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Trusts, Estates & Probate

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Indiana Probate and Trust Administration

Credits Available
Credit Status Total
Indiana CLE Approved 6.7 Total
Indiana Paralegal CLE Approved 6.7 Total
CPE for Accountants/NASBA Approved 8 Total
Live Online
6 hours 40 minutes
Patrick Sullivan
Andrew Sumerford
Aaron Shaw
Bret Clement
With Patrick Sullivan from Law Office of Patrick Sullivan, P.C. + 3 others

Tue, Nov 24, 00:00 AM – 00:00 PM

Product ID 102447

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Course Includes
$389

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OnDemand content will be available within 7 days of event date.

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

  1. Probate Process and Overview
  2. Ethics and Estate Administration
  3. Assets, Creditor Claims and Debt Considerations
  4. Distributions, Final Accounting and Closing the Estate
  5. Tax Issues in Probate Administration
  6. Trust Taxation Issues
  7. What You Need to Know About Trusts
  8. Accounting/Distributions in Trust Administration

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Related Topics

Product ID 102447

Credit Details

Credits Available
Credit Status Total
Indiana CLE Approved 6.7 Total
Indiana Paralegal CLE Approved 6.7 Total
CPE for Accountants/NASBA Approved 8 Total
Select Jurisdiction
CLE
Paralegal
Other

Agenda

All times are shown in

  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. Ethics and Estate Administration

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

  3. 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

  4. 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

  5. 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

  6. 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

  7. 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

  8. 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

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

Patrick Sullivan
Patrick
Sullivan
Law Office of Patrick Sullivan, P.C.
Andrew M Sumerford
Andrew M.
Sumerford
Davis Sumerford Dietz
Aaron L Shaw
Aaron L.
Shaw
Shaw Private Client
Bret S Clement
Bret S.
Clement
Ayres Carr & Sullivan, P.C.
Speaker bio
Patrick Sullivan

Patrick Sullivan

Law Office of Patrick Sullivan, P.C.
Patrick Sullivan

is president and founder of the Law Office of Patrick Sullivan, P.C. His family has been practicing law in Indiana for over 100 years. As a fourth-generation attorney, Mr. Sullivan has had direct exposure to the evolution of the practice of law and to the legal institutions in Indiana. His practice areas include business planning, charitable giving, estate planning, litigation, probate, tax planning and family law. Mr. Sullivan graduated from Georgetown University with a Bachelor's of Science degree in finance and international business. He then obtained his juris doctorate from Indiana University's Robert H. McKinney School of Law. In addition to being an attorney, Mr. Sullivan is a Certified Financial Planning (CfP®) practitioner, Chartered Benefits Consultant (CBC), Professional Plan Consultant (PPC), and licensed insurance agent for life, health and long-term care. He has also served in various leadership capacities, including serving as president of Foundational Insurance Advisors, LLC. Mr. Sullivan also serves on the Echelon Board of the Salvation Army. He writes on legal and business matters, and has been both featured and quoted in the Indiana Lawyer. Mr. Sullivan is licensed to practice law in Indiana.

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Speaker bio
Andrew M Sumerford

Andrew M. Sumerford

Davis Sumerford Dietz
Andrew Sumerford

is an attorney with Davis Sumerford Dietz, where he practices in the areas of insurance defense, estate planning, probate, family law, construction law, and general civil practice. Mr. Sumerford earned his B.S. degree from Indiana University and his J.D. degree from Indiana University School of Law - Indianapolis.

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Speaker bio
Aaron L Shaw

Aaron L. Shaw

Shaw Private Client
Aaron Shaw

is an attorney at Shaw Private Client, where he focuses his practice on estate planning, probate, special needs trusts, and elder law. As a veteran of the U.S. Navy, Mr. Shaw brings a unique understanding of the challenges veterans face when navigating the complex world of the Veterans' Administration. His firsthand experience as a father of two special needs children has also given him deep insight into the complexities of special needs planning. He is a regular speaker on estate planning, asset protection, and elder law issues and serves as the Director of the Elder Law Clinic and adjunct law professor at the University of Louisville School of Law. Mr. Shaw is a member of the National Association of Elder Law Attorneys, the Academy of Special Needs Planners, and Elder Law Answers, and is admitted to practice in Ohio, Kentucky, Indiana, and multiple U.S. District courts. He earned his B.A. from Pennsylvania State University, summa cum laude, his M.B.A. from Shippensburg University of Pennsylvania, his J.D., cum laude, from the University of Louisville, and his LL.M. in Estate Planning and Elder Law from Western New England School of Law.

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Speaker bio
Bret S Clement

Bret S. Clement

Ayres Carr & Sullivan, P.C.
Bret Clement

is a shareholder of the Indianapolis law firm of Ayres Carr & Sullivan, P.C., where his practice focuses on estate and business planning, taxation, and commercial litigation. As an adjunct professor of law, Mr. Clement previously taught the estate and gift tax course at Indiana University School of Law. He wrote the sales and use tax, gross income tax, inheritance tax, and property tax explanations for the Indiana Section of Research Institute of America's State and Local Tax Service. Mr. Clement earned his B.B.A. degree, with high honors, from the University of Notre Dame and his J.D. degree, cum laude, from the University of Michigan. He is a member of the Indiana State Bar Association and is admitted to practice law in Indiana.

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Yes, the more people you bring from your organization, the more you save. After the first registration, each additional attendee receives a special discount off of their total tuition.
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