Faculty Course Information

Online Seminar

New York Probate Process from Start to Finish

Handling Probate From Initial Notices Through the Estate Closing

Division
NBI (98356)
Event Date
06/14/2024
Event Time
8:30 AM - 4:10 PM EDT
Event Planner
Lauren Burton
Email
lauren.burton@nbi-sems.com
Phone
715.835.8525

Program Description

Handling Probate From Initial Notices Through the Estate Closing

This "a through z" guide to probate is designed to take you from the first days of the estate timeline through all the steps of marshaling and valuing estate assets, locating and paying the creditors, paying the beneficiaries, and laying the estate to rest. You will receive the latest updates on the probate court procedure and tax laws, practical guidance from experienced probate attorneys on using spousal elective share and resolving estate disputes, and sample forms and checklists to speed up the administration process. Build a solid foundation for your probate practice - register today!

  • Learn the procedure, rules and practical steps to effectively administer a probate.
  • Determine what form of administration is appropriate for a specific probate case.
  • Clarify the order of inheritance for an estate when there is no will.
  • Locate assets and obtain ownership documents more easily with a list of local and online resources.
  • Get a complete view of the sequence of events that must happen before the estate can be closed.
  • Identify common actions that trigger malpractice liability and get tips for staying in the clear.
  • Get practical advice for honoring or contesting all claims against the estate.
  • Find new ways to resolve liquidity issues that delay estate closing and final distributions and payments.
  • Learn what common closing mistakes can allow the estate to be re-opened, and how to avoid them.

Who Should Attend

This basic level online seminar is designed for professionals who want to be more effective in handling the probate process, including:

  • Attorneys
  • Paralegals
  • CPAs and Accountants
  • Financial Planners and Wealth Managers
  • Tax Professionals
  • Trust Officers

Course Content

  1. Initial Filing in Probate Court and Estate Timeline
  2. Law of Intestate Succession
  3. Inventory and Appraisement
  4. Tax Reporting and Post-Mortem Tax Matters
  5. Probate Property vs. Non-Probate Assets
  6. Handling Claims Against the Estate
  7. Ethics
  8. Final Accounting and Closing the Estate
  9. Probate Disputes and Litigation

Agenda / Content Covered

All times are shown in Eastern time.
  1. Initial Filing in Probate Court and Estate Timeline
    8:30 - 9:15, Stephen E. Diamond
    1. Small Estate Administration
    2. Probate Court Procedure
    3. Estate Timetable/Checklist
    4. Formal vs. Informal Probate Administration
    5. Opening the Estate
      1. Petition for Probate and Administration and Notice of Hearing
      2. Required Notices (to Creditors, Heirs, DHS, IRS)
      3. Sample Forms
    6. What the Personal Representative Needs to Know and Do
    7. When is Ancillary Administration Necessary?
  2. Law of Intestate Succession
    9:15 - 9:50, Stephen E. Diamond
    1. Who Can Inherit - Degrees of Kinship and Order of Inheritance
    2. Determining the Share Size
    3. Exceptions and Bars to Inheritance
  3. Inventory and Appraisement
    9:50 - 10:35, Kristen M. Walsh
    1. Locating Insurance Policies, Deeds and Other Ownership Documents
    2. Obtaining a Tax ID and Marshaling Property
    3. Preparing the Inventory and Appraisal Forms
    4. Filing of Surrogate's Court Inventory
    5. Managing Decedent's Assets During Probate
    6. Handling Common Valuation Issues
    7. When to Hire a Valuation Specialist or Appraiser
  4. Tax Reporting and Post-Mortem Tax Matters
    10:50 - 11:35, David D. Fenster
    1. Final Tax Returns Timeline, Forms and Filing Procedure
    2. Requesting Deadline Extensions
    3. Income Tax Considerations in Probate
      1. Selecting a Tax Year: Calendar or Fiscal?
      2. Decedent's Final Income Tax Return
      3. Estate Income Tax Return
      4. Tax on Income Earned by Estate after Decedent's Death
      5. Beneficiary Income Tax Considerations
    4. Proper Use of Disclaimers and Valuation Discounts
    5. Claiming Estate Tax Portability
    6. Estate and Gift Tax Considerations - When Do You Need to File Form 706?
    7. Coordinating with Decedent's Accounting or Investment Advisors
    8. GST Tax Implications
    9. Handling Common Property Tax Issues
  5. Probate Property vs. Non-Probate Assets
    11:35 - 12:10, Elizabeth A. Ingold
  6. Handling Claims Against the Estate
    12:10 - 12:55, Elizabeth A. Ingold
    1. Required Creditor Notice
    2. Determining Priority of Claims
    3. Allowing and Rejecting Claims, and Paying Them
    4. Handling Lawsuits Against the Estate and the Decedent
    5. Insolvency Issues
  7. Ethics
    1:25 - 2:25, Elizabeth A. Ingold
    1. Who is Your Client? Avoiding Conflicts of Interest
    2. Protecting Client Confidentiality
    3. Attorney Fees
    4. Malpractice Liability Risks
      1. Negligence
      2. Breach of Fiduciary Duty
      3. Fraud
  8. Final Accounting and Closing the Estate
    2:40 - 3:25, Ari I. Bauer
    1. Estate Accounting Procedure
    2. Sale of Property and Distributions
    3. Closing Certificate for Fiduciaries
    4. Closing Decedent's Remaining Accounts
    5. Personal Representative and Attorney Compensation
    6. Extraordinary Services Compensation
    7. When Reopening the Estate is Warranted
  9. Probate Disputes and Litigation
    3:25 - 4:10, Ari I. Bauer
    1. Beneficiary Liability
    2. Fiduciary Liability
    3. Interpreting Testamentary Intent - Burdens of Proof, Presumptions, Evidence Rules
    4. Revoked, Multiple, Contested Wills
    5. Common Will Construction Problems
    6. Objections to Accounts and Petitions

Materials Due Date: 05/10/2024


Materials

If you're covering any of the following topics, you must include the (identified) sample documents and any other sample forms/checklists of your choice with your materials:

  • I. Initial Filing in Probate Court and Estate Timeline (estate administration timeline and checklist, sample initial notices)
  • III. Inventory and Appraisement (sample inventory template (blank or with sample assets), sample appraisal)
  • V. Handling Claims Against the Estate (Sample creditor notice, sample letter rejecting a claim)
  • VI. Tax Reporting and Post-Mortem Tax Matters (sample tax forms used in estate administration)
  • IX. Final Accounting and Closing the Estate (sample accounting)

Attendees love forms! Even if your topics are not above - if you can think of any templates, checklists, letters, agreements, provision language, reports, or legal and tax forms that are appropriate for your topic - you are highly encouraged to provide them.

Event Materials Support

Email: eventmaterials@nbi-sems.com

Phone: (800) 777-8707



Ari I. Bauer is a partner at Catania, Mahon & Rider, PLLC, where he focuses his practice in the areas of trust and estate litigation, medical malpractice defense, personal injury and commercial litigation. He received his B.S. degree at SUNY Albany, where he graduated summa cum laude; and his J.D. degree at Fordham Law School, where he graduated cum laude. Mr. Bauer is admitted to the New York State Bar; United States Supreme Court; United States Court of Appeals, Second Circuit; United States District Court, Southern District; United States District Court, Eastern District; and United States District Court, Northern District. He currently serves on the Executive Board of Directors for the Justice Brandeis Law Society of the 9th Judicial District and Land to Learn. Mr. Bauer is also an active member of the American Bar Association, New York Bar Association and Orange County Bar Association.

Stephen E. Diamond is a solo practitioner at Stephen E. Diamond LLC. In addition, he is general counsel at INF Associates, LLC, a turnkey energy solution firm. Mr. Diamond practices primarily in the areas of estate planning and administration, business formation and transactions, real estate, and elder law issues. He is past chairman of and current legal counsel to the Dutchess County Regional Chamber of Commerce, and Habitat for Humanity of Dutchess County. Mr. Diamond is a frequent lecturer on the topics of estate and retirement planning, and elder law issues. He is admitted to practice law in New York, Florida and Massachusetts. Mr. Diamond earned his J.D. degree from Pepperdine University and his LL.M. degree in taxation from the University of Florida. In 2023, he was awarded the Root Stimson Award, and is  awarded in recognition for outstanding commitment to community service and improvement of the justice system.

David D. Fenster is a partner in the law firm of Fenster, Lewis & Good, LLC. His practice is focused on the areas of estate planning, business planning, taxation, estate and trust administration, and elder law. Mr. Fenster lectured on estate planning and estate administration topics to both professional groups and the general public. He has also taught estate planning at Medaille College and Canisius College. Mr. Fenster earned his B.S. and J.D. degrees, cum laude, from the State University of New York at Buffalo.

Elizabeth A. Ingold is a partner in the law firm of Rupp Pfalzgraf LLC, where she counsels families and individuals in all stages of life to achieve lifetime and testamentary goals. Ms. Ingold excels in tailoring sophisticated estate plans to conserve and transfer wealth, and to preserve businesses, real estate and other assets. She is a member of the National Academy of Elder Law Attorneys, New York State Bar Association, Erie County Bar Association and the Financial Counselors of Western New York. Ms. Ingold earned her B.A. degree from State University of New York at Geneseo and her J.D. degree, with a concentration in estate planning, from Albany Law School.

Kristen M. Walsh is a senior attorney at Garfunkel Wild, P.C., where she concentrates her practice on complex estate planning, asset protection and wealth preservation, trust and estate administration, and elder law. She drafts estate planning documents from the simple to the complex, including wills, revocable and irrevocable trusts, family agreements, and advance directives. Ms. Walsh's estate plans address estate and gift tax planning, elder care and special needs concerns, business succession planning, and lifetime and charitable giving. She received her B.A. degree from St. Joseph's University; her M.S.W. degree from Adelphi University, School of Social Work; and her J.D. degree, magna cum laude, from Touro Law Center. Ms. Walsh is a member of the New York State Bar Association, Nassau County Bar Association, and Nassau County Women's Bar Association. She is admitted to practice law in New York, New Jersey, and New York Supreme Court - Appellate Division, and New Jersey state courts.

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Phone: (800) 930-6182

Event Materials Support

Email: eventmaterials@nbi-sems.com

Phone: (800) 777-8707


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