Arizona Probate and Trust Administration
Credits Available
| Credit | Status | Total | Until |
|---|---|---|---|
| Arizona CLE |
|
6.75 Total | 06-24-2027 |
Buy This Course
OnDemand Video
Course Book Download
or
Overview
Creditor Claims, Distributions, Tax Issues, and More!
Working through issues that arise through probate and trust administration can be daunting. Are you well-equipped with the tools you need to succeed? This insightful course will take you through steps in probate administration, including information on creditor and debt issues, tax and more. You will also get valuable insight on trust administration, including the handling of accounting, distributions and taxes. Don't miss this opportunity to hone your probate and trust administration skills - register today!
- Take a closer look at the initial steps for filing the estate.
- Discuss what needs to be done to handle creditor claims and debts.
- Make sure everything is in order for the final distribution of the estate.
- Review what issues need to be addressed concerning taxes in probate administration.
- Get the latest information on taxation concerns associated with trusts.
- Explore the different types of trusts and how they are used.
- Learn ways to manage, sell and distribute property and assets in trust administration.
- Gain a better understanding of the distinctions between trust fiduciary accounting and income tax accounting.
Abbreviated Agenda
- Probate Process and Overview
- Assets, Creditor Claims and Debt Considerations
- Distributions, Final Accounting and Closing the Estate
- Tax Issues in Probate Administration
- Trust Taxation Issues
- What You Need to Know About Trusts
- Accounting/Distributions in Trust Administration
- Ethics and Estate Administration
Credit Details
Credits Available
| Credit | Status | Total | Until |
|---|---|---|---|
| Arizona CLE |
|
6.75 Total | 06-24-2027 |
Select Jurisdiction
CLE
Agenda
-
Probate Process and Overview
- Review of the Probate Timeline
- Forms of Administration
- Deadlines to be Aware of
- Documents Used in the Probate Process
- Information Gathering
- Laws of Intestacy
- Initial Petition and Notices
- Sample Forms, Letters and Documents
-
Assets, Creditor Claims and Debt Considerations
- Marshalling Probate and Non-Probate Assets: Key Procedures
- Properly Ensure ALL Debt is Located and Handled
- Required Public Notices to Creditors
- Priority and Payment Determinations for Claims
- Contested Claims and Prescribed Claims
- Appropriately Dealing with Creditors
- Insolvent Estates
- Sale of Assets to Satisfy Creditors
-
Distributions, Final Accounting and Closing the Estate
- Documents Needed to Close the Estate
- Proper Transfer and Timing of Distributions - Probate and Non-Probate Assets
- Distributions in Kind
- Distribution to Minors, Surviving Spouse and Trusts
- Disposition of Unclaimed Assets
- Fees for Personal Representatives and Attorneys
- Annual Accounting Requirements and Format
- Final Accounting Checklist
- Estate Closing Procedures
-
Tax Issues in Probate Administration
- State and Federal Tax Considerations
- Tax Deadlines and Extensions
- Essential Tax Forms and Returns
- Deductions and Exemptions
- Income Tax and Basis Adjustment for Decedent's Assets
- Real Property Tax Considerations
-
Trust Taxation Issues
- Tax Returns: Annual and Final
- Tax Consequences of Trustee's Actions
- Real Property Taxes
- Income Taxation
- Estate and Generation-Skipping Transfer Taxes
- Tax Consequences of Paying Retirement Benefits to Trusts
- Tax Basis in the Assets
-
What You Need to Know About Trusts
- Types of Trusts and Their Purpose
- Jurisdiction
- Duties and Powers of the Trustee
- Valuation of Assets
- Funding a Trust
- Communication with Beneficiaries
- Amending and Modifying the Trust
- Trust Administration Checklist
- Sample Forms and Documents
-
Accounting/Distributions in Trust Administration
- Notices of Proposed Actions
- Uniform Principal and Income Act
- Trust Provisions Concerning Distributions
- Managing, Selling and Distributing Property and Assets
- Investing Assets
- Distinctions Between Trust Fiduciary Accounting and Income Tax Accounting
- Determining Trustee Fees
- Communication with Creditors
- Distribution to Beneficiaries
- Trust Termination
-
Ethics and Estate Administration
- Breach of Fiduciary Responsibility
- Avoiding Conflicts of Interest
- Confidentiality
- Fee Agreements
Who Should Attend
This intermediate level online seminar is designed for professionals who want to be more effective in the probate and trust administration process, such as:
- Attorneys
- CPAs and Accountants
- Tax Professionals
- Financial Planners and Wealth Managers
- Trust Officers
- Paralegals
Speakers
Speaker bio
Anya M. Witmer
is an attorney at Dyer Bregman Ferris Wong & Carter, PLLC, where she practices estate planning, probate administration, and trust formation and administration matters. She earned her Bachelor of Arts in English literature from Arizona State University and was a NALA certified paralegal prior to law school. Ms. Witmer then received her Juris Doctor degree from California Western Law School in San Diego, California, where she graduated, cum laude, and received an Academic Excellence Award for her research and writing on cryptocurrency in estate planning and probate. She is a member of WealthCounsel, the State Bar of Arizona (Probate and Trust Section), Maricopa County Bar Association, and the American Bar Association (Real Property, Trust and Estate Law Section). Ms. Witmer is admitted to practice law in Arizona and California.
Speaker bio
Thomas J. Murphy
is an attorney located in the Ahwatukee area of Phoenix. His practice emphasizes estate planning, elder law (including nursing home issues), all probate matters (including contested matters and guardianships), and tax controversies. Mr. Murphy has regularly appeared before the Arizona Court of Appeals, litigating many of the cutting-edge appellate cases in probate law. He has successfully litigated cases in the U.S. Tax Court, Arizona Tax Court, and the Arizona Board of Tax Appeals. Mr. Murphy is a member of the National Academy of Elder Law Attorneys, State Bar of Arizona (Tax Law, Probate and Trust Law, Mental Health and Elder Law sections), and the Arizona Medicaid Planning Council. He serves on the Advisory Board of the Phoenix Tax Workshop and the Editorial Board of NAELA News. Mr. Murphy graduated from Tufts University, with honors, and earned his J.D. degree from Suffolk University Law School.
Speaker bio
Elizabeth Cole
is managing attorney with Copper Wren Law. She focuses her practice on probate, elder law and real property. Ms. Cole earned her J.D. degree from Sandra Day O'Connor College of Law at Arizona State University. She is admitted to practice law in Arizona.
Speaker bio
Brandon L. Blakely
is an attorney in the Phoenix office of Fennemore Craig, P.C. He is in the firm's trusts and estates practice group. Mr. Blakely's work focuses on drafting complex estate plans and fiduciary documents, preparing trust and probate petitions and developing strategies for fiduciary litigation, as well as completing gift and estate tax filings and trusts accountings. He is also adept at counseling clients on tax planning and anticipating potential changes in tax laws, as well as preserving assets through coordinated estate plan transactions, business succession tactics and entity formation. Mr. Blakely earned his B.A. degree from Arizona State University, his M.S. degree from the University of Kansas and his J.D. degree from the University of Minnesota Law School. He is licensed to practice in Arizona and Minnesota.
Speaker bio
Whitney Sorrell
is the senior partner of Sorrell Law Firm, a boutique tax, business and estate planning firm in Scottsdale Arizona where he advises individuals, families, and businesses on legal matters relating to complex estate planning, business mergers, acquisitions and transactions, trust and probate administration, IRS audits, appeals, and Tax Court matters, as well as income and estate tax planning for wealthy families. Mr. Sorrell earned his Bachelors degree in Finance from Arizona State University; his M.B.A. from the University of Phoenix; his law degree at the Sandra Day O'Connor College of Law, Arizona State University, and an LLM in Tax from Boston University. Prior to practicing law, Whitney worked for five years at the United States Treasury, Department of Internal Revenue Service as a Revenue Agent in the Phoenix District office. Mr. Sorrell became a certified public accountant (CPA) in 1993; is a frequent author of estate planning and tax articles published in various journals; and a national presenter on tax, business, and estate planning topics.
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