Maryland Estate Administration From Start to Finish

MD Specific

Trusts, Estates & Probate

Maryland Estate Administration From Start to Finish

OnDemand

6 hours 33 minutes

With Heather L. Sunderman from McMillan Metro and Faerber, P.C. + 4 others

Recorded September 06, 2024

Product ID 98817

Overview

A Comprehensive Step-By-Step Guide to Estate Administration

Whether you're new to estate administration or need a basic refresher, this course will provide you with a comprehensive overview of estate administration, including proper asset valuation and distribution, taxation, and account closing procedures. You'll also learn how to correctly deal with thorny estate administration debt issues, including jointly held assets, business ownership and complex tax issues. Equip yourself with real-life, practical knowledge to ensure you are fully prepared to handle the entire estate administration process from start to finish - register today!

Learn how to meet every deadline, follow procedures, and complete essential forms.
Identify key estate administration pitfalls you need to avoid.
Come away with helpful forms, sample documents, and checklists to assist in the process.
Acquire strategies to ensure you can help your clients through every step of the probate process.
Manage your client's entire estate administration procedures properly and effectively.
Learn how to tackle complex estate administration issues such as tax issues, jointly held assets, and will contests.
Understand how to properly transfer and distribute assets.
Explore proper procedures and processes when dealing with insurance claims and debt during estate administration.
Gain a better understanding of the probate court's procedures so that you can avoid common pitfalls and mistakes.
Get the latest information on allowances and elections against the will.
Identify how to properly distribute assets to minors, surviving spouses and trusts.

Abbreviated Agenda

Commencement of Proceedings and Information Gathering
Initial Steps to the Estate Administration Process
Marshalling Assets
Handling Creditor Claims and Debt
Complex Issues in Estate Administration
Handling Estate Administration Tax Issues
Distribution and Closing of the Estate
Ethics and Estate Administration

Agenda

All times are shown in

Commencement of Proceedings and Information Gathering
1. Appointment of Estate Administration
  1. Formal vs. Informal Proceedings
  2. Sample Letters of Authority
2. First Meeting With Family or Designated Personal Representative and Determination of Heirs
3. Written Fee Agreements
4. Tips to Locate Information Quickly Using Online and Government Resources
5. Dealing with Multiple States
Initial Steps to the Estate Administration Process
1. Understanding the Laws of Intestacy
2. Sample Estate Administration Checklists, Forms and Required Notices Needed
3. Interpreting Provisions and Terms of Art Found in Wills
4. Using Disclaimers Correctly
Marshalling Assets
1. Procedures to Locating and Marshalling Probate and Non-Probate Assets
  1. Safe Deposit Boxes and Bank Accounts
  2. Real Estate
  3. Brokerage Accounts, 401Ks, IRAs, Pensions and Life Insurance Policies
2. Sample Forms and Documents Needed
3. Appraisers and Valuing the Property of Probate Estates
Handling Creditor Claims and Debt
1. Sample Forms and Required Notices Needed
2. Priority and Payment of Claims
3. Late Claims and Contested Claims
4. Steps to Ensure all Debt is Located and Handled Correctly
  1. What if the Assets Don't Cover the Bills?
  2. Bankruptcy and Foreclosure
5. Selling of Assets and Properly Dealing with Creditors
Complex Issues in Estate Administration
1. Jointly Held Assets
2. Spousal Claims
  1. Allowances and Elections Against the Will
3. Handling Unmarried Couples and Stepchildren
4. Will Contests, Trust and Estate Disputes
5. Business Ownership
6. Agency Problems Involving Guardianships, Conservatorships, Powers of Attorney or Other Agency Relationships
Handling Estate Administration Tax Issues
1. Examples of Forms Needed
2. Federal and State Estate Tax Considerations
3. Income Tax Issues for the Estate and the Heirs
4. Resolving Disputes With Taxing Authorities
5. Deductions and Exemptions
6. How the Generation-Skipping Transfer Tax Affects Your Clients
7. Tax Deadlines and Handling Extensions
8. Sales of Real Property
Distribution and Closing of the Estate
1. Sample Forms, Agreements and Documents Needed
2. Proper Transferring and Distribution of Probate and Non-Probate Assets and Timing of Distributions
  1. Real Estate
  2. 401Ks, IRAs, Pensions and Life Insurance Policies
  3. Distribution of Miscellaneous Assets (Automobiles, Jewelry, Etc.)
3. Distributions in Kind
4. Distribution to Minors, Surviving Spouse and Trusts
5. Disposition of Unclaimed Assets
6. Proper Settlement of the Estate
  1. Formal and Informal Estate Accountings
  2. Choosing the Appropriate Closing Procedure
  3. Compensation and Discharge of the Personal Representative
Ethics and Estate Administration
1. Breach of Fiduciary Responsibility
2. Avoiding Conflicts of Interest
3. Attorney-Client Privilege
4. Fee Agreements

Who Should Attend

This basic level online seminar is designed for professionals who want to be more effective in the estate administration process, such as:

Attorneys
CPAs and Accountants
Paralegals
Wealth Managers
Tax Professionals
Trust Officers

Speakers

Heather L.

Sunderman

McMillan Metro and Faerber, P.C.

Conrad W.

Deitrick

Nelson Mullins

Michael J.

Stelmack

Law Office of Michael J. Stelmack

Jake H.

Polivka

HWK Law Group

Elizabeth H.

Johnson

SPENCE | BRIERLEY, PC

Speaker bio

Conrad W. Deitrick

Nelson Mullins

Conrad Deitrick

is a Partner at Nelson Mullins, and advises high-net-worth clients on a broad range of estate planning and wealth management matters. He assists clients in creating a strong foundation for lifelong and multi-generational estate planning involving a wide variety of assets. Mr. Deitrick advises clients with respect to their wills and trusts; estate and trust administration; estate, gift, income, and generation-skipping transfer tax matters; resolution of estate and trust controversies; and closely held business planning. He works with clients, co-counsel, financial advisers, and accountants on complex transactions and family settlements involving trusts, closely held business entities, and real estate holdings. Mr. Deitrick also advises clients in the administration of large and small probate estates, including post-death estate planning in a changing tax environment. He counsels public charities, private foundations, religious organizations, and other tax-exempt organizations regarding institutional governance issues and management practices, as well as state and federal tax and reporting and disclosure requirements, in both domestic and international contexts. Mr. Deitrick is fluent in German, and has represented clients in international estate planning matters, including a trust-related tax petition to the German federal government, offshore trust transactions, and estate planning with German business and investment entities. He served in the U.S. Army National Guard as an Infantryman (E-4). During his service, Mr. Deitrick provided disaster relief to the state of Florida during hurricane season by distributing food and water, and engaging in armed security patrols. He participated in Operation Empire Shield, providing security for Long Island railroad stations and provided security for the 2009 presidential inauguration. Mr. Deitrick earned his B.A. degree from Flagler College and his J.D. degree, cum laude (administrative editor, Georgetown Law Journal), from Georgetown University Law Center. Mr. Deitrick is admitted to practice in Maryland.

View full profile

TOP FAQs

How do I access my courses?

Courses are available within your account. Simply login to your account and click on My Courses. If you require additional assistance please call our Customer Service Department at 800-930-6182.

Do you have options for attendees who are deaf or hard of hearing?

Closed captioning is available for all Live Webinars. After you've joined the event room, you can enable closed captioning by clicking the "cc" button in the lower right of the player.

What happens if my course is cancelled?

In the unlikely event that NBI cancels or reschedules an upcoming program, each registered attendee will be contacted via email by a representative of NBI. Outreach to attendees begins as soon as NBI is made aware that a program will not move forward at its originally scheduled date and time.

Are multiple attendee discounts available?

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.

When will the OnDemand be available and how long will I have access to the content?

The OnDemand Video will be available to stream within 14 days of live broadcast date. You will have access to the content for 6 months in your account. If you’re a subscriber, you’ll have access to your course recordings until 7 days after the expiration date of the subscription.

What is included with my course purchase?

When you enroll prior to the live event date you will receive access to the live-streaming webinar which will allow you to interact with faculty in real-time. With each course, you will receive access to the content via OnDemand Streaming and the Video Download. Course reference materials are included with each course purchase in a downloadable PDF format.

Will I receive a certificate of completion?

Yes, we'll email you a certificate of completion and store in your account for any future reporting needs.

Can multiple people watch courses and request credit?

While only paid registrants can receive continuing education credit for attending, there are no limitations to the number of viewers at each connection.

Have more questions? Please Contact Us

Looking for Ethics and Specialty CLE Courses?

Individual CLE Pass

Group CLE Pass