Trusts, Estates & Probate

WI Specific

Wisconsin Probate and Trust Administration

Credits Available
Credit Status Total
Montana CLE Approved 6.75 Total
Wisconsin CLE Approved 8 Total
OnDemand
6 hours 36 minutes
Steven Sorenson
Isaiah Richie
Gini Hendrickson
Jake Joling
With Steven R. Sorenson from von Briesen & Roper, s.c. + 3 others
Recorded March 22, 2024
Product ID 97953

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Overview

Creditor Claims, Distributions 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 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.
  • 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. Assets, Creditor Claims and Debt Considerations
  3. Distributions, Final Accounting and Closing the Estate
  4. Accounting/Distributions in Trust Administration
  5. What You Need to Know About Trusts
  6. Ethics and Estate Administration

Related Topics

Product ID 97953

Credit Details

Credits Available
Credit Status Total
Montana CLE Approved 6.75 Total
Wisconsin CLE Approved 8 Total
Select Jurisdiction
CLE

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. 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. 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

  5. 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

  6. Ethics and Estate Administration

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

Steven R Sorenson
Steven R.
Sorenson
von Briesen & Roper, s.c.
Isaiah M Richie
Isaiah M.
Richie
Schloemer Law Firm
Gini L Hendrickson
Gini L.
Hendrickson
Amundsen Davis LLC
Jake C Joling
Jake C.
Joling
Murphy Desmond Lawyers S.C.
Speaker bio
Steven R Sorenson

Steven R. Sorenson

von Briesen & Roper, s.c.
Steven Sorenson

is a shareholder with the law firm of von Briesen & Roper, s.c. He is a member of the American Bar Association Law Foundation, chairs the District Three Wisconsin Office of Lawyer Regulation Committee, and serves on the Ethics Committee of the American Bar Association's Legal Education Committee. Mr. Sorenson formerly served as secretary and president of the State Bar of Wisconsin. He is a former member of the House of Delegates of the American Bar Association, former president of both the National Conference of Bar Presidents and the Wisconsin Law Foundation Fellows, and a current member of the foundation's Board of Trustees. Mr. Sorenson presents lectures throughout the state of Wisconsin on various topics, ranging from real estate law to professional ethics. He earned his undergraduate degree from Luther College and his J.D. degree from Marquette University Law School. During that time, he also attended American University in Washington, D.C. to study national public policy.

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Speaker bio
Isaiah M Richie

Isaiah M. Richie

Schloemer Law Firm
Isaiah Richie

is an attorney at Schloemer Law Firm, located in West Bend, Wisconsin. He concentrates his practice on estate planning, corporate and business law, real estate and property law, guardianship law, and municipal law. Mr. Richie graduated with a degree in business administration, with a major in accounting and a minor in economics, from West Virginia University; and a Juris Doctor Degree from Arizona State University Sandra Day O'Connor School of Law. He is a member of the State Bar of Wisconsin, and a board member and president of the Executive Committee of Washington County Economic Development Corporation. Mr. Richie is admitted to practice law in Wisconsin, and in the United States District Court in the Eastern and Western districts of Wisconsin.

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Speaker bio
Gini L Hendrickson

Gini L. Hendrickson

Amundsen Davis LLC
Gini Hendrickson

is an attorney at Amundsen Davis LLC located in Milwaukee, Wisconsin. Her practice focuses on business law, tax, estate planning, probate and trust administration, real estate for businesses and individuals, and business succession planning for family-owned businesses. Additionally, Ms. Hendrickson aids in the creation of nonprofit entities such as 501(c)3 organizations, as well as corporate and family foundations. She earned her B.A. degree, with honors, from University of Wisconsin Oshkosh; and her J.D. degree from Pace University. Ms. Hendrickson is a member of American Inns of Court, Forum for Women Estate Counselors, Wisconsin Planned Giving Council, and Madison Estate Planning Council; and a board member of Madison Estate Council. She is also a member of ABA Real Property, Trust and Estate Law Section; Litigation: Ethics and Malpractice Committee, and Probate and Fiduciary Litigation Committee. Ms. Hendrickson is admitted to practice law in Wisconsin.

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Speaker bio
Jake C Joling

Jake C. Joling

Murphy Desmond Lawyers S.C.
Jake Joling

is an attorney at Murphy Desmond Lawyers S.C., where he represents clients in estate planning, probate and trust administration. He handles preparation of wills, revocable and irrevocable trusts, financial powers of attorney, healthcare powers of attorney, charitable gifting, guardianships, and special needs trusts. In addition, Mr. Joling drafts and reviews prenuptial and postnuptial agreements, which is especially important in second marriages or where there are children from prior relationships. He earned his B.S. degree, with honors, from the University of Wisconsin La Crosse; and his J.D. degree from University of Wisconsin Law School. Mr. Joling received a Bruce Beilfuss Award for Outstanding Service to the Law School. He is a member of Business Network International (BNI) and the State Bar of Wisconsin. Mr. Joling is admitted to practice law in Wisconsin.

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