How to Settle an Estate for a Client: From A to Z
Understand legal concepts and fiduciary responsibilities in settling an estate or administering a trust. Learn strategies to explain the process to the beneficiaries of a trust or estate. Understand and execute your role as a fiduciary, executor, or trustee to creditors, beneficiaries, and courts.Highlights
- Marshaling of assets, payment of creditors, and distribution and accounting to beneficiaries
- Explaining the needs and limitations of durable powers of attorney, health care directives, and living wills
- Why a will is probated, and on what grounds it may be challenged
- Comprehensive checklists on how to read a will and the duties of an executor and trustee
- Identification and report of estate assets
- What to do and not do as a fiduciary, executor, or trustee: duty of care, investment, informing, payment of debts and taxes, and defending a will contest
- How executors and trustees interact with beneficiaries
- Elective shares and when a spouse might make that choice
- What a trustee needs to know about incompetents and minors
- Rights of creditors, third parties, and beneficiaries
- Key issues in transferring property to a trust and from a trust or estate to a beneficiary
- Identifying income, estate, and inheritance taxes
- Fiduciary accounting: principal and income concepts
- An introduction to drafting an account
- Administration of revocable trusts
- Taking care of an estate before death: power of attorney, health care directives, living wills, and administration of revocable trusts
- Estate basis reporting
- Developments relative to potential estate tax repeal
Registration
PICPA Member: $275
Nonmember: $375
More Information
Course No.
715201
Level:
Basic
Prerequisites:
None
Notes
Accepted for CFP® and IRS credits.
Speaker(s)
Arthur Auerbach
Arthur Auerbach CPA
Course No. 715201
Level: Basic
Prerequisites: None
Notes
Accepted for CFP® and IRS credits.
Arthur Auerbach
Arthur Auerbach CPA
