Live Seminar

The Probate Process from Start to Finish

Seminar

Date:

Wednesday, March 21, 2018

Time:

8:30 AM - 4:40 PM

Product ID#:

78265ER

Location:

Holiday Inn Bozeman

5 Baxter Lane

Bozeman, MT 59715

$349.00

$339 / Each Additional

$329 / New Professional

Registration Includes Course Book

Credit Information

Continuing Legal Education

  • MT CLE - 6.50

CPE for Accountants

  • CPE for Accountants/NASBA - 8.00

Other

  • Financial Planners - 8.00
  • IACET - 0.70
  • PACE - 8.00

Program Description

Handling Probate From Initial Notices Through the Estate Closing

This "a through z" guide to probate is designed to take you from the first days of the estate timeline through all the steps of marshaling and valuing estate assets, locating and paying the creditors, paying the beneficiaries, and laying the estate to rest. You will receive the latest updates on the probate court procedure and tax laws, practical guidance from experienced probate attorneys on using spousal elective share and resolving estate disputes, and sample forms and checklists to speed up the administration process. Build a solid foundation for your probate practice - register today!

  • Learn the procedure, rules and practical steps to effectively administer a probate.
  • Determine what form of administration is appropriate for a specific probate case.
  • Clarify the order of inheritance for an estate when there is no will.
  • Locate assets and obtain ownership documents more easily with a list of local and online resources.
  • Get a complete view of the sequence of events that must happen before the estate can be closed.
  • Identify common actions that trigger malpractice liability and get tips for staying in the clear.
  • Get practical advice for honoring or contesting all claims against the estate.
  • Find new ways to resolve liquidity issues that delay estate closing and final distributions and payments.
  • Learn what common closing mistakes can allow the estate to be re-opened, and how to avoid them.

Who Should Attend

This basic level seminar is designed for professionals who want to be more effective in handling the probate process, including:

  • Attorneys
  • Paralegals
  • CPAs and Accountants
  • Financial Planners and Wealth Managers
  • Tax Professionals
  • Trust Officers

Course Content

  1. Taking the First Step: Filing an Estate in Probate Court
  2. Law of Intestate Succession
  3. Managing the Inventory and Administering the Estate Effectively
  4. Tax Reporting and Post-Mortem Tax Matters
  5. Ethics
  6. Sale of Property and Distributions
  7. Final Accounting and Closing the Estate
  8. Probate Disputes and Litigation

Continuing Education Credit

Continuing Legal Education – CLE: 6.50 *

Financial Planners – Financial Planners: 8.00

International Association for Continuing Education Training – IACET: 0.70

National Association of State Boards of Accountancy – CPE for Accountants/NASBA: 8.00 *

Professional Achievement in Continuing Education – PACE: 8.00


* denotes specialty credits

Agenda / Content Covered

  1. TAKING THE FIRST STEP: FILING AN ESTATE IN PROBATE COURT
    8:30 - 9:15, Cindy E. Younkin
    1. Small Estate - What it is and How to File
    2. Regular Estate
    3. The Estate Timetable - What You Need to Do
    4. Proving the Will
    5. Challenging the Will
  2. LAW OF INTESTATE SUCCESSION
    9:15 - 10:00, Cindy E. Younkin
    1. Who Can Inherit - Degrees of Kinship and Order of Inheritance
    2. Determining the Share Size
    3. Exceptions and Bars to Inheritance
  3. MANAGING THE INVENTORY AND ADMINISTERING THE ESTATE EFFECTIVELY
    10:15 - 11:15, Brian F. Close
    1. Collecting, Maintaining and Managing Assets
    2. How to Respond to Creditors' Claims
    3. Insolvency
    4. Managing the Estate Cash Responsibly
    5. Disclaimers
  4. TAX REPORTING AND POST-MORTEM TAX MATTERS
    11:15 - 12:15, William M. Hughes
    1. Final Tax Returns Timeline, Forms and Filing Procedure
    2. Requesting Deadline Extensions
    3. Income Tax Considerations in Probate
      1. Selecting a Tax Year: Calendar or Fiscal?
      2. Decedent's Final Income Tax Return
      3. Estate Income Tax Return
      4. Tax on Income Earned by Estate After Decedent's Death
      5. Beneficiary Income Tax Considerations
    4. Proper Use of Disclaimers and Valuation Discounts
    5. Claiming Estate Tax Portability
    6. Estate and Gift Tax Considerations - When Do You Need to File Form 706?
    7. Coordinating With Decedent's Accounting or Investment Advisors
    8. GST Tax Implications
    9. Handling Common Property Tax Issues
  5. ETHICS
    1:15 - 2:15, Lynne Conkling
    1. Who is Your Client? Avoiding Conflicts of Interest
    2. Protecting Client Confidentiality
    3. Attorney Fees
    4. Malpractice Liability Risks
      1. Negligence
      2. Breach of Fiduciary Duty
      3. Fraud
  6. SALE OF PROPERTY AND DISTRIBUTIONS
    2:15 - 3:00, Cindy E. Younkin
    1. Disposition of Real Estate - Title Issues in Probate
    2. Retirement Plans and IRA Distributions
    3. Life Insurance and Other Beneficiary Designations and Accounts
    4. Preliminary and Final Distributions
    5. Calculating Augmented Estate and Spousal Elective Share
    6. Dealing With the Surviving Family Members and Other Beneficiaries
    7. Solving the Problem of Liquidity
    8. Distributions to Trusts
  7. FINAL ACCOUNTING AND CLOSING THE ESTATE
    3:15 - 4:00, Lynne Conkling
    1. Estate Accounting Procedure
    2. Closing Certificate for Fiduciaries
    3. Closing Decedent's Remaining Accounts
    4. Personal Representative and Attorney Compensation
    5. Extraordinary Services Compensation
    6. When Reopening the Estate is Warranted
  8. PROBATE DISPUTES AND LITIGATION
    4:00 - 4:40, Lynne Conkling
    1. Beneficiary Liability
    2. Fiduciary Liability
    3. Interpreting Testamentary Intent - Burdens of Proof, Presumptions, Evidence Rules
    4. Revoked, Multiple, Contested Wills
    5. Common Will Construction Problems
    6. Objections to Accounts and Petitions

BRIAN F. CLOSE is a graduate of the University of Chicago (A.B. degree, 1981) and New York University (LL.M. degree - taxation, 1987). Mr. Close has been practicing estate law in Bozeman since 1994. He was an elected member of the city of Bozeman Charter Commission (2004 - 2007); and also has received the Montana Library Association Intellectual Freedom Award (2007).

LYNNE CONKLING is a senior partner at Conkling Law Firm, and has been recognized for her dedication, leadership and excellence in both engineering and law. A practitioner in transactional law and litigation, Ms. Conkling focuses in the areas of trust, probate, wills, business law, real estate, trademarks, and mediation. Earning her BSEE (Bachelor of Science degree in electronic engineering), Ms. Conkling consulted for both large engineering firms and small start-ups before becoming an attorney. She completed graduate studies at Montana State University and Stanford University. Ms. Conkling earned a Juris Doctorate degree from Concord University School of Law. Her practice includes advocating for and advising clients in both Montana and California. She is admitted to practice in California state courts (district and probate), bankruptcy courts, and presented oral arguments in the Ninth Circuit Court of Appeals. Ms. Conkling is a professional mediator and served as president of the Community Mediation Center in Bozeman, Montana, and continues to volunteer with low income family disputes. She served as president of Toastmasters International Bozeman, treasurer of Rotary International Bozeman, and is a member of the State Bar of California and the American Bar Association.

WILLIAM M. HUGHES CPA/PFS, CFP, is a shareholder in the Butte office of Anderson ZurMuehlen & Co., P.C. Mr. Hughes provides tax services for individuals, partnerships, corporations, employee benefit plans, fiduciaries and estates and personal financial planning services in the area of estate, retirement, income tax, and insurance. His service concentrations are farm and ranch, financial institutions, professional services and contractors. He is a member of the American Institute of CPAs (AICPA), the AICPA Personal Financial Planning and Tax sections, the Montana Society of CPAs and the Butte Chapter of CPAs. Mr. Hughes is also a member of the Butte Chapter of the National Association of Insurance and Financial Advisors and the Butte Sunrise Kiwanis Club. He graduated from Santa Clara University with a B.S. degree in accounting.

CINDY E. YOUNKIN is an attorney with the law firm of McLean, Younkin & Willett, PLLC. Her practice areas include wills, trusts, probate, real estate, water rights, and agriculture/farm and ranch. She has been a guest speaker on water law at Montana State University. Ms. Younkin served three terms in the Montana House of Representatives, 1999 - 2004; majority whip, 2001 and 2003 sessions; and chaired the House of Natural Resources Committee, 2001 and 2003 sessions. She earned her B.S. degree from Montana State University, Bozeman, Montana and her J.D. degree from Lewis and Clark Law School, Portland, Oregon.

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

MT CLE: 6.50 Includes - Ethics: 1.00
Approved for 6.5 hours of CLE credit by the Montana Commission on Continuing Legal Education, including 1.0 hour of ethics.


Financial Planners

N CF: 8.00
This program has been accepted by the Certified Financial Planner Board of Standards Inc. and qualifies for 8.0 hours of CE credit for CFP® Certificants. The Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) and CFP® (with flame design) in the US, which it awards to individuals who successfully complete initial and ongoing certification requirements.

Upon completion of this course, attendee will be able to: 1. Restate from recall the timeline for the estate in probate court. 2. Recall the order of succession in an intestate estate. 3. List key steps of the inventory process. 4. State when the estate income tax return is due and how to request a deadline extension. 5. Identify impermissible behavior that violates ethical rules. 6. Provide one example of a solution to the liquidity problem. 7. List at least two instances in which one can re-open the estate after the closing. 8. List at least three causes of action for probate litigation.

International Association for Continuing Education Training

N IACET: 0.70
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 0.7 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. Restate from recall the timeline for the estate in probate court. 2. Recall the order of succession in an intestate estate. 3. List key steps of the inventory process. 4. State when the estate income tax return is due and how to request a deadline extension. 5. Identify impermissible behavior that violates ethical rules. 6. Provide one example of a solution to the liquidity problem. 7. List at least two instances in which one can re-open the estate after the closing. 8. List at least three causes of action for probate litigation.

National Association of State Boards of Accountancy

N NAS: 8.00 Includes - Behavioral Ethics: 1.00, Specialized Knowledge: 3.00, Taxes: 4.00
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 8.0 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. Accountants should have a basic understanding of probate court procedure and tax laws. This course will: 1. Present ways to determine what form of administration best fits a particular estate. 2. Identify the order of succession in an intestate estate. 3. Examine ways to distinguish probate from non-probate assets. 4. Discuss when and how notices to creditors are to be sent/posted. 5. Examine when estate income tax return is due and how to request a deadline extension. 6. Identify impermissible behavior that violates ethical rules. 7. Explain how augmented estate is calculated. 8. Present at least 2 (two) instances in which one can re-open the estate after the closing. 9. Examine causes of action for probate litigation. No advanced preparation or prerequisites are required. Field(s) of Study -- Specialized Knowledge; Behavioral Ethics; Taxes.

Professional Achievement in Continuing Education

N PACE: 8.00
This seminar qualifies for 8.0 PACE (Professional Achievement in Continuing Education) credit hours for ChFC.


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