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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
- Probate Process and Overview
- Assets, Creditor Claims and Debt Considerations
- Distributions, Final Accounting and Closing the Estate
- Tax Issues in Probate Administration
- Trust Taxation Issues
- What You Need to Know About Trusts
- Accounting/Distributions in Trust Administration
- Ethics and Estate Administration
Credit Details
Credits Available
There is no credit available on this course.
Select Jurisdiction
Agenda
-
Probate Process and Overview
- Review of the Probate Timeline
- Forms of Administration
- Deadlines to be Aware of
- Documents Used in the Probate Process
- Information Gathering
- Laws of Intestacy
- Initial Petition and Notices
- Sample Forms, Letters and Documents
-
Assets, Creditor Claims and Debt Considerations
- Marshalling Probate and Non-Probate Assets: Key Procedures
- Properly Ensure ALL Debt is Located and Handled
- Required Public Notices to Creditors
- Priority and Payment Determinations for Claims
- Contested Claims and Prescribed Claims
- Appropriately Dealing with Creditors
- Insolvent Estates
- Sale of Assets to Satisfy Creditors
-
Distributions, Final Accounting and Closing the Estate
- Documents Needed to Close the Estate
- Proper Transfer and Timing of Distributions - Probate and Non-Probate Assets
- Distributions in Kind
- Distribution to Minors, Surviving Spouse and Trusts
- Disposition of Unclaimed Assets
- Fees for Personal Representatives and Attorneys
- Annual Accounting Requirements and Format
- Final Accounting Checklist
- Estate Closing Procedures
-
Tax Issues in Probate Administration
- State and Federal Tax Considerations
- Tax Deadlines and Extensions
- Essential Tax Forms and Returns
- Deductions and Exemptions
- Income Tax and Basis Adjustment for Decedent's Assets
- Real Property Tax Considerations
-
Trust Taxation Issues
- Tax Returns: Annual and Final
- Tax Consequences of Trustee's Actions
- Real Property Taxes
- Income Taxation
- Estate and Generation-Skipping Transfer Taxes
- Tax Consequences of Paying Retirement Benefits to Trusts
- Tax Basis in the Assets
-
What You Need to Know About Trusts
- Types of Trusts and Their Purpose
- Jurisdiction
- Duties and Powers of the Trustee
- Valuation of Assets
- Funding a Trust
- Communication with Beneficiaries
- Amending and Modifying the Trust
- Trust Administration Checklist
- Sample Forms and Documents
-
Accounting/Distributions in Trust Administration
- Notices of Proposed Actions
- Uniform Principal and Income Act
- Trust Provisions Concerning Distributions
- Managing, Selling and Distributing Property and Assets
- Investing Assets
- Distinctions Between Trust Fiduciary Accounting and Income Tax Accounting
- Determining Trustee Fees
- Communication with Creditors
- Distribution to Beneficiaries
- Trust Termination
-
Ethics and Estate Administration
- Breach of Fiduciary Responsibility
- Avoiding Conflicts of Interest
- Confidentiality
- 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
Speaker bio
Matthew D. Pineda
is an attorney with Pineda Law PLLC. He practices in the areas of probate and estates and entrepreneurship. Mr. Pineda is licensed to practice in the state courts of Florida and North Carolina; the United States Tax Court; Federal District Court for the Middle, Northern and Southern districts of Florida; Federal District Court for the Eastern and Middle districts of North Carolina; and the Cherokee Supreme Court. He earned his B.A. degree from the University of Miami; his J.D. degree from Nova Southeastern University, Shepard Broad College of Law; his LL.M. degree in taxation Law from the University of Miami School of Law; and his LL.M. degree in law and entrepreneurship from Duke University School of Law.
Speaker bio
John M. Hemenway
is a founding partner of Bivins & Hemenway, P.A., where he serves as a trusted legal advisor to business owners, real estate investors, and families seeking to preserve and pass down their wealth and values. His practice focuses on estate planning, probate and related tax issues, closely held businesses, and real estate, combining experience in each of these areas to provide a comprehensive approach to transactions and planning. Mr. Hemenway is a cum laude graduate of the University of Florida College of Law, and is named to the Super Lawyers magazine Florida Rising Stars list. He is a member of the Board of Directors of the Tampa Bay Estate Planning Council, and a prior presenter at National Business Institute seminars on both probate and estate planning topics, including IRA trusts and RMDs.
Speaker bio
Oscar A. Sanchez
is a frequent presenter on the topic of professional ethics. He currently serves on the Professional Ethics Committee of The Florida Bar, and he is a past-chair of The Florida Bar's Alternative Dispute Resolution Section. Mr. Sanchez is a Florida Supreme Court certified circuit and appellate mediator, a Florida Supreme Court qualified arbitrator, and is on the roster of the American Arbitration Association Master Mediators Panel. He is a member of the National Association of Distinguished Neutrals. Before founding his statewide mediation firm OAS Mediation, he was an equity partner in an AMLaw 100 law firm. Mr. Sanchez is a graduate of the University of Florida Levin College of Law, earning membership in the Order of the Coif.
Speaker bio
Liz C. Messianu
is a partner in the Miami office of Wicker Smith. She has over 20 years of experience practicing in the areas of probate-estate planning, guardianship administration and litigation, estate and trust administration, real estate transactions and wealth preservations for individuals. Ms. Messianu handles all aspects of estate and trust matters, including probate and trust administration, representing beneficiaries in courtswith a strong emphasis on litigation involving probate matters, estates, trusts, and contested guardianships. She earned her B.B.A. degree from Florida International University and her J.D. and LL.M. degrees from the University of Miami School of Law. Ms. Messianu is fluent in Spanish and is an active member of The Florida Bar, Real Property Probate and Trust Law Section of The Florida Bar, Dade County Bar Association, and the Miami-Dade Probate Bar Association.
Speaker bio
Leah A. Foertsch
is office managing partner with Pannone Lopes Devereaux & O'Gara LLC, and a member of the estate and trust planning, administration and litigation team. Her practice focuses on advising individuals and families in all areas of trust and estate planning, and probate administration. In addition, Ms. Foertsch has extensive experience in representing individuals and businesses in asset protection, wealth management, and tax strategies, and has managed multi-million dollar real estate transactions, including structuring deals and providing title insurance for both commercial and residential properties. She also works with businesses on their succession planning strategies and has advised clients regarding the best structure to meet their needs and goals. Previously, Ms. Foertsch managed the estate planning and real estate practice for the Palm Beach Gardens office of a multi-state law firm, where she also handled the representation of fiduciaries in all aspects of probate administration. She earned her J.D. degree from St. Thomas University School of Law, her Master of Laws in taxation from the University of Miami School of Law, and her undergraduate degree in sociology from Washington and Jefferson College in Pennsylvania. Ms. Foertsch is licensed to practice in Florida; and is a member of The Florida Bar's Tax and Real Property, Probate and Trust sections.
Speaker bio
Patricia D. Blanco
is an attorney in the Miami office of Wicker Smith. She practices in the areas of estates, trusts, guardianship, and real estate matters. Ms. Blanco handles all facets of estate and guardianship administration, as well as complex estate and guardianship litigation. She earned her B.S. degree from Florida International University and her J.D. degree from St. Thomas University School of Law. Ms. Blanco is admitted to practice in Florida and is fluent in Spanish.
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