PROBATE ASSETS: Inventory, Management, Distributions and More

Agenda / Content Covered

1. Discovering and Securing the Assets
   11:00 - 11:30, Louis A. Silverman
   1. Probate vs. Non-Probate
   2. Client Asset Questionnaire (With Sample Forms)
   3. Getting Letters of Authority and Obtaining a Tax ID
   4. Securing Deeds and Titles to Assets
   5. Contacting Banks, Employers, etc.
   6. Locating Hidden Estate Assets
2. Inventory and Valuation - The Complete Checklist
   11:30 - 12:15, Louis A. Silverman
3. Sale, Management and Transfer of the Estate Assets
   12:30 - 1:00, Louis A. Silverman
4. Digital Assets
   1:00 - 1:30, George S.. Peek
   1. Uniform Fiduciary Access to Digital Assets Act (UFADAA)
   2. Identifying Online Assets (Online Brokerage Accounts, Bitcoin, Online Stores, YouTube Channels, Other Social Media)
   3. How are They Owned (or Licensed)?
   4. Obtaining Access
   5. Relevant IP Considerations
   6. Valuation and Sale of Digital Assets
5. Handling Life Insurance, IRAs, Retirement Assets
   1:30 - 2:00, Marty G. Helle
   1. Gaining Access and Getting PR Authority Recognized
   2. Common Beneficiary Designation Issues
   3. Tax Implications
6. Real Estate Issues
   2:30 - 3:15, George S.. Peek
   1. Clearing the Title to Probate Real Estate
   2. Deeds of Distribution
   3. Release of Real Estate Lien
   4. How to Convey Clear Title
   5. Unexpected Intestate Descent of Homestead When Children are Involved (Homestead Issues)
   6. Insolvency Due to Homestead Creditor Protection
   7. Assuming Mortgage on Inherited Real Estate
   8. Contract for Deed
   9. Sale of Real Property in Probate
7. Trust Management and Distribution
   3:15 - 4:00, Marty G. Helle
   1. Handling Estate Distributions to Trusts
   2. What Happens When a Trust Becomes Irrevocable?
   3. Decanting from the Decedent’s Trust to Beneficiary Trusts
   4. Managing Trust Administration
   5. Calculating and Handling Trust Distributions
   6. Tax Issues
8. Preparing Final Account and Distribution Plans
   4:15 - 5:00, Marty G. Helle
   1. Allowances and Elections Against the Will
   2. Balancing the Final Account
   3. Putting Together Distribution Plans
   4. Obtaining Beneficiary Consent
   5. Timing of Distributions
   6. Distributions to Minors
9. Legal Ethics
   5:00 - 6:00, Louis A. Silverman
   1. Who is Your Client?
   2. Guarding Confidentiality
   3. Attorney Fees
   4. Data Security Considerations
   5. Conflicts of Interest

Accreditation Details:

Marty G. Helle is a partner with the law firm of Hoversten, Johnson, Beckmann & Hovey, LLP in Austin, Minnesota. Mr. Helle primarily practices in real estate, probate and related tax matters, and litigation. He also practices in the area of medical assistance and nursing home planning. Mr. Helle received two bachelor’s degrees from Iowa State University; and graduated, with honors, from Drake University Law School. He is licensed to practice in Minnesota, Iowa, and Wisconsin.

George S. Peek is a shareholder with von Briesen & Roper, S.C. in the firms' Trusts & Estates Section. He assists clients in a broad range of estate planning and administration services, including estate and trust administration, preparation of estate planning documents and representations in guardianships/conservatorships; and he is also a frequent presenter in these areas. In addition, he has litigated several complex estate planning issues including inheritance disputes. Beyond his estate planning practice, George counsels both for-profit and not-for-profit businesses on organization, succession, reorganization and real estate. His experience includes contracting, corporate governance and risk management and is premised on gaining an understanding of his clients' financial and non-financial goals. Mr. Peek serves as a panel arbitrator for the State Bar of Wisconsin Panel of Fee Arbitrators for Wis. Stats. Ch. 788 disputes. He earned his B.A. degree from the University of Nebraska-Omaha, and his J.D. degree from Marquette University Law School. Mr. Peek is a member of the State Bar of Wisconsin, American Bar Association, 7th Circuit Bar Association and the Milwaukee Bar Association. He is admitted to practice in Wisconsin, Illinois, U.S. District Court, Eastern and Western Districts of Wisconsin, Western District of Michigan and the U.S. Court of Appeals, 7th Circuit.

Louis A. Silverman is an attorney at Silverman Law Offices, where he practices in the areas of estate planning, estate administration, probate law, and related tax matters. Mr. Silverman became board-certified in estate and trust law by the State Bar of Arizona. His practice emphasizes estate planning, which includes wills and trusts and other estate planning devices; and trust administration and probate, which includes death probate, guardianship, and conservatorship. Mr. Silverman has served as judge pro tern on the Maricopa County Superior Court. He is a member of WealthCounsel, and is a past member of the Elder Law, Mental Health and Special Needs Planning Section of the State Bar of Arizona. Mr. Silverman is on the Board of Trustees of Southwest College of Naturopathic Medicine and past president of the Board of Directors of Tempe Leadership. Mr. Silverman earned his B.S. degree in business from Arizona State University and his J.D. degree from South Texas College of Law in Houston. He is admitted to practice in the state courts of Arizona and Texas, the U.S. District Court for Arizona, and the Western District of Texas.