Audio CD + Course Book

PROBATE: Everything You Need to Know.

Audio CD + Course Book

Copyright Date:

February, 2018

Product ID#:

78363CDRA

Audio + Course Book

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From Event: PROBATE: Everything You Need to Know., held February 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 keep 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

  1. Probate Process and Procedure - Clarified
  2. ESTATE ADMINISTRATION: Ensuring Executors Know Their Duties
  3. PROBATE VS. NON PROBATE ASSETS - Which Ones Can Pass Outside of Probate?
  4. INITIAL CONFERENCE and Hearing - Timeline, Documents, Statements and Complications
  5. ASSETS: How to Inventory, Locate, Secure, Value and Manage
  6. WILLS: Proving Validity, Petitioning and Top Problems
  7. INSOLVENT Estates and CREDITOR CLAIMS - How to Handle Them
  8. MEDICAID Estate Recovery, VA Liens and More
  9. Is Probate Necessary? Alternatives and Avoidance
  10. TRUST Traps in Probate
  11. FINAL ACCOUNTING in Estate Administration: Everything You Need to Know
  12. TAX Deadlines, Preparation, Coordination, Filing Returns - AND Top IRS Pitfalls!
  13. Ethical Practice Considerations and Concerns in Probate
  14. Handling DISTRIBUTIONS and Closing the Estate Without a Hitch

 

Continuing Education Credit

Continuing Legal Education

Credit Hrs State Credit Approval Expiration
CLE 13.25 CT * 02/15/2020
CLE 16.00 NJ * 11/14/2018
CLE 16.00 NY * 02/15/2020
CLE 13.00 PA * 02/15/2020

* denotes specialty credits

Agenda / Content Covered

Day 1: Process, Initial Steps, Executor Mistakes, Assets and Wills

  1. Probate Process and Procedure - Clarified
    8:30 - 9:30, Rachel Flanagan Frost
    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. ESTATE ADMINISTRATION: Ensuring Executors Know Their Duties
    9:30 - 10:25, Rachel Flanagan Frost
    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?
  3. PROBATE VS. NON PROBATE ASSETS - Which Ones Can Pass Outside of Probate?
    10:40 - 11:35, Stephen E. Diamond
  4. INITIAL CONFERENCE and Hearing - Timeline, Documents, Statements and Complications
    11:35 - 12:30, Stephen E. Diamond
  5. ASSETS: How to Inventory, Locate, Secure, Value and Manage
    1:30 - 2:30, Stephen E. Diamond
    1. Early Distribution of Assets?
    2. Procedures to Locate and Marshall
    3. Sample Forms; Documents
    4. Valuation Methods, Appraisals
    5. Valuing Property
    6. Assets w/ Negative Equity
    7. Reporting of Annuities
    8. Difficult, Non-Divisible, Joint, Hidden and Unusual Assets
    9. 401ks, IRAs, Pensions, Stocks and Retirement Plans
    10. Loaned Items
  6. WILLS: Proving Validity, Petitioning and Top Problems
    2:45 - 3:45, Ian S. MacDonald
    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
  7. INSOLVENT Estates and CREDITOR CLAIMS - How to Handle Them
    3:45 - 4:40, John J. Wadlin

Day 2: Trusts, Taxes, Final Accounting and Closing the Estate

  1. MEDICAID Estate Recovery, VA Liens and More
    8:30 - 9:25, Melissa Manna-Williams
  2. Is Probate Necessary? Alternatives and Avoidance
    9:25 - 10:20, Austin F. DuBois
  3. TRUST Traps in Probate
    10:35 - 11:30, Austin F. DuBois
    1. TEDRA in Probate
    2. Living Trusts, Revocable - Tax and Probate
    3. Bypass, Testamentary and Disclaimer Trust Issues
    4. The ABLE Program/AB Trusts; Special Needs Trusts
    5. Trusts Serving as the Beneficiary
  4. FINAL ACCOUNTING in Estate Administration: Everything You Need to Know
    11:30 - 12:25, Antar P. Jones
  5. TAX Deadlines, Preparation, Coordination, Filing Returns - AND Top IRS Pitfalls!
    1:25 - 2:25, Antar P. 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
  6. Ethical Practice Considerations and Concerns in Probate
    2:40 - 3:40, Antar P. Jones
    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
  7. Handling DISTRIBUTIONS and Closing the Estate Without a Hitch
    3:40 - 4:40, Kristin A. Canty
    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

KRISTIN A. CANTY is a partner with Donohue, O'Connell & Riley PLLC, where she practices in the areas of estate planning and administration and elder law. Ms. Canty is admitted to practice in New York and New Jersey. She is a member of the New York State Bar Association. Ms. Canty earned her B.A. degree from the University of Richmond and her J.D. degree from Rutgers University School of Law, Newark.

STEPHEN E. DIAMOND is a partner in the law firm of Stenger, Roberts, Davis & Diamond, LLP. He practices primarily in the areas of estate planning and administration, business formation and transactions, real estate, and elder law issues. Mr. Diamond is past chairman of and current legal counsel to the Dutchess County Regional Chamber of Commerce, and a past member of the Board of Directors of The Community Foundation of Dutchess County. He is a frequent lecturer on the topics of estate and retirement planning and elder law issues. Mr. Diamond is admitted to practice in New York, Florida, and Massachusetts. He earned his J.D. degree from Pepperdine University and his LL.M. degree, in taxation, from the University of Florida.

AUSTIN F. DuBOIS is a partner with Blustein, Shapiro, Rich & Barone, LLP, where he helps people protect their assets from nursing home and long-term care costs, designs and implements complex and high net worth estate plans, and is general counsel to a select group of businesses. Mr. DuBois is a member of WealthCounsel and ElderCounsel, and regularly educates other attorneys, financial planners, accountants, and the general public about various techniques and topics related to his areas of practice. He is also a member of the Hudson Valley Estate Planning Council. He is admitted to practice law in New York, New Jersey, and Pennsylvania. Mr. DuBois is a cum laude graduate of SUNY Fredonia and received his J.D. degree from Rutgers University School of Law at Camden. He also received his LL.M. degree in taxation, with a focus in estate and business planning, from Temple University Law School.

RACHEL FLANAGAN FROST is a sole practitioner at the Law Office of Rachel Flanagan Frost where she focuses her practice on estate planning, elder law and probate. Ms. Frost is also the special prosecutor for the Beekman Town Court. She is admitted to practice in New York. She is a member of the Dutchess County Bar Association (secretary), Mid-Hudson Women's Bar Association (past president, vice-president, and treasurer), and Elder Abuse Coalition. She is currently serving as an advisory board member of the Dutchess Community College Paralegal Program. Ms. Frost earned her B.S. degree, cum laude, from Marist College and her J.D. degree from Regent University School of Law.

ANTAR P. JONES is the founder of the Law Office of Antar P. Jones, PLLC, located in Brooklyn, New York. His practice concerns, among other things, advising fiduciaries and successful individuals concerning income and estate taxation matters. Mr. Jones' practice involves many complex post mortem taxation issues. In addition to having advised clients regarding insurance trusts, Mr. Jones has advised fiduciaries on taxation matters concerning how living trusts are taxed once the grantor has passed. Also, he has done extensive work concerning the annuity reporting requirements of qualified domestic trusts in addition to how specifically marital deductions operate with respect to such trusts where there is a foreign spouse from a country that has a tax treaty with the United States. Mr. Jones is a member of the New York State Bar Association, where he is active in the Estate and Trust Administration Committee of the Trusts and Estates Section. He received his LL.M degree in taxation from the Graduate Program in Taxation at New York Law School and his J.D. degree from the New York Law School.

IAN S. MacDONALD is a partner with the law office of Daniels, Porco & Lusardi, LLP, where he practices in the areas of municipal law, litigation, elder law, trusts and estates, tax certiorari, and real estate. He is admitted to practice before the U.S. District Court for the Northern District of New York and the U.S. Supreme Court. Mr. MacDonald is a member of the Dutchess County, New York State and American bar associations. He earned his B.A. degree, magna cum laude, from Iona College and his J.D. degree from Albany Law School of Union University.

MELISSA MANNA-WILLIAMS is an attorney with the law firm of Rusk Wadlin Heppner & Martuscello, LLP, where she practices in the areas of estate planning, elder law, and trust and estates. Ms. Manna-Williams is a member of the New York State Bar Association, the Dutchess County Bar Association, Mid-Hudson Women’s Bar Association (president), and Hudson Valley Estate Planning Council (vice president). She earned her B.S. degree from the University of Delaware, her J.D. degree from Pace Law School, and her M.B.A. degree from Pace University-Lubin School of Business.

JOHN J. WADLIN is of counsel with Rusk Wadlin Heppner & Martuscello, LLP, where he focuses in the areas of estate administration, estate planning, and real estate. He is a member of the New York State Bar Association and the Hudson Valley Estate Planning Council. Mr. Wadlin earned his B.S. degree from Syracuse University and his J.D. degree from Syracuse University College of Law.

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:

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Accreditation Details:

Continuing Legal Education

CT CLE: 13.25 Credit Approval Exp
02/15/2020
Includes - Ethics: 1.00
Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. It is the opinion of NBI, Inc. that this activity qualifies for up to 13.25 self-study hours toward your annual CLE requirement in Connecticut, including 1.0 self-study hour(s) of ethics/professionalism.


NJ CLE: 16.00 Credit Approval Exp
11/14/2018
Includes - Ethics: 1.20
This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 16.0 hours of alternative format CLE credit. Of these, 1.2 qualify as hours of alternative learning format credit for ethics/professionalism. No more than 12.0 hours of alternative learning format CLE credit may be earned during a reporting period.


NY CLE: 16.00 Credit Approval Exp
02/15/2020
Includes - Areas of Professional Practice: 15.00, Ethics: 1.00
This nontraditional format course has been approved in accordance with the requirements of the New York State Continuing Legal Education Board for up to 16.0 credit hours. 15.0 hours can be applied to the Areas of Professional Practice requirement and is approved for newly admitted and experienced attorneys. 1.0 hour can be applied toward the ethics and professionalism requirement and is approved for experienced attorneys.


PA CLE: 13.00 Credit Approval Exp
02/15/2020
Includes - Ethics: 1.00
This program has been approved by the Pennsylvania Continuing Legal Education Board. This program may qualify for up to 13.0 hours of distance learning credit, including 12.0 hours of substantive law, practice and procedure CLE credit and 1.0 hour of ethics, professionalism or substance abuse distance learning CLE credit. No more than 6.0 hours of distance learning CLE credit may be earned during a reporting period.


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