Live Seminar

PROBATE: Everything You Need to Know.

Seminar

Date:

2 Day Seminar
Wednesday, April 18, 2018 -
Thursday, April 19, 2018

Time:

8:30 AM - 4:40 PM

Product ID#:

78777ER

Location:

Crowne Plaza Houston River Oaks

2712 Southwest Freeway

Houston, TX 77098

$575.00

$565 / Each Additional

Registration Includes Course Book

Credit Information

Continuing Legal Education

  • TX CLE - 13.25

CPE for Accountants

  • CPE for Accountants/NASBA - 16.00

Program Description

Top Mistakes, Do's, Don'ts, Tips and Tricks

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 course is for you. From petition to inventory to creditors to closing - this program walks you step by step through the process and procedures, while addressing sticking points along the way. Register today!

  • Get the probate process and procedure - clarified.
  • Find out top alternatives to (and ways to get out of) probate.
  • Get effective tips for proving the validity of the will and petitioning it, as well as how to handle lost wills.
  • Should there be early distribution of assets? Learn how to quickly identify and decide how to handle this potentially problematic procedure.
  • Review procedures for locating and marshalling assets, with sample forms and documents.
  • Discover which valuation method is best and how to ensure accurate appraisals.
  • Get proven tactics for handling 401ks, IRAs, pensions, stocks and retirement plans.
  • Learn how to tackle insolvent estates.
  • Tackle top trust traps in probate and walk through the final accounting process.
  • Identify key tax deadlines and get techniques for preparing, coordinating and filing returns.

Who Should Attend

This basic-to-intermediate level program is designed for attorneys. Accountants and paralegals will also benefit.

Course Content

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

  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. ASSETS: How to Inventory, Locate, Secure, Value and Manage

Day 2: Disputes, Insolvent Estates, Creditor Issues, Trusts, Taxes and Final Accounting

  1. When the Love is Gone . . . Tips for Resolving FAMILY DISPUTES in Probate
  2. CREDITOR CLAIM Conundrums
  3. INSOLVENT Estates - How to Handle Them
  4. TRUST Traps in Probate
  5. FINAL ACCOUNTING in Estate Administration: Everything You Need to Know
  6. 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 Legal Education – CLE: 13.25 *

National Association of State Boards of Accountancy – CPE for Accountants/NASBA: 16.00 *


* denotes specialty credits

Agenda / Content Covered

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

  1. Probate Process and Procedure - Clarified
    8:30 - 9:20, William R. Hayes
    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
    9:20 - 10:10, William R. Hayes
  3. Is Probate Necessary? Alternatives and Avoidance
    10:25 - 11:00, William R. Hayes
  4. PROBATE VS. NON PROBATE ASSETS - Which Ones Can Pass Outside of Probate?
    11:00 - 12:00, Kurt M. Andreason
  5. INITIAL CONFERENCE and Hearing - Timeline, Documents, Statements and Complications
    1:00 - 1:50, Kurt M. Andreason
  6. ESTATE ADMINISTRATION: Ensuring Executors Know Their Duties
    1:50 - 2:45, Mona L. Cohen
    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
    3:00 - 4:00, Stephen P. Crowder
    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. ASSETS: How to Inventory, Locate, Secure, Value and Manage
    4:00 - 4:40, Mona L. Cohen
    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

Day 2: Disputes, Insolvent Estates, Creditor Issues, Trusts, Taxes and Final Accounting

  1. When the Love is Gone . . . Tips for Resolving FAMILY DISPUTES in Probate
    8:30 - 9:20, Deborah Newman
  2. CREDITOR CLAIM Conundrums
    9:20 - 10:10, Julia Hayes
    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
  3. INSOLVENT Estates - How to Handle Them
    10:25 - 11:00, Julia Hayes
  4. TRUST Traps in Probate
    11:00 - 12:00, Nicholas A. Dupre
    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
  5. FINAL ACCOUNTING in Estate Administration: Everything You Need to Know
    1:00 - 1:45, Don D. Ford III
  6. TAX Deadlines, Preparation, Coordination, Filing Returns - AND Top IRS Pitfalls!
    1:45 - 2:35, Don D. Ford III
    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, Don D. Ford III
    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, Michael B. Newman
    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

KURT M. ANDREASON is the principal of Andreason Law Firm in Sugar Land. He has more than 35 years of experience in probate and trust administration. Mr. Andreason is a well-recognized expert in both basic will and trust planning and sophisticated estate planning strategies. He has been board certified by the Texas Board of Legal Specialization in the area of estate planning and probate law since 1993. Mr. Andreason is a former director of the Southeast Texas Estate Planning Council and is a member of the Texas Academy of Trust and Probate Lawyers. As a member of the ABA’s Taxation Section, he has served as a past-member of the Committee on Estate and Gift Taxation, a nationwide group of attorneys who formulate recommendations on federal estate and gift tax policy. Mr. Andreason has been a published author in Texas probate law. He is the author of a chapter entitled “Income Tax Returns for Decedents and Estates,” published in Texas Estate, Probate and Trust Administration (Matthew Bender & Co.). He has also presented papers and given speeches on Texas estate administration; the handling of nonprobate assets such as life insurance and retirement planning; and the administration, modification and termination of trusts. He has also been named by Texas Monthly magazine as a Super Lawyer in the estates and trusts field for several years in a row. Mr. Andreason earned his B.A. degree, with highest honors, from the University of Texas at Austin; and his J.D. degree, with honors, from the University of Texas School of Law.

MONA L. COHEN is a partner and shareholder in the law firm of Babchick, Cohen & Whitehead, PC, in Bellaire where she concentrates her practice on probate and estate planning. Ms. Cohen is board certified in estate planning and probate law by the Texas Board of Legal Specialization. She is a member of the Houston Bar Association (member, Trusts and Estates Section) and the Houston Estate and Financial Forum. Ms. Cohen earned her B.A. degree from Duke University, her J.D. degree from Washington University and her M.B.A. degree from Washington University.

STEPHEN P. CROWDER is an attorney with Ford + Bergner LLP. Mr. Crowder’s practice areas are concentrated in estate, trust, and guardianship litigation and appellate law. He earned his undergraduate degree from Harding University and his J.D. degree from Baylor Law School. During his time at Baylor Law, Mr. Crowder was a member of the Baylor Law Review, serving as an articles editor and then as a notes and comments editor. He is a member of the State Bar of Texas and the Houston Bar Association (member, Probate, Trusts & Estate Section).

NICHOLAS A. DUPRE is managing partner at Dupre Law Offices, PLLC, where he concentrates his practice on probate, estate and gift tax planning, business planning and taxation, asset protection, estate administration, elder law, charitable organizations, and intellectual property transactions. Mr. Dupre is Board Certified in Estate Planning and Probate by the Texas Board of Legal Specialization. He is licensed to practice in Texas and before the U.S. Tax Court. Mr. Dupre is a member of the Texas, The Woodlands and Houston bar associations. He is also a member of the Houston Business Estate Planning Counsel. Mr. Dupre earned his B.A. degree from Trinity University and his J.D. degree from the Texas A&M School of Law, where he graduated cum laude. He clerked for Judge King and Judge Ferchil in the Tarrant County Probate Courts.

DON D. FORD III is the managing partner with the law firm of Ford + Bergner LLP, and is board certified in estate planning and probate. He has lectured to various professional groups on estate planning, probate and guardianships topics; and practices exclusively in these areas. In 2014, Mr. Ford was appointed by the chief justice of the Texas Supreme Court to serve as a commissioner on the Judicial Branch Certification Commission, to serve as a subject-matter expert in the area of guardianships. Additionally, Mr. Ford served from 2006 to 2014 on the Texas Guardianship Certification Board, where he served as the vice-chair of the committee and chaired the Rules Committee. He has also served on the Editorial Board of the Houston Lawyer Magazine, and the Board of Trustees for the Houston Lawyer Referral Service. Mr. Ford is a member of the Probate, Trusts and Estates sections of both the Houston and Dallas bar associations. He earned both his B.B.A. and J.D. degrees from Baylor University.

JULIA HAYES is an attorney at Hayes & Wilson, PLLC, where she focuses her practice on estate planning, wills and trusts, probate, powers of attorney, medical directives, Medicaid planning, and special needs trusts. She is a member of the Attorneys in Tax and Probate (treasurer), Disability & Elder Law Attorneys Association (member), American Bar Association (member) and National Association of Elder Law Attorneys (member). Ms. Hayes earned her B.A. degree from Rice University and her J.D. degree from the University of Houston Law Center.

WILLIAM R. HAYES is a partner in the law firm of Hayes & Wilson, PLLC. He is a frequent speaker on estate planning, wills and trusts, probate, charitable gifting, disability planning, elder law, and Medicaid. Mr. Hayes has served the Houston Bar Association as co-chair of the Elder Law Committee and chair of the Fee Dispute Committee, for which he was honored with the HBA Presidents Award. He is board certified in estate planning and probate by the Texas Board of Legal Specialization. Mr. Hayes earned his B.B.A. and J.D. degrees from the Southern Methodist University. He is a member of the State Bar of Texas, the Houston and American bar associations, the National Academy of Elder Law Attorneys, the Houston Estate and Financial Forum, the Houston Business and Estate Planning Council, Attorneys in Tax and Probate, the Disability and Elder Law Attorneys Association, and the Houston Gerontological Society.

DEBORAH NEWMAN is the managing partner at Newman Law Firm and has more than 30 years of court room and trial experience representing individuals, major corporations and small business. She practices in probate, personal injury and business law. Ms. Newman has been featured in Forbes Magazine and she was selected to teach at the trial academy for a national trial lawyers association. She is admitted to practice in Texas and the U.S Court of Appeals 5th Circuit. Ms. Newman has successfully argued before the Texas Supreme Court and has been lead counsel in many counties throughout Texas. She has settled and tried hundreds of cases. Ms. Newman earned her B.A. degree from Fairleigh Dickinson University and her J.D. degree from Louis D. Brandeis School of Law.

MICHAEL B. NEWMAN is a partner in the Newman Law Firm in Houston, where his practice areas include fiduciary, probate and commercial litigation, as well as probate and estate administration. His fiduciary practice includes the representation of administrators, beneficiaries, executors and trustees. Mr. Newman has more than 36 years of legal experience in negotiation, settlement and trial of civil cases. He has been a certified mediator since 1992 and has mediated over 400+ cases. Mr. Newman earned his B.B.A. degree, with honors, from the University of Texas at Austin and his J.D. degree from the University of Houston College of Law. He is a member of the Houston Bar Association (member, Probate, Trusts and Estates Section). Mr. Newman is a frequent speaker on probate and ethics topics for attorneys and legal assistants.

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

TX CLE: 13.25 Includes - Ethics: 1.00
This course is accredited for Minimum Continuing Legal Education credit by the State Bar of Texas Committee on MCLE in the amount of 13.25 credit hours, of which 1.0 credit hour will apply to legal ethics/professional responsibility credit. Hours in attendance at National Business Institute CLE seminars may be applied to the minimum Judicial Education requirement. This course has been approved by the Texas Board of Legal Specialization for certification and recertification continuing legal education requirements for attorneys and legal assistants.


National Association of State Boards of Accountancy

N NAS: 16.00 Includes - Regulatory Ethics: 1.00, Specialized Knowledge: 8.00, Taxes: 7.00
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 16.0 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 to intermediate level program presented in a group live setting. Accountants should have a basic understanding of distinguishing between probate and non probate assets. Upon completion of this course, attendees should be able to: 1. State the probate process. 2. List two alternatives to probate. 3. State how to prove the validity of the will. 4. List one tip for how to identify probate vs. non probate assets. Field(s) of Study -- Specialized Knowledge; Taxes; Regulatory Ethics.

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