Boot Camp: Decedent’s Estate Administration

Master the basics of administering a decedent’s probate estate with this full-day seminar as respected estate planning practitioners guide you through a number of topics, including: meeting with the client; opening the estate; claims against the estate; federal estate tax updates; related income tax matters; distributing assets; and closing the estate. A discussion on ethical estate administration is also included. The program is designed for attorneys who are newer to probate practice, as well as those who need a refresher course on probate estate basics.

 

 

 

 

This segment provides a general overview of what needs to be addressed throughout your first meeting with a potential estate administration client.

 

The speaker examines the basic elements of opening a probate estate, including the determination of whether probate is necessary or appropriate, client communications, procedures for contacting heirs and legatees, basic forms, anticipating will contests, and charitable beneficiaries. A discussion on the Illinois State’s Attorney and/or the Illinois Attorney General’s involvement is also provided.

 

 

In this segment, the speaker explains how to identify and locate heirs in decedent probate estate cases, as well as how to prepare an acceptable Affidavit of Heirship.

 

This segment focuses on the determination of known and potential creditors, publication notices, notices to known creditors, ranking and resolution of claims, and what to do in an insolvent estate.

The speaker provides a brief update on the federal estate tax status, as well as a comprehensive overview of basic estate income tax issues, including estate form 1041, the option of combined estate and trust returns, requests for prompt audit, and distribution of income tax consequences to the beneficiaries.

 

This session examines the ins and outs of using disclaimers throughout the post-death planning procedure.

 

 

The speaker addresses the necessary steps to be taken when closing a probate estate, sending notices to interested parties, making sure creditor’s claims are resolved, creating a plan of distribution, notices to beneficiaries of trusts, and knowing local rules. An overview of the required forms is also provided.

 

There are several ethical issues to consider when handling the probate estate of a decedent. This segment examines those considerations through an interactive discussion on who the attorney represents, engagement letters, final letters, conflicts of interest, and keeping the executor/beneficiaries informed.