How to Settle a Client's Estate
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Virtual
8.00 Credits
Member Price $309.00
Non-Member Price $459.00
Overview
You could pay $0 for this course!
This qualifies for reimbursement through the State Workforce Training Express Fund. Firms/companies with fewer than 100 staff will receive 100% reimbusement, and firms/companies with over 100 staff will receive 50% reimbursement. You must register for this course and apply for reimbursement through the Workforce Training Express Fund website three weeks in advance to be eligible. The course code for this program is 1137484. To learn more click here or contact Julia Ekelund at jekelund@mscpaonline.org.
Highlights
Issues involved when settling an estate - marshaling of assets, payment of creditors, & 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, duties of an executor and trustee, and much more Identification and report of estate assets What to do and what not to do as a fiduciary, executor, or trustee - duty of care, investment, informing, payment of debts and taxes, & 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, and why it is relevant Administration of revocable trusts Estate basis reporting
Prerequisites
None
Designed For
Accounting and Financial Professionals who wish to assist in settlement of an estate, regardless of size
Objectives
Understand how creditors’ claims impact a beneficiary’s claims Understand the key provisions in a will or trust Understand the duties of an executor or trustee in relation to beneficiaries and other third parties Identify trusts, wills, and other documents encountered, & their uses Understand the stages of an estate administration including costs, collections, payment of debts/taxes, & distribution to beneficiaries Be aware of the duties a fiduciary and members of the estate planning team owe to creditors, beneficiaries, and the courts
Preparation
None
Non-Member Price $459.00
Member Price $309.00