Live Seminar

Top Challenges in Estate Administration

Seminar

Date:

2 Day Seminar
Tuesday, June 19, 2018 -
Wednesday, June 20, 2018

Time:

Product ID#:

79068ER

Location:

Crowne Plaza MSP Airport - Mall of America

3 Appletree Square

Bloomington, MN 55425

$575.00

$565 / Each Additional

Registration Includes Course Book

Credit Information

Continuing Legal Education

  • MN CLE - 13.25

CPE for Accountants

  • CPE for Accountants/NASBA - 16.00

Other

  • IACET - 1.40

Program Description

Prevent the Estate Administration Process From Getting Bogged Down in Problems

Complex estates, poor planning, dysfunctional families and other hitches can quickly complicate an estate administration. Do you know how to handle these snags without tacking on unnecessary expenses or prolonging the process? In this program, seasoned faculty will teach you how to avoid or troubleshoot common problems and settle an estate as efficiently as possible. Fine tune your estate administration skills - register today!

  • Minimize frustrations by helping clients understand the process and time it takes.
  • Determine what to do with missing wills or interpretation problems.
  • Find out how to best deal with the personal representative gone rogue.
  • Troubleshoot a variety of asset issues, including missing assets, real estate problems and more.
  • Gain best practices for handling complicated creditor claims.
  • Pick up tips for overcoming frustrations with income tax returns.
  • Make the right decisions when it comes to portability and estate, gift and GST tax dilemmas.
  • Discover how others deal with difficult or uncooperative beneficiaries and heirs.
  • Avoid conflicts of interest and other legal ethics challenges in estate administration.
  • Get real-world solutions to final accounting and closing conundrums.

Who Should Attend

This two-day, intermediate level seminar is designed for:

  • Attorneys
  • Accountants/CPAs
  • Tax Professionals
  • Financial Planners
  • Trust Officers/Administrators/Managers
  • Paralegals

Course Content

DAY 1

  1. Client Misunderstandings About the Process
  2. Impediments to Initial Steps and Notices, Opening the Estate
  3. Personal Representative/Trustee Problems
  4. Creditor's Claims Frustrations
  5. Spouse Elective Share and Disclaimer Difficulties
  6. Business Complications in Estate Administration

DAY 2

  1. Marshalling the Assets: Key Complications
  2. Tax Troubles and Tips
  3. Beneficiary and Heir Problems
  4. Distribution Dilemmas
  5. Legal Ethics Challenges in Estate Administration
  6. Final Accounting and Closing Hitches

Continuing Education Credit

Continuing Legal Education – CLE: 13.25 *

International Association for Continuing Education Training – IACET: 1.40

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


* denotes specialty credits

Agenda / Content Covered

DAY 1

  1. Client Misunderstandings About the Process
    8:30 - 9:30, Chris Tymchuck
    1. Explaining the Process and Managing Expectations
    2. Timing Tips: What to do and When
    3. Keeping Track of Deadlines
  2. Impediments to Initial Steps and Notices, Opening the Estate
    9:30 - 10:45, Chris Tymchuck
    1. Lost Wills, Interpretation Issues, etc.
    2. Petition Problems
    3. Notice to Missing Beneficiaries and Heirs
    4. Difficulties Creditor Notices Create
    5. Twists in Intestate Succession: Complicating Scenarios
  3. Personal Representative/Trustee Problems
    11:00 - 12:00, Ryan M. Prochaska and Jill M. Sauber
    1. Powers and Duties Dilemmas
    2. Unresponsive/Uncooperative Fiduciaries
    3. When a Family Member is the PR/Trustee
    4. Fixing Fiduciary Mistakes
    5. The Rogue Fiduciary
  4. Creditor's Claims Frustrations
    1:00 - 2:15, Ryan M. Prochaska and Jill M. Sauber
    1. Properly Handling Creditors' Claims
    2. Problems with Unsecured and Contested Claims
    3. Medicaid Estate Recovery and Other Liens
    4. Selling Assets to Satisfy Claims
    5. Insolvent Estates
  5. Spouse Elective Share and Disclaimer Difficulties
    2:30 - 3:30, Jeffrey W. Lambert
    1. Elective Share Problems
    2. Disclaimer Issues and Inadvertent Gifting
  6. Business Complications in Estate Administration
    3:30 - 4:40, Jeffrey W. Lambert
    1. Valuation Problems
    2. Dealing with Ongoing Businesses
    3. Succession Complications
    4. Tax Planning and Reporting

DAY 2

  1. Marshalling the Assets: Key Complications
    8:30 - 9:45, Ryan M. Prochaska and Jill M. Sauber
    1. Missing, Hidden and Misidentified Assets
    2. Assets Transferred Prior to Death
    3. Real Estate Problems, Title Issues and Partition of Undivided Interests
    4. Dealing with Holders of Assets
    5. Preparing the Inventory and Appraisal
    6. Digital Assets, Firearms and Other Oddities
  2. Tax Troubles and Tips
    9:45 - 10:45, Erica J. Lindquist
  3. Beneficiary and Heir Problems
    11:00 - 12:15, Abraham Schwager
    1. Beneficiaries Who Are Incapacitated, Minors, or Cannot be Located
    2. Uncooperative Beneficiaries
    3. Disputes Over Property
  4. Distribution Dilemmas
    1:15 - 2:30, Abraham Schwager
    1. Discretionary Distributions
    2. Partial Distributions
    3. Recovering Distributions
    4. Unwanted Assets
    5. Specific Assets and Changed Circumstances
  5. Legal Ethics Challenges in Estate Administration
    2:45 - 3:45, Abraham Schwager
    1. Who is Your Client?
    2. Attorney Fees Dilemmas
    3. Challenges to Protecting Confidentiality
    4. Client Competence Problems
    5. Non-Compliant PRs: Counsel Obligations and Liability
  6. Final Accounting and Closing Hitches
    3:45 - 4:40, Erica J. Lindquist
    1. Problems Preparing the Final Account
    2. Walkthrough of a Complex Accounting
    3. Handling Discrepancies
    4. Closing Obstacles, Including Unhappy Beneficiaries Who May Sue

JEFFREY W. LAMBERT is the principal of the law firm of Jeffrey W. Lambert, P.A., in Wayzata, Minnesota. Since 1976, his main areas of practice include probate and trust administration, business and estate planning, and residential/commercial real estate. Mr. Lambert serves as Wayzata city prosecutor (part-time contract position with the city) and is responsible for prosecution of all petty misdemeanors, misdemeanors and gross misdemeanors occurring within the city of Wayzata. He is a member of the American Bar Association, the Hennepin County Bar Association, the Minnesota State Bar Association, the Wayzata Historical Society, and the Suburban Prosecutor's Association. Mr. Lambert is one of the founding board members of the Wayzata Crime Prevention Coalition. He earned his B.A. degree, cum laude, from the University of Minnesota and his J.D. degree from the University of Minnesota.

ERICA J. LINDQUIST is an attorney with Chestnut Cambronne PA, where she specializes in 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 is a member of the Minnesota State Bar Association's Probate and Trust Law Section, Minnesota Society of Public Accountants, Monday Tax Forum, and Twin Cities Estate Planning Council. She is also the treasurer of Theatre Unbound, a local non-profit organization. Ms. Lindquist earned her B.S.B. degree from the University of Minnesota and her J.D. degree from William Mitchell College of Law.

RYAN M. PROCHASKA is an attorney with Chestnut Cambronne PA, where he practices in the areas of estate planning, estate administration (probate), and asset protection planning. He is a volunteer for the Wills for Heroes Program, participates as a mentor in the Mitchell Hamline School of Law's Mentor Program, and is a member of the Minnesota State Bar Association and the State Bar of Wisconsin, including the Probate and Trust Law Section and Elder Law Section. Mr. Prochaska earned his B.S. degree from the University of Minnesota and his J.D. degree from William Mitchell College of Law.

JILL M. SAUBER is an attorney with Chestnut Cambronne PA, 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 earned her B.S. degree from the University of Minnesota and her J.D. degree from the University of St. Thomas School of Law.

ABRAHAM SCHWAGER is an attorney with Chandler & Brown Ltd, where he focuses on estate planning and business planning. He assists his clients with comprehensive estate planning, including wealth preservation, wealth transfer, and asset protection techniques. Mr. Schwager also works extensively with business owners on formation of business entities, business transition strategies, and sales of businesses. Due to his strong agricultural background, he counts many farm families among his clients. Mr. Schwager frequently presents on the topics of estate planning, business planning, and charitable giving. He is licensed to practice in Minnesota and Wisconsin. Mr. Schwager earned his B.S. degree, with distinction, from Iowa State University; and his J.D. degree, cum laude, from William Mitchell College of Law.

CHRIS TYMCHUCK is the founder of the law firm Unique Estate Law, where she represents estate planning and probate clients throughout Minnesota. The firm focuses on all aspects of estate planning, including specialized wills, trusts, powers of attorney, and medical directives for married couples, young families, blended families, single parents, gay families, and those going through a divorce. Unique Estate Law also handles probate and trust administration, elder law, business succession planning, and cabin planning. Ms. Tymchuck earned her B.A. degree from the University of California, Santa Barbara and her J.D. degree from William Mitchell College of Law. She is a member of the Minnesota State Bar Association's Diversity Committee, Federal Bar Association's Diversity Committee, and Minnesota Lavender Bar Association (former board member). Ms. Tymchuck also teaches a probate course at the Inver Hills paralegal studies program and is a frequent author and speaker on her areas of practice.

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: 13.25 Includes - Ethics: 1.00
This course has been approved by the Minnesota Board of Continuing Legal Education for 13.25 hours of credit, including 1.0 hour of ethics.


International Association for Continuing Education Training

Credit Logo
N IACET: 1.40
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 1.4 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. Summarize the estate administration process. 2. State common complications with wills. 3. Explain what to do with the unresponsive fiduciary. 4. Describe procedures for handling creditor's claims. 5. Report top problems with the spouse elective share. 6. State best practices for dealing with ongoing businesses. 7. Name key real estate problems in estate administration. 8. Identify three potential tax troubles. 9. Restate what to do with uncooperative beneficiaries. 10. Explain what must be done with discretionary distributions. 11. Identify conflicts of interest problems. 12. Describe top issues with the final account.

National Association of State Boards of Accountancy

Credit Logo
N NAS: 16.00 Includes - Regulatory Ethics: 1.00, Specialized Knowledge: 14.00, Taxes: 1.00
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 an intermediate level program presented in a group live setting. Accountants should have a basic understanding of estate administration. This course will: 1. Summarize the estate administration process. 2. State common complications with wills. 3. Explain what to do with the unresponsive fiduciary. 4. Name key real estate problems in estate administration. 5. Describe procedures for handling creditor’s claims. 6. Report top problems with the spouse elective share. 7. State best practices for dealing with ongoing businesses. 8. Identify three potential tax troubles. 10. Restate what to do with uncooperative beneficiaries. 11. Explain what must be done with discretionary distributions. 12. Identify conflicts of interest problems. 13. Describe top issues with the final account. 14. List common types of disputes that may arise during administration. Field(s) of Study -- Regulatory Ethics; Taxes; Specialized Knowledge.

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Mail: NBI
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