NM Specific

Trusts, Estates & Probate

Live Online

New Mexico Probate Process from Start to Finish

Credits Available
Credit Status Total
Financial Planners Approved 8 Total
New Mexico CLE Approved 6.6 Total
CPE for Accountants/NASBA Approved 8 Total
Live Online
6 hours 40 minutes
Christopher Denney
B. Cullen Hallmark
George Kennedy
Ryan Sanchez
With Christopher E. Denney from Silvermark CPAs & Advisors + 3 others

Fri, Dec 11, 00:00 AM – 00:00 PM

Product ID 102519

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$489

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Overview

Handling Probate From Initial Notices Through the Estate Closing

This "a through z" guide to probate is designed to take you from the first days of the estate timeline through all the steps of marshaling and valuing estate assets, locating and paying the creditors, paying the beneficiaries, and laying the estate to rest. You will receive the latest updates on the probate court procedure and tax laws, practical guidance from experienced probate attorneys on using spousal elective share and resolving estate disputes, and sample forms and checklists to speed up the administration process. Build a solid foundation for your probate practice - register today!

  • Learn the procedure, rules and practical steps to effectively administer a probate.
  • Determine what form of administration is appropriate for a specific probate case.
  • Clarify the order of inheritance for an estate when there is no will.
  • Locate assets and obtain ownership documents more easily with a list of local and online resources.
  • Get a complete view of the sequence of events that must happen before the estate can be closed.
  • Identify common actions that trigger malpractice liability and get tips for staying in the clear.
  • Get practical advice for honoring or contesting all claims against the estate.
  • Find new ways to resolve liquidity issues that delay estate closing and final distributions and payments.
  • Learn what common closing mistakes can allow the estate to be re-opened, and how to avoid them.

Abbreviated Agenda

  1. Initial Filing in Probate Court and Estate Timeline
  2. Law of Intestate Succession
  3. Inventory and Appraisement
  4. Sale of Property and Distributions
  5. Probate Property vs. Non-Probate Assets
  6. Handling Claims Against the Estate
  7. Ethics
  8. Probate Disputes and Litigation
  9. Tax Reporting and Post-Mortem Tax Matters
  10. Final Accounting and Closing the Estate

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Related Topics

Product ID 102519

Credit Details

Credits Available
Credit Status Total
Financial Planners Approved 8 Total
New Mexico CLE Approved 6.6 Total
CPE for Accountants/NASBA Approved 8 Total
Select Jurisdiction
CLE
Other

Agenda

All times are shown in

  1. Initial Filing in Probate Court and Estate Timeline

    1. Small Estate Administration
    2. Probate Court Procedure
    3. Estate Timetable/Checklist
    4. Formal vs. Informal Probate Administration
    5. Opening the Estate
      1. Petition for Probate and Administration and Notice of Hearing
      2. Required Notices (to Creditors, Heirs, DHS, IRS)
      3. Sample Forms
    6. What the Personal Representative Needs to Know and Do
    7. When is Ancillary Administration Necessary?

  2. Law of Intestate Succession

    1. Who Can Inherit - Degrees of Kinship and Order of Inheritance
    2. Determining the Share Size
    3. Exceptions and Bars to Inheritance

  3. Inventory and Appraisement

    1. Locating Insurance Policies, Deeds and Other Ownership Documents
    2. Obtaining a Tax ID and Marshaling Property
    3. Preparing the Inventory and Appraisal Forms
    4. Dealing with the Probate Referee
    5. Managing Decedent's Assets During Probate
    6. Handling Common Valuation Issues
    7. When to Hire a Valuation Specialist or Appraiser

  4. Sale of Property and Distributions

    1. Disposition of Real Estate - Title Issues in Probate
    2. Retirement Plans and IRA Distributions
    3. Life Insurance and Other Beneficiary Designations and Accounts
    4. Preliminary and Final Distributions
    5. Calculating Augmented Estate and Spousal Elective Share
    6. Dealing with the Surviving Family Members and Other Beneficiaries
    7. Solving the Problem of Liquidity
    8. Distributions to Trusts

  5. Probate Property vs. Non-Probate Assets

  6. Handling Claims Against the Estate

    1. Required Creditor Notice
    2. Determining Priority of Claims
    3. Allowing and Rejecting Claims, and Paying Them
    4. Handling Lawsuits Against the Estate and the Decedent
    5. Insolvency Issues

  7. Ethics

    1. Who is Your Client? Avoiding Conflicts of Interest
    2. Protecting Client Confidentiality
    3. Attorney Fees
    4. Malpractice Liability Risks
      1. Negligence
      2. Breach of Fiduciary Duty
      3. Fraud

  8. Probate Disputes and Litigation

    1. Beneficiary Liability
    2. Fiduciary Liability
    3. Interpreting Testamentary Intent - Burdens of Proof, Presumptions, Evidence Rules
    4. Revoked, Multiple, Contested Wills
    5. Common Will Construction Problems
    6. Objections to Accounts and Petitions

  9. Tax Reporting and Post-Mortem Tax Matters

    1. Final Tax Returns Timeline, Forms and Filing Procedure
    2. Requesting Deadline Extensions
    3. Income Tax Considerations in Probate
      1. Selecting a Tax Year: Calendar or Fiscal?
      2. Decedent's Final Income Tax Return
      3. Estate Income Tax Return
      4. Tax on Income Earned by Estate after Decedent's Death
      5. Beneficiary Income Tax Considerations
    4. Proper Use of Disclaimers and Valuation Discounts
    5. Claiming Estate Tax Portability
    6. Estate and Gift Tax Considerations - When Do You Need to File Form 706?
    7. Coordinating with Decedent's Accounting or Investment Advisors
    8. GST Tax Implications
    9. Handling Common Property Tax Issues

  10. Final Accounting and Closing the Estate

    1. Estate Accounting Procedure
    2. Closing Certificate for Fiduciaries
    3. Closing Decedent's Remaining Accounts
    4. Personal Representative and Attorney Compensation
    5. Extraordinary Services Compensation
    6. When Reopening the Estate is Warranted

Who Should Attend

This basic level online seminar is designed for professionals who want to be more effective in handling the probate process, including:

  • Attorneys
  • Paralegals
  • CPAs and Accountants
  • Financial Planners and Wealth Managers
  • Tax Professionals
  • Trust Officers

Speakers

Christopher E Denney
Christopher E.
Denney
Silvermark CPAs & Advisors
B. Cullen Hallmark Jr.
B. Cullen
Hallmark, Jr.
Sommer Udall Law Firm, PA
George R Kennedy
George R.
Kennedy
Kemp Smith LLP
Ryan A Sanchez
Ryan A.
Sanchez
Modrall Sperling
Speaker bio
Christopher E Denney

Christopher E. Denney

Silvermark CPAs & Advisors
Christopher Denney

, MPA, MST, CPA, CGMA, ABV, CVA, CM & AA, CFF, CEPA, IFRS, is the managing member with Silvermark CPAs & Advisors, where he has more than 20 years of consulting experience. He has represented three Big 4 accounting firms, some in tax leadership roles, and a Fortune 500 Company as a tax officer. Mr. Denney's strengths are in identifying tax planning opportunities and areas of tax risk, and some of his tax research has been nationally published. He is a member of the American Institute of Certified Public Accountants, and the ABV Section; Indiana CPA Society; National Association of Certified Valuation Analysts; and Ball State University Accounting Department Executive Advisory Council. Mr. Denney earned his B.S. degree in accounting from Ball State University and both of his M.S. degrees, in taxation and professional accountancy, from Indiana University.

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Speaker bio
B. Cullen Hallmark Jr.

B. Cullen Hallmark, Jr.

Sommer Udall Law Firm, PA
B. Cullen Hallmark

is a partner with the Santa Fe law firm of Sommer Udall Law Firm, PA, where he has a general civil practice; including estate planning and administration, real estate, and litigation. Mr. Hallmark has lectured on estate planning and administration to various professional groups. He earned his B.A. degree from St. John's College and his J.D. degree from the University of Texas at Austin. Mr. Hallmark is a member of the State Bar of New Mexico, State Bar of Texas and the First Judicial District Bar Association (former Board of Directors and president).

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Speaker bio
George R Kennedy

George R. Kennedy

Kemp Smith LLP
George Kennedy

is a partner at Kemp Smith LLP. He is in the Corporate and Business department, with a primary focus on estate planning and probate matters. Mr. Kennedy attended the College of William and Mary in Williamsburg, Virginia with a major in history and a minor in classical studies. He attended Wake Forest University School of Law, where he was a member of the Law Review. Prior to joining Kemp Smith, Mr. Kennedy worked at an estate planning law firm in Las Cruces, New Mexico. He currently serves as a professional advisor to the Community Foundation of Southern New Mexico's Annual Estate Planning Institute. Mr. Kennedy also is a director of the State Bar of New Mexico Young Lawyers Division. He is also a director of the State Bar of New Mexico Young Lawyers Division and Real Property Trust and Estate Section.

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Speaker bio
Ryan A Sanchez

Ryan A. Sanchez

Modrall Sperling
Ryan Sanchez

is an attorney at Modrall Sperling, where he focuses on estate planning and taxation. He earned his J.D. degree, magna cum laude, from the University of New Mexico School of Law. While in law school, Mr. Sanchez worked as a research assistant, served on the New Mexico Law Review, and was a member of the National Environmental Law Moot Court team. He also completed an externship with Justice Julie J. Vargas at the New Mexico Supreme Court. Upon graduation, Mr. Sanchez received the Faculty Award, which recognizes outstanding contributions to the law school community. Before attending law school, he earned his undergraduate degree in biology and his Master of Public Health, concentration in epidemiology, both from the University of New Mexico. Mr. Sanchez began his career in the nonprofit sector and state government.

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