Live Seminar

The Ultimate Guide to Probate

Seminar

Date:

Friday, August 17, 2018

Time:

8:30 AM - 4:40 PM

Product ID#:

79723ER

Location:

Holiday Inn Hotel & Suites Maple Grove NW Mpls-Arbor Lakes

11801 Fountains Way

Maple Grove, MN 55369

$359.00

$349 / Each Additional

Registration Includes Course Book

Credit Information

Continuing Legal Education

  • MN CLE - 6.50

CPE for Accountants

  • CPE for Accountants/NASBA - 8.00

Other

  • Financial Planners - 8.00
  • IACET - 0.70
  • NALA - 6.60
  • NFPA
  • PACE - 8.00

Program Description

Your Comprehensive Probate Guide - with an Eye on the Assets

Probate practice is becoming an increasingly marketable skill due to the aging population and clients' reliance on competent attorneys and other professionals who can smoothly guide them through the procedures. In this seminar, our esteemed faculty will provide you with not only an understanding of the step-by-step probate process, but also with a hard-won knowledge for managing issues regarding executors, creditor claims, inventory/accounting, beneficiary distributions and closing the estate. Enhance your practice - register today!

  • Navigate the probate process with ease in our practical, step-by-step walkthrough.
  • Accurately identify, value, prepare and distribute probate assets.
  • Pick up best practices for handling creditor notices and claims.
  • Understand the nuts and bolts of Medicaid estate recovery and remedies available to clients.
  • Find out how to deal with non-cooperative executors, beneficiary disputes, assets in the possession of others and other sticky issues.
  • Gain tips for navigating through tax forms so you can make strategic, money-saving decisions quickly.
  • Learn how to successfully balance the final account and close the estate.

Who Should Attend

This basic-to-intermediate level probate program is for:

  • Attorneys
  • Accountants
  • Enrolled Agents
  • Paralegals
  • Trust Officers
  • Financial Planners
  • Tax Managers/Consultants
  • Auditors/Treasurers
  • Tax Preparers

Course Content

  1. The Probate Process Explained
  2. Distinguishing Between Probate and Non-Probate Assets
  3. Inventory and Satisfying Creditor Claims
  4. Maintaining the Estate and Preparing Assets for Distribution
  5. Beneficiary Distributions, Final Account and Closing of the Estate
  6. Medicaid Estate Recovery Rules, Remedies and Appeals
  7. Tax Deadlines and Preparing, Coordinating and Filing Returns
  8. Ethical Practice Considerations and Concerns in Probate

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 Legal Assistants, Inc. – NALA: 6.60 *

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

National Federation of Paralegal Associations, Inc. – NFPA

Professional Achievement in Continuing Education – PACE: 8.00


* denotes specialty credits

Agenda / Content Covered

  1. The Probate Process Explained
    8:30 - 9:45, Lori D. Skibbie
    1. Initial Considerations and Steps
    2. Roles and Responsibilities
    3. Situs and Ancillary Probate
    4. Forms of Administering an Estate
    5. Laws of Intestacy and Heirship
    6. Exceptions to Succession: Blended Families and More
    7. Executor Appointment and Taxpayer ID Number
    8. Filing Petition to Admit Will to Probate
    9. Notice to Interested Parties
    10. Waivers and Consents Rejections
    11. How to Manage the Non-Professional Executor
    12. Lost Wills, Partial Revocations, and Trends in Will and Trust Contests
  2. Distinguishing Between Probate and Non-Probate Assets
    9:45 - 10:15, Lori D. Skibbie
  3. Inventory and Satisfying Creditor Claims
    10:30 - 11:30, Susan T. Peterson
    1. Strategies for Discovering Assets in the Modern Age, Digital Assets
    2. Dealing with Digital Accounts and Assets
    3. Exempt Property Set-Asides and Family Allowance
    4. Identifying and Valuing Assets
    5. Reporting of Annuities on Inventories
    6. Inventory Issues: Marital Property, Loaned Items and More
    7. Identifying Possible Creditors and Giving Actual Notice
    8. Creditor Priorities and Claims You Should Reject
    9. Insufficient Assets and Abatement
  4. Maintaining the Estate and Preparing Assets for Distribution
    11:30 - 12:00, Susan T. Peterson
    1. Recordkeeping for the Duration of Probate
    2. Handling Non-Divisible/Joint Assets
    3. Rules Regarding Probate Sales of Real Property
    4. Tax Implications for Sales of Property
  5. Beneficiary Distributions, Final Account and Closing of the Estate
    1:00 - 2:00, Susan T. Peterson
    1. Partial Distributions, Disclaimers and Divestment Traps
    2. Mitigating Distribution-Related Tax Consequences
    3. Recovering Assets in the Hands of Others
    4. Settling Disputes with Beneficiaries
    5. Covering Your Assets: Getting Receipts Signed
    6. Classification of Expenses on the Final Account
    7. Balancing the Final Account: Common Mistakes
    8. Extending, Closing and Re-Opening an Estate
  6. Medicaid Estate Recovery Rules, Remedies and Appeals
    2:00 - 2:25, Jill M. Sauber
    1. State and Federal Estate Recovery Regulatory Update
    2. Estate Hearings and Undue Hardship Waivers
    3. Exemptions, Judicial Review and Additional Appeals
  7. Tax Deadlines and Preparing, Coordinating and Filing Returns
    2:40 - 3:40, Erica J. Lindquist
    1. Selection of the Tax Year
    2. When to File Form 1041/Estate Income Tax Return
    3. Portability: Should You File Form 706?
    4. Allocating Items that are Deductible on the 1041/Final 1040/706
    5. Passive Activity Losses and Basis Adjustments
    6. Reporting of Transfers on Schedule G and Life Interests
  8. Ethical Practice Considerations and Concerns in Probate
    3:40 - 4:40, Allison Eklund
    1. Who is Your Client?
    2. Rules of Professional Conduct
    3. Establishing Reasonable Attorney and Paralegal Fees
    4. Attorneys' Obligations to Executor and Opposing Parties
    5. Ethical Risks of Attorneys Serving as Executors
    6. Attorneys or Attorneys' Relatives Named as Beneficiaries
    7. Mock Ethical Scenarios and Recommended Solutions

ALLISON EKLUND has been practicing law in Minnesota since 1998. After two years in general litigation at a large Twin Cities firm, she spent almost eight years in a small firm representing Indian tribes and tribal organization. Ms. Eklund has represented tribal social services departments in child protection proceedings in tribal courts and state courts nationwide. She has helped draft tribal legislation and constitutional amendments and has represented tribes in boundary disputes, natural resource management, treatment as a state under the Clean Water Act, and Federal litigation over multi-state regulatory encroachment on tribal sovereignty. Ms. Eklund spent several years shepherding fee-to-trust applications through the U.S. Department of Interior and Bureau of Indian Affairs. Her exposure to a broad variety of legal issues supports a diverse solo practice where she often represents ranching and construction businesses navigating the complexity of overlapping state, Federal and tribal laws. In addition to Federal Indian law, Ms. Eklund's practice areas include residential and recreational real estate; estate planning; nonprofit and small business formation and consulting; and family and juvenile law. She earned her B.A. degree from St. Olaf College, her M.A. degree from United Theological Seminary, and her J.D. degree from Hamline University School of Law.

ERICA J. LINDQUIST is an attorney at Chestnut Cambronne Attorneys at Law and practices in the areas of estate and gift planning, tax planning and compliance for trusts and estates. She is an active CPA and has more than 10 years of experience in the preparation of estate, trust, gift and individual income tax returns. Ms. Lindquist assists individuals and families in all stages of estate planning from putting together an initial plan, to the asset transfer planning during lifetime and finally the estate and trust administration, including all related tax compliance, after a loved one passes away. She is a member of the Minnesota State Bar Association Probate and Trust Law Section, Minnesota Society of Public Accountants, Monday Tax Forum and Twin Cities Estate Planning Council. Ms. Lindquist received her B.S.B. degree from the University of Minnesota, Curtis L. Carlson School of Management and her J.D. degree from William Mitchell College of Law.

SUSAN T. PETERSON is a shareholder with Henningson & Snoxell Ltd. Ms. Peterson is the chair of the firm's estate planning department and has years of experience counseling individuals and families in estate planning, elder law, probate and trust administration as well as family business succession planning. Ms. Peterson drafts wills and trusts, as well as other estate planning documents for our clients. She works with families on incapacity planning, guardianships and conservatorships, charitable gifting, asset protection planning, and medical assistance planning. She is also experienced in guiding her clients through contested probate and trust matters. Ms. Peterson is a member of the Hennepin County Bar Association, the Minnesota State Bar Association, the National Academy of Elder Law Attorneys, and the Minnesota Women Lawyers. Ms. Peterson received her B.A. degree, magna cum laude, from St. Olaf College; her M.A. degree, summa cum laude, from the University of Nevada, Las Vegas; and her J.D. degree, summa cum laude, from William Mitchell College of Law.

JILL M. SAUBER is an attorney with Chestnut Cambronne Attorneys at Law, where she practices in the areas of elder law with emphasis on long-term care planning, asset protection, and government benefits; estate planning; estate administration (probate); trusts; litigation; and mortuary law. Recently, Ms. Sauber successfully advocated on behalf of her disabled clients, working closely with government officials, to institute changes to the Hennepin County fee policies regarding payment of fees for court-appointed guardians, conservators, and attorneys for In Forma Pauperis (IFP) probate cases. She is a member of the Elder Law Governing Council of the Elder Law Section of the Minnesota State Bar Association. Ms. Sauber received her J.D. degree from the University of St. Thomas School of Law and her B.S. degree from the University of Minnesota.

LORI D. SKIBBIE is an attorney with Estate & Elder Law Services with the Volunteers of America. She practices principally in the areas of estate planning, conservatorships and guardianships, probate, estate and trust administration, and elder law. She is admitted to practice in Minnesota and South Dakota. Ms. Skibbie is a member of the Probate and Trust Section of the Hennepin County Bar Association and the Probate and Trust and Elder Law sections of the Minnesota State Bar Association. Ms. Skibbie received her B.A. degree from Iowa State University and her J.D. degree from Drake Law School.

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

MN CLE: 6.50 Includes - Ethics: 1.00
This course has been approved by the Minnesota Board of Continuing Legal Education for 6.50 hours of credit, 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, attendees should be able to: 1. Explain some of the initial considerations for probate. 2. Distinguish probate assets from non-probate ones. 3. Describe two techniques for locating and filing inventory. 4. Recall one tip for the maintenance of the decedent's estate. 5. Recall two common problems in distributing assets to beneficiaries and balancing the final account. 6. Describe two ways to fight Medicaid estate recovery. 7. Identify tax deadlines for probate-related tax forms. 8. Distinguish ethical practices from unethical ones.

International Association for Continuing Education Training

Credit Logo
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, attendees should be able to: 1. Explain some of the initial considerations for probate. 2. Distinguish probate assets from non-probate ones. 3. Describe two techniques for locating and filing inventory. 4. Recall one tip for the maintenance of the decedent's estate. 5. Recall two common problems in distributing assets to beneficiaries and balancing the final account. 6. Describe two ways to fight Medicaid estate recovery. 7. Identify tax deadlines for probate-related tax forms. 8. Distinguish ethical practices from unethical ones.

National Association of Legal Assistants, Inc.

N LA: 6.60 Includes - Ethics: 1.00
This seminar meets the requirements of the Certifying Board for Legal Assistants of the National Association of Legal Assistants, Inc., for 6.6 hours, including 1.0 ethics, of continuing legal assistant education credit required to maintain the CLA (Certified Legal Assistant) credential.


National Association of State Boards of Accountancy

Credit Logo
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 to intermediate level program presented in a group live setting. Accountants should have a basic understanding of asset valuations and increasingly complex legal processes and tax issues surrounding probate. Upon completion of this course, attendees should be able to: 1. Explain some of the initial considerations for probate. 2. Distinguish probate assets from non-probate ones. 3. Describe two ways to fight Medicaid estate recovery. 4. Describe two techniques for locating and filing inventory. 5. Recall one tip for the maintenance of the decedent’s estate. 6. Identify tax deadlines for probate-related tax forms. 7. Recall two common problems in distributing assets to beneficiaries and balancing the final account. 8. Distinguish ethical practices from unethical ones. Field(s) of Study -- Specialized Knowledge; Taxes; Behavioral Ethics.

National Federation of Paralegal Associations, Inc.

N PAR:
NBI, Inc. is a NFPA approved CLE provider.


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
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