Agenda

1. Probate Process and Overview

   1. Review of the Probate Timeline
   2. Forms of Administration
   3. Deadlines to be Aware of
   4. Documents Used in the Probate Process
   5. Information Gathering
   6. Laws of Intestacy
   7. Initial Petition and Notices
   8. Sample Forms, Letters and Documents

2. Assets, Creditor Claims and Debt Considerations

   1. Marshalling Probate and Non-Probate Assets: Key Procedures
   2. Properly Ensure ALL Debt is Located and Handled
   3. Required Public Notices to Creditors
   4. Priority and Payment Determinations for Claims
   5. Contested Claims and Prescribed Claims
   6. Appropriately Dealing with Creditors
   7. Insolvent Estates
   8. Sale of Assets to Satisfy Creditors

3. Distributions, Final Accounting and Closing the Estate

   1. Documents Needed to Close the Estate
   2. Proper Transfer and Timing of Distributions - Probate and Non-Probate Assets
   3. Distributions in Kind
   4. Distribution to Minors, Surviving Spouse and Trusts
   5. Disposition of Unclaimed Assets
   6. Fees for Personal Representatives and Attorneys
   7. Annual Accounting Requirements and Format
   8. Final Accounting Checklist
   9. Estate Closing Procedures

4. Tax Issues in Probate Administration

   1. State and Federal Tax Considerations
   2. Tax Deadlines and Extensions
   3. Essential Tax Forms and Returns
   4. Deductions and Exemptions
   5. Income Tax and Basis Adjustment for Decedent's Assets
   6. Real Property Tax Considerations

5. Trust Taxation Issues

   1. Tax Returns: Annual and Final
   2. Tax Consequences of Trustee's Actions
   3. Real Property Taxes
   4. Income Taxation
   5. Estate and Generation-Skipping Transfer Taxes
   6. Tax Consequences of Paying Retirement Benefits to Trusts
   7. Tax Basis in the Assets

6. What You Need to Know About Trusts

   1. Types of Trusts and Their Purpose
   2. Jurisdiction
   3. Duties and Powers of the Trustee
   4. Valuation of Assets
   5. Funding a Trust
   6. Communication with Beneficiaries
   7. Amending and Modifying the Trust
   8. Trust Administration Checklist
   9. Sample Forms and Documents

7. Accounting/Distributions in Trust Administration

   1. Notices of Proposed Actions
   2. Uniform Principal and Income Act
   3. Trust Provisions Concerning Distributions
   4. Managing, Selling and Distributing Property and Assets
   5. Investing Assets
   6. Distinctions Between Trust Fiduciary Accounting and Income Tax Accounting
   7. Determining Trustee Fees
   8. Communication with Creditors
   9. Distribution to Beneficiaries
   10. Trust Termination

8. Ethics and Estate Administration

   1. Breach of Fiduciary Responsibility
   2. Avoiding Conflicts of Interest
   3. Confidentiality
   4. Fee Agreements