Indiana Estate Administration From Start to Finish

IN Specific

Trusts, Estates & Probate

4.42

Indiana Estate Administration From Start to Finish

OnDemand

6 hours 32 minutes

With Ann M. O'Hara from Dale & Eke, P.C. + 4 others

Recorded September 24, 2024

Product ID 99383

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
Complex Issues in Estate Administration
Handling Estate Administration Tax Issues
Marshalling Assets
Distribution and Closing of the Estate
Handling Creditor Claims and Debt
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
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
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
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
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
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 attorneys. CPAs and accountants, paralegals, wealth managers, tax professionals, and trust officers may also benefit.

Speakers

Ann M.

O'Hara

Dale & Eke, P.C.

Arlene

Kline

Law Office of Arlene Kline

Peter P.

Ten Eyck

Hackman Hulett LLP

Tamara

Carpenter

Tamara Carpenter Attorney at Law

David P.

Murphy

David P. Murphy & Associates PC

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