firm of Greenbaum, Rowe, Smith & Davis LLP, where his practice is concentrated in the areas of tax and estate planning; elder law; estate administration, tax and business planning for individuals, corporations, partnerships and limited liability companies; and tax controversies. Mr. Feinberg is a frequent lecturer and has written numerous articles on tax, estate planning and elder law topics. He is admitted to practice law in both New Jersey and New York; and is a member of the American College of Trust and Estate Counsel and the National Academy of Elder Law Attorneys. Mr. Feinberg has been voted into The Best Lawyers in America and also has been named a Super Lawyer in the New Jersey estate planning and probate practice area. He is now co-chair of the Elder Law Section of the Middlesex County Bar. Mr. Feinberg earned his B.A. degree from Bucknell University; his J.D. degree, with honors, from George Washington University Law School; and his LL.M. degree from New York University School of Law.

Daniel J Jurkovic is a solo practitioner located in Rutherford, New Jersey, whose practice is concentrated in the areas of elder law, guardianship, disability planning, and estate planning. He has been granted the title of certified elder law attorney by the National Elder Law Foundation. This certification has been approved by the New Jersey Supreme Court and accredited by the American Bar Association. Recently, Mr. Jurkovic represented the Guardianship Association of New Jersey, Inc. (GANJI) and the National Academy of Elder Law Attorneys-N.J. (NAELA-NJ) as amicus parties before the New Jersey Supreme Court in the matter of Thomas Saccone v. Board of Trustees, Police and Fireman's Retirement System, and previously served as lead attorney on the amicus curiae brief submitted to the New Jersey Supreme Court in the matter of In Re Keri. Mr. Jurkovic earned his B.S.B.A. degree from Thomas Edison State College, his M.S. degree in labor relations from Cornell University and Baruch College, and his J.D. degree and a certificate in health law policy, from Pace University School of Law.