Live Seminar

Estate Administration Boot Camp

Seminar

Date:

2 Day Seminar
Monday, March 26, 2018 -
Tuesday, March 27, 2018

Time:

9:00 AM - 4:30 PM

Product ID#:

78269ER

Location:

Regency Lodge Omaha

909 S 107th Ave

Omaha, NE 68114

$575.00

$565 / Each Additional

$555 / New Professional

Registration Includes Course Book

Credit Information

Continuing Legal Education

  • NE CLE - 12.00

CPE for Accountants

  • CPE for Accountants/NASBA - 14.00

Other

  • IACET - 1.20

Program Description

Everything You Need to Know about Effectively Administering an Estate

Are you fully confident in your knowledge of the latest court and tax rules and the most effective transfer tools to ensure each client's estate is laid to rest according to the decedent's wishes, with minimal tax burden? This comprehensive 2-day instruction will give you all the skills you need to administer estates that include trusts and/or business interests without a hitch. Register today!

  • Don't miss any crucial notice and filing requirements when opening the estate - learn what must be done right away.
  • Get helpful forms and checklists that will help you in administration.
  • Understand how income and estate tax deductions interact and find the most advantageous way to structure the tax returns
  • Learn how to use disclaimers more effectively.
  • Clarify what must be done when the trust becomes irrevocable.
  • Protect your professional reputation with a practical legal ethics guide focused on trusts and estates practice.
  • Prevent mistakes in final petition and ensure each estate is closed quickly and without disputes.

Who Should Attend

This two-day, basic level seminar is designed for:

  • Attorneys
  • Accountants/CPAs
  • Tax Professionals
  • Financial Planners
  • Trust Officers/Administrators/Managers
  • Paralegals

Course Content

DAY 1

  • Forms of Administration and When They are Used
  • First Steps and Notices, Executor Duties, Opening the Estate
  • Marshalling the Assets
  • Handling Debts and Claims Against the Estate
  • Key Intestacy Laws You Must Know
  • Spouse Elective Share and Disclaimers
  • Trusts That Affect Estate Administration

DAY 2

  • Portability and Estate, Gift, GST and Income Tax Returns
  • Handling Distributions
  • Business Interests in Estate Administration
  • Legal Ethics in Estate Administration
  • Closing the Estate and Final Accounting
  • Estate and Trust Contests, Disputes, Challenges

Continuing Education Credit

Continuing Legal Education – CLE: 12.00 *

International Association for Continuing Education Training – IACET: 1.20

National Association of State Boards of Accountancy – CPE for Accountants/NASBA: 14.00 *


* denotes specialty credits

Agenda / Content Covered

DAY 1

  • Forms of Administration and When They are Used
    9:00 - 9:45, Catherine Dunn Whittinghill
  • First Steps and Notices, Executor Duties, Opening the Estate
    9:45 - 10:35, Catherine Dunn Whittinghill
    • Executor Duties and Powers Prior to and After Qualification
    • Filing the Petition; Notice to Beneficiaries and Heirs
    • Initial Notices to Creditors and State Agencies
    • The Estate Timeline
    • Other Estate Opening Tasks and Procedures
  • Marshalling the Assets
    10:50 - 11:50, Monte L. Schatz
    • Key Assets to Account for
    • Survivorship vs. Beneficiary Designation
    • Helpful Checklists and Sample Forms
    • Valuation Considerations
    • Filing the Inventory and Appraisal with the Court
    • Handling Antiques, Heirlooms and Unusual Items
    • Digital Assets
  • Handling Debts and Claims Against the Estate
    12:50 - 1:45, Timothy J. Buckley
    • Secured vs. Unsecured Claims
    • Interest on Claims
    • Debts Left Over from Improperly Executed Joint Tenancies
    • Medicaid Estate Recovery and Other Liens
    • Insolvent Estates
  • Key Intestacy Laws You Must Know
    1:45 - 2:30, Jeffrey L. Stoehr
  • Spouse Elective Share and Disclaimers
    2:45 - 3:35, Jeffrey L. Stoehr
    • Making the Election
    • Disclaiming an Interest: Who Can Disclaim, Statutory Requirements, Procedure, Consequences
  • Trusts That Affect Estate Administration
    3:35 - 4:30, Monte L. Schatz
    • When Trusts are Included in the Estate
    • What Must be Done When the Trust Becomes Irrevocable
    • Post-Mortem Trust Funding (Credit Shelter, Marital and Beneficiary Trusts)
    • Designated Beneficiary Trusts

DAY 2

  • Portability and Estate, Gift, GST and Income Tax Returns
    9:00 - 10:00, Matthew Ottemann
    • Determining DSUE and Claiming Portability
    • State and Federal Estate, Gift and GST Taxes - Planning and Reporting
    • Streamlined, Partial-Streamlined and Complete Estate Tax Returns
    • Final Individual Income Tax Return - Federal and State
    • The Interaction of Tax Deductions Between the Estate Tax and Fiduciary Income Tax Returns
  • Handling Distributions
    10:15 - 11:15, Mary L. Wilson
    • Discretionary Distributions
    • Mandatory Distributions
    • Refunding Agreements
    • Spendthrift Trusts and Creditor Attachments
  • Business Interests in Estate Administration
    11:15 - 12:15, William E. Seidler Jr.
    • Valuation Considerations
    • Business Continuation and Non-Family Business Interests
    • Succession Issues - Who Controls the Company (Corporations vs. LLCs)
    • Tax Planning and Reporting
  • Legal Ethics in Estate Administration
    1:15 - 2:15, Mary L. Wilson
    • Who is Your Client? Avoiding Conflicts of Interest
    • Attorney Fees
    • Protecting Confidentiality
    • Are you a Fiduciary? New Fiduciary Liability Rules and FINRA Enforcement Efforts
    • Client Competence Issues
  • Closing the Estate and Final Accounting
    2:30 - 3:30, Mary L. Wilson
    • Final Accounting Step-by-Step
    • Filing the Final Petition; Contents
    • Final Expenses, Debts, Taxes, Fees and Distributions
    • Discharge of Fiduciary
  • Estate and Trust Contests, Disputes, Challenges
    3:30 - 4:30, William E. Seidler Jr.
    • Beneficiary Conflicts
    • Executor and Trustee Disputes
    • Will Contests
    • Concealment Actions
    • Objections to Final Accounts
    • Deterrence - Trustee Selection, Trust Protectors, No-Contest Clauses, etc.

TIMOTHY J. BUCKLEY is an attorney with Adams & Sullivan, P.C., L.L.O. His areas of practice focus on municipal law, estate planning, probate and trust administration, guardianships and conservatorships, civil litigation, and appeals. Prior to being with Adams & Sullivan, Mr. Buckley was an attorney with Morrow Law Partners and was the deputy county attorney for Douglas County Attorney's Office. He is admitted to practice in the state of Nebraska, the U.S. District Court of Nebraska and U.S. Court of Appeals 8th Circuit. Mr. Buckley earned his B.S.J. degree from William Allen White School of Journalism and Mass Communications at the University of Kansas and his J.D. degree from Creighton University School of Law.

CATHERINE DUNN WHITTINGHILL is an attorney with Welch Law Firm, P.C., where she focuses her practice on estate planning, family law, and probate. She is a member of the Omaha Bar Association, Nebraska State Bar Association, and the U.S. District Court, District of Nebraska. Ms. Whittinghill earned her B.A. degree from Trinity University and her J.D. degree from Columbus School of Law, Catholic University of America.

MATTHEW OTTEMANN is an attorney with the law firm of McGrath North. He helps clients facing current or anticipated tax audits and those in need of expert counsel for tax planning and assessment defense. Mr. Ottemann has successfully represented a wide variety of companies in many business sectors in the defense and resolution of tax audits and appeals. He is an experienced estate planner and has been selected to teach estate planning to business students at Creighton University for several years, as well as estate and gift taxation at the Creighton University School of Law. Mr. Ottemann is a member of the Omaha Bar Association, the Nebraska State Bar Association, the American Bar Association and the Nebraska Society of CPAs. He earned his B.S.B.A. degree, summa cum laude, from Creighton University; his J.D. degree, summa cum laude, from Creighton University School of Law; and his LL.M. degree, magna cum laude and valedictorian, from the University of Alabama School of Law.

MONTE L. SCHATZ is a partner at Vandenack Weaver LLC, in Omaha, offering clients a wealth of experience in practice areas vital to business and finance. His practice concentrates on trust administration, probate, estate planning, tax, securities, corporate, and employer-employee relations law. His scope of expertise includes federal and state tax planning and tax issues, as well as federal and state regulatory compliance. Mr. Schatz earned his law degree from the University of South Dakota in Vermillion, South Dakota. In addition, he received a Master of Taxation from the University of Tulsa and he earned a B.A. degree, with high honors, from South Dakota State University in Brookings, South Dakota. Additionally, Mr. Schatz has passed the Series 7 general securities exam, the Series 66 uniform combined state law exam, and the Nebraska life and health exam. He is a member of the Nebraska State, Iowa State, Omaha and American bar associations; State Bar of South Dakota; Omaha Estate Planning Council; and the Omaha Chapter of Society of Financial Service Professionals.

WILLIAM E. SEIDLER JR. is a shareholder in the Omaha law firm of Seidler & Seidler, P.C. Since 1982, Mr. Seidler has practiced in the areas of conservatorship, guardianship, contested wills, estate litigation, contested trusts and estates, trust litigation, and probate litigation. He is rated AV preeminent by Martindale Hubbell. Mr. Seidler has spoken to professional groups on elder law, estate planning, probate law, and corporate law. He a member of the Omaha, Nebraska State, and American bar associations. Mr. Seidler earned his B.A. degree at Drake University and his J.D. degree at Creighton University School of Law.

JEFFREY L. STOEHR is a sole practitioner in Omaha, Nebraska, at the Law Offices of Jeffrey L. Stoehr P.C., LLO. He has a general practice as a sole practitioner, with emphasis on estate probate and administration, estate planning, tax, corporate law, domestic matters, real estate, and medical malpractice. He is involved in litigation in all areas of practice. Mr. Stoehr has made presentations and lectures to private groups, as well as through the bar association and regularly in seminars and workshops of the type being presented here. He is a member of the Omaha, Nebraska State and American bar associations; as well as a member of the Real Property, Probate and Trust Law Section in Nebraska. He is the president and director of the Jan Eric Pusch Charitable Foundation. Mr. Stoehr earned his B.S. degree and his J.D. degree from the University of Nebraska at Lincoln.

MARY L. WILSON is an attorney at Buford Law Office in Omaha, where she practices in the area of aging law. She serves as an attorney for Aging Partners. Ms. Wilson is the first Nebraskan attorney inducted into the National Elder Rights Hall of Fame. She is chair of the Elder Law Section. Ms. Wilson taught law and aging for 12 years at the University of Omaha, Nebraska, and is currently teaching at Creighton University School of Law. She earned her B.A. degree from Wayne State College and her J.D. degree from Creighton University School of Law. Ms. Wilson is a member of the Nebraska State and American bar associations.

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

Accreditation Details:

Continuing Legal Education

NE CLE: 12.00 Includes - Ethics: 1.00
NBI, Inc. is an accredited CLE sponsor in the state of Nebraska. This activity has been approved for 12.0 CLE credits, including 1.0 hour of professional responsibility credit.


International Association for Continuing Education Training

N IACET: 1.20
NBI, Inc. is accredited by the International Association for Continuing Education and Training (IACET) and is authorized to issue the IACET CEU. NBI, Inc. is authorized by IACET to offer 1.2 CEUs for this program. At the end of the program, participants must complete a self-assessment in order to receive credit. 100% attendance is required. (Provider #1004558)

Upon completion of this course, attendee will be able to: 1. Recall what forms of administration exist. 2. List the first steps of the estate administration process. 3. Compare survivorship and beneficiary designation. 4. Compare secured and unsecured debts in estate administration. 5. Explain what happens to the estate when there is no will. 6. Restate the rights of the spouse in estate administration. 7. Explain what happens when the trust becomes irrevocable. 8. Recall what estate and gift tax forms are used in estate administration and when. 9. Provide an example of two types of mandatory distributions. 10. Discuss the role of non-family business interests in estate administration. 11. Distinguish between ethical and unethical practices. 12. List three items that must be included in the final accounting. 13. List at least two executor/trustee disputes.

National Association of State Boards of Accountancy

N NAS: 14.00 Includes - Regulatory Ethics: 1.00, Specialized Knowledge: 5.00, Taxes: 8.00
NBI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. This program is designed to qualify for 14.0 hours (based on 50 minute credit hour) of continuing professional education credit for accountants. For more information regarding administrative policies such as complaint and refund, please contact our offices at (800) 930-6182.

This is a basic level program presented in a group live setting. No advanced preparation or prerequisites are required. This course will: 1. List the first steps of the estate administration process. 2. Compare survivorship and beneficiary designation. 3. Explain what happens to the estate when there is no will. 4. Compare secured and unsecured debts in estate administration. 5. Restate the rights of the spouse in estate administration. 6. Explain what happens when the trust becomes irrevocable. 7. Restate what income tax forms are used in estate administration. 8. Recall what estate and gift tax forms are used in estate administration and when. 9. Provide an example of two types of mandatory distributions. 10. Discuss the role of non-family business interests in estate administration. 11. Distinguish between ethical and unethical practices. 12. List three items that must be included in the final accounting. 13. List at least two executor/trustee disputes. No advanced preparation or prerequisites are required. Field(s) of Study -- Specialized Knowledge; Regulatory Ethics; Taxes.

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Call: 800.930.6182
Fax: 715.835.1405
Mail: NBI
P.O. Box 3067
Eau Claire, WI 54702