Agenda

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. Probate Property vs. Non-Probate Assets

5. 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

6. 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

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. 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

9. 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

10. 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