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Course Book

PROBATE: Everything You Need to Know.

Course Book

Copyright Date:

June, 2018

Product ID#:

79094CDR

Course Book

Credit Information

Continuing education credit
is not available on this program.


  • For additional questions regarding
  • continuing education credits,
  • please contact us at 866-240-1890
  • or credit@nbi-sems.com
From Event: PROBATE: Everything You Need to Know., held June 2018.

Program Description

Is probate really necessary? How do you distinguish between probate and non probate assets? What are the top mistakes executors commonly make and how can you avoid them from happening? How do you handle difficult, non-divisible, joint, hidden and unusual assets? In this comprehensive, all-inclusive guide to everything probate, you'll get answers to these questions and so much more. Whether you are new to the probate process, or are just needing a refresher, this guide is for you. From petition to inventory to creditors to closing - this guide walks you step by step through the process and procedures, while addressing sticking points along the way. Order today!

Course Content

Day 1: Process, Initial Steps, Executor Mistakes, Wills and Family Disputes

  1. Probate Process and Procedure - Clarified
  2. Law Update; Rule Changes; Recent Developments
  3. Is Probate Necessary? Alternatives and Avoidance
  4. PROBATE VS. NON PROBATE ASSETS - Which Ones Can Pass Outside of Probate?
  5. INITIAL CONFERENCE and Hearing - Timeline, Documents, Statements and Complications
  6. ESTATE ADMINISTRATION: Ensuring Executors Know Their Duties
  7. WILLS: Proving Validity, Petitioning and Top Problems
  8. When the Love is Gone... Tips for Resolving FAMILY DISPUTES in Probate

Day 2: Probate Problems, Disputes, Insolvent Estates, Creditor Issues, Assets, Taxes and Final Accounting

  1. ASSETS: How to Identify, Report and Manage
  2. Top PROBLEMS in Probate
  3. INSOLVENT Estates - How to Handle Them
  4. CREDITOR CLAIM Conundrums
  5. MEDICAID Estate Recovery, VA Liens and More
  6. FINAL ACCOUNTING and TAX Deadlines, Preparation, Coordination, Filing Returns - AND Top IRS Pitfalls!
  7. Handling DISTRIBUTIONS and Closing the Estate Without a Hitch
  8. Ethical Practice Considerations and Concerns in Probate

Continuing Education Credit

Continuing education credit is not available at this time.
For additional questions regarding continuing education credits please contact us at 866-240-1890 or credit@nbi-sems.com.

Agenda / Content Covered

Day 1: Process, Initial Steps, Executor Mistakes, Wills and Family Disputes

  1. Probate Process and Procedure - Clarified
    8:30 - 9:25, Sterling S. Olander
    1. Jurisdiction and Venue Issues
    2. Laws of Intestacy/Heirship; Exceptions
    3. Situs vs. Ancillary
    4. Process and Procedures: Informal vs. Formal
    5. Initial Steps in the Process
    6. Executor Appointment; Taxpayer ID
    7. Letter of Administration
    8. Sample Executor Letter to Beneficiaries
    9. Sample Forms and Documents
  2. Law Update; Rule Changes; Recent Developments
    9:25 - 9:55, Sterling S. Olander
  3. Is Probate Necessary? Alternatives and Avoidance
    10:10 - 11:00, Gregory H. Taggart
  4. PROBATE VS. NON PROBATE ASSETS - Which Ones Can Pass Outside of Probate?
    11:00 - 11:55, Gregory H. Taggart
  5. INITIAL CONFERENCE and Hearing - Timeline, Documents, Statements and Complications
    12:55 - 1:45, Stephen J. Mayfield
  6. ESTATE ADMINISTRATION: Ensuring Executors Know Their Duties
    1:45 - 2:40, Stephen J. Mayfield
    1. Informing PR of Duties (w/ Sample Forms and Documents)
    2. Top Mistakes EXECUTOR's Make
    3. Liability Landmines
    4. Dealing with the Unprofessional Administrator
    5. How Much Compensation Should They Receive?
  7. WILLS: Proving Validity, Petitioning and Top Problems
    2:55 - 3:50, Brooke Ashton and Jaelynn R. Jenkins
    1. State Law, Review and Proving Validity Issues
    2. Petition to Admit Will to Probate
    3. Handling Lost Wills, Partial Revocations
    4. Spousal Election Against Will/Contests
    5. Payment of Death Taxes Will Requirement (Non Probate Property Subject to Tax)
    6. Wills Without Required Formalities
  8. When the Love is Gone... Tips for Resolving FAMILY DISPUTES in Probate
    3:50 - 4:40, Brooke Ashton and Jaelynn R. Jenkins

Day 2: Probate Problems, Disputes, Insolvent Estates, Creditor Issues, Assets, Taxes and Final Accounting

  1. ASSETS: How to Identify, Report and Manage
    8:30 - 9:20, Steven R. Skabelund
    1. Identifying Estate Assets
    2. Reporting
    3. Valuation Methods, Appraisals
    4. Negative Estate Value
    5. Non-Qualified Annuities
    6. 401ks, IRAs, Pensions, Stocks and Retirement Plans
    7. Difficult, Non-Divisible, Joint, Hidden and Unusual Assets
  2. Top PROBLEMS in Probate
    9:20 - 10:10, Steven R. Skabelund
    1. Locating Unknown/Missing Heirs - Best Methods
    2. Intestate Estates
    3. Loans, Gifts or Advancements?
    4. Taxation Impact on Distribution
    5. LLC's and Partnership (Elections)
    6. Sub S Corporations
    7. Death of a Business Owner/Valuation Issues
    8. Multi-Party Accounts
    9. Property: Exempt; Marital; Homestead
    10. Determination of Heirs
  3. INSOLVENT Estates - How to Handle Them
    10:25 - 11:10, Mark J. Morrise
  4. CREDITOR CLAIM Conundrums
    11:10 - 12:00, Mark J. Morrise
    1. Claim Notice, Priority, Rights and Rejection
    2. What Constitutes a Creditor's Claim?
    3. Actions Required to Present a Claim
    4. Secured vs. Unsecured Claims
    5. Interest on Claims
    6. Common Creditor Issues in a Solvent Estate
    7. Why Advertise for Claimants and/or Creditors Even if no Formal Administration?
    8. Creditor's Ability to Create a Probate Estate
  5. MEDICAID Estate Recovery, VA Liens and More
    1:00 - 1:45, Timothy S. Deans
  6. FINAL ACCOUNTING and TAX Deadlines, Preparation, Coordination, Filing Returns - AND Top IRS Pitfalls!
    1:45 - 2:35, Paul W. Jones
    1. The NEW Step-Up Basis AND ATRA Update
    2. State and Federal Estate Tax; Gift Tax Update
    3. Selection of the Tax Year
    4. When to File Form 1041
    5. Portability: Should You File Form 706?
    6. Deductions on the 1041/Final 1040/706
    7. Passive Activity Losses and Basis Adjustments
    8. Transfers on Schedule G and Life Interests
    9. Preparing Final Income Return, Timeline, Forms and Filing Procedures
    10. When a Decedent Didn't File Taxes: IRS Issues
    11. Extensions, Important Elections, Other Deductions
    12. Tax Implications for Sales of Property
  7. Handling DISTRIBUTIONS and Closing the Estate Without a Hitch
    2:50 - 3:40, Paul W. Jones
    1. Preparation, Obtaining Releases and Waivers
    2. Orders, Timing of Distributions, Releases
    3. Mitigating Distribution-Related Tax Consequences
    4. When Beneficiaries are Minors
    5. Partial Distributions, Disclaimers and Divestment Traps
    6. Alternative Methods: Knowing Your Options
    7. Ensuring Thorough Accounting and Settlement of the Estate
    8. Extending, Closing and Re-Opening an Estate
  8. Ethical Practice Considerations and Concerns in Probate
    3:40 - 4:40, Randy M. Lish
    1. Attorney Fee Agreements
    2. Financial Abuse of the Elderly and Disabled
    3. Treatment of Fiduciaries (Executors vs Trustees)
    4. Removing/Discharging PR for Dilatory Conduct
    5. Attorneys' Obligations to Executor and Opposing Parties
    6. Attorneys or Attorneys' Relatives Named as Beneficiaries

BROOKE ASHTON is a shareholder at Mountain West Law (Fetzer Simonsen Booth Jenkins, PC). Her practice areas include estate planning, business and franchise law, and other related fields of law. Ms. Ashton enjoys offering first class legal guidance to individuals and businesses in a small firm environment. She is admitted to practice in Utah. Ms. Ashton is a member of the Utah State Bar (Business Section, Legislative Committee). She earned her B.A. degree from the University of Utah and her J.D. degree from the University of Kentucky College of Law in Lexington, Kentucky, where she received the Cali Award for trusts and estates.

TIMOTHY S. DEANS is an attorney with James H. Deans Law Office where his practice areas include probate and estate administration, immigration, and real property law. Mr. Deans is admitted to practice in Utah. He is a member of the Utah State Bar. Mr. Deans earned his B.S. degree from the University of Utah and his J.D. degree from the University of La Verne College of Law.

JAELYNN R. JENKINS is an attorney with Mountain West Law (Fetzer Simonsen Booth Jenkins, PC), where her practice is devoted to estate planning, non-profits, business law, and franchising. With both transactional and litigation experience, she focuses on creating documents to meet the needs and goals of her clients. Ms. Jenkins is currently a board member of the Repertory Dance Theater. She has served as president of the Young Lawyers Division, and as a board member of the Women Lawyers of Utah. Ms. Jenkins earned her B.S. degree from Brigham Young University and her J.D. degree, cum laude, from Gonzaga School of Law.

PAUL W. JONES is a partner is in the law firm of Hale & Wood, PLLC, where he practices in the areas of tax, business, estate planning, wills, trust, probate, and real estate. He is admitted to practice before the Utah Supreme Court, Federal District Court of Utah and the U.S. Tax Court. Mr. Jones is a member of the Utah State Bar. He is also a licensed certified public accountant. Mr. Jones earned his B.A. degree and his J.D. degree, with honors, from the University of Utah; and his Masters degree from Weber State University.

RANDY M. LISH is a sole practitioner with Randy M. Lish, Attorney at Law in Provo, Utah, where he practices in the areas of trusts and estates, asset protection and probate. He is a former adjunct professor at Utah Valley State College and is a previous lecturer for National Business Institute. Mr. Lish earned his B.A. and J.D. degrees from Brigham Young University. He is a member of the Utah State Bar and the Central Utah Bar Association.

STEPHEN J. MAYFIELD is a partner with York Howell & Guymon where he practices in the areas of corporate law, asset protection, estate planning, federal tax law, charitable giving, and trust and probate administration. Mr. Mayfield advises businesses and individuals on various tax issues within the context of corporate transactions, emerging entities, and estate plans. He is licensed in Utah and Nevada. Mr. Mayfield continues to represent Nevada clients and others who seek to utilize Nevada's favorable asset protection laws and devices. He is a member of the Utah State Bar and the State Bar of Nevada. He earned his B.S. degree from the University of Utah, J.D. degree from the Chicago-Kent College of Law (Illinois Institute of Technology), and his LL.M. degree in taxation from Denver University.

MARK J. MORRISE is a partner with The McCullough Group where his law practice focuses on trusts and estates, estate and gift tax planning, trust and estate administration, asset protection, charitable planning, planning for closely held businesses, and legacy planning. He assists clients with traditional estate plans and also counsels high net worth clients in the use of sophisticated planning techniques, including family LLCs and limited partnerships, sales to irrevocable grantor trusts, and grantor-retained annuity trusts (GRATs). A fellow of the American College of Trust and Estate Counsel and a certified legacy advisor, Mr. Morrise is a frequent presenter at estate planning seminars, and has published articles on estate planning in Zions Community Magazine and the "Money" section of Salt Lake Magazine. He also is the author of two websites, www.utahprobate.com and www.utahestateplans.com, which deal with estate planning issues. Mr. Morrise is a member of the Utah State Bar (past chair of the Estate Planning Section), the Salt Lake Estate Planning Council, and the Salt Lake City Chapter of the Society of Financial Service Professionals (past president and board member). He earned his B.S. degree, magna cum laude, from Brigham Young University and his J.D. degree from the J. Reuben Clark Law School at Brigham Young University.

STERLING S. OLANDER is an attorney with Kirton McConkie where his practice focuses on estate planning, tax planning, tax controversy, guardianships, non-profit organizations, and probate. Mr. Olander also assists businesses with entity formation, restructuring, acquisitions, tax matters, and asset protection planning. He is also a certified public accountant (CPA) with experience preparing complex individual, trust, estate, partnership and corporate tax returns. Mr. Olander is admitted to practice in Utah. He is a member of the Utah State Bar (Tax and Estate Planning sections) and Utah Association of Certified Public Accountants. Mr. Olander earned his B.S. degree from Brigham Young University, hsi L.LM. degree from Brigham Young University, and his J.D. degree, cum laude, from Brigham Young University, J. Reuben Clark Law School.

STEVEN R. SKABELUND is a partner with Skabelund, Wirig & Loos. Mr. Skabelund is one of Utah's premier estate planning attorneys. Over his 30-year career, he has served over 10,000 estate planning clients. Mr. Skabelund's expertise has helped many families plan for what matters most. His services include drafting wills, trusts, powers of attorney, and other basic estate planning documents. Mr. Skabelund also provides advanced asset protection services for many clients throughout the state of Utah. Some of these services include drafting and implementing asset protection trusts, forming limited liability companies (LLCs), creating irrevocable trusts, and other similar asset protection tools. He is admitted to practice in Utah. Mr. Skabelund earned his B.S. degree from Utah State University and J.D. degree from Brigham Young University.

GREGORY H. TAGGART is the owner of Taggart Law, LLC, where he practices estate planning, business planning, and firearms law. He is a member of WealthCounsel. He works in Utah and Wyoming, and is a member of the Utah State Bar (Business Law and Estate Planning Law sections), the Wyoming State Bar Association (Business Law and Estate Planning, Trust & Probate Law sections), and the American Bar Association (Business Law and Real Property, Trust and Estate Law sections). He attended the University of Wyoming College of Law for two years and received his J.D. degree from Thomas Cooley Law School. He has been an adjunct professor at Brigham Young University since 1998. He has written for various Bloomberg magazines, Wealthmanagement.com, and Institutional Investor, among others.

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