Audio CD + Course Book

The Probate Process from Start to Finish

Audio CD + Course Book

Copyright Date:

April, 2018

Product ID#:

78782CDRA

Audio + Course Book

Credit Information

Continuing Legal Education

  • TX CLE - 6.75
From Event: The Probate Process from Start to Finish, held April 2018.

Program Description

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 sample forms and checklists to speed up the administration process. Build a solid foundation for your probate practice - order today!

Course Content

  1. Initial Filing in Probate Court and Estate Timeline
  2. Law of Intestate Succession
  3. Inventory and Appraisement
  4. Probate Property vs. Non-Probate Assets
  5. Handling Claims Against the Estate
  6. Tax Reporting and Post-Mortem Tax Matters
  7. Sale of Property and Distributions
  8. Final Accounting and Closing the Estate

Continuing Education Credit

Continuing Legal Education – CLE: 6.75 TX - Credit Approval Expiration 03/31/2019 *


* denotes specialty credits

Agenda / Content Covered

  1. INITIAL FILING IN PROBATE COURT AND ESTATE TIMELINE
    8:30 - 9:15, Christina L. Woods-Duffy
    1. Small Estate Administration
    2. Probate Court Procedure
    3. Estate Timetable/Checklist
    4. Formal vs. Informal Probate Administration
    5. Opening the Estate
      1. Petition for Probate and Administration and Notice of Hearing
      2. Required Notices (to Creditors, Heirs, DHS, IRS)
      3. Sample Forms
    6. What the Personal Representative Needs to Know and Do
    7. When is Ancillary Administration Necessary?
  2. LAW OF INTESTATE SUCCESSION
    9:15 - 10:00, Kayla R. Wimberley
    1. Who Can Inherit - Degrees of Kinship and Order of Inheritance
    2. Determining the Share Size
    3. Exceptions and Bars to Inheritance
  3. INVENTORY AND APPRAISEMENT
    10:00 - 10:45, Frederic Wolfram
    1. Locating Insurance Policies, Deeds and Other Ownership Documents
    2. Obtaining a Tax ID and Marshaling Property
    3. Preparing the Inventory and Appraisal Forms
    4. Dealing with the Probate Referee
    5. Managing Decedent's Assets During Probate
    6. Handling Common Valuation Issues
    7. When to Hire a Valuation Specialist or Appraiser
  4. PROBATE PROPERTY VS. NON-PROBATE ASSETS
    11:00 - 12:00, Frederic Wolfram
  5. HANDLING CLAIMS AGAINST THE ESTATE
    1:00 - 1:45, Frederic Wolfram
    1. Required Creditor Notice
    2. Determining Priority of Claims
    3. Allowing and Rejecting Claims, and Paying Them
    4. Handling Lawsuits Against the Estate and the Decedent
    5. Insolvency Issues
  6. TAX REPORTING AND POST-MORTEM TAX MATTERS
    1:45 - 2:30, Kayla R. Wimberley
    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
  7. SALE OF PROPERTY AND DISTRIBUTIONS
    2:45 - 3:45, Christina L. Woods-Duffy
    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
  8. FINAL ACCOUNTING AND CLOSING THE ESTATE
    3:45 - 4:40, Kayla R. Wimberley
    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

KAYLA R. WIMBERLEY is an attorney with Matthew Harris Law, PLLC, where she focuses on those clients with needs in the areas of probate, estate planning, and guardianship law. Ms. Wimberley had the honor of serving as intern for the LCU General Counsel, as well as the late Honorable Larry B. “Rusty” Ladd. Ms. Wimberley solidified her passion for the area of estate planning through her time as a staff editor and executive symposium editor for the Estate Planning and Property Law Journal while in law school. She currently serves on the Board of Directors for the Texas Women Lawyer’s Association, and she is the treasurer for the Lubbock County Young Lawyers Association. Ms. Wimberley was raised in Lubbock, is a graduate of Coronado High School and Lubbock Christian University. She received her J.D. degree from the Texas Tech University School of Law.

FREDERIC WOLFRAM is a shareholder in the Wolfram Law Firm, P.C., where his practice areas include commercial litigation, deceptive trade practice litigation, and probate and guardianship litigation. Mr. Wolfram is board certified in civil trial law by the Texas Board of Legal Specialization. He earned his B.A. degree from the University of North Texas and his J.D. degree, with honors, from the University of Texas at Austin. Mr. Wolfram is a member of the Amarillo Bar Association and the State Bar of Texas, and is licensed to practice in both Texas and Colorado.

CHRISTINA L WOODS-DUFFY is a sole practitioner at her firm, Christina L. Woods, Attorney at Law, where she practices primarily in family, criminal, probate, real estate and civil law matters. She earned her B.S.W. degree, summa cum laude, from Lubbock Christian University, her M.P.A. degree from Texas Tech University, and her J.D. degree from Texas Tech University School of Law. During law school, Ms. Woods-Duffy was a member of Texas Tech Law Review and practiced with a third year bar card in the Family Law Clinic Program. Ms. Woods-Duffy is a member of the Texas Family Lawyers Association; Board of Directors of the Legal Aid Society of Lubbock, Inc.; treasurer of the Hockley-Cochran County Bar Association; and former associate member of Texas Tech University School of Law American Inns of Courts.

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: 6.75 Credit Approval Exp
03/31/2019
Includes - Estate Planning and Probate: 6.75
This course is accredited for Minimum Continuing Legal Education credit by the State Bar of Texas Committee on MCLE in the amount of 6.75 credit hours, of which 0.0 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.


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