Estate Administration: Final Accounting Do’s and Don’ts

$169.00

This course of Estate Administration: Final Accounting Do’s and Don’ts will provide the basic knowledge and the fundamental understanding of estate administration and accounting. The followers will acquire the insight of the importance of local compliance requirements, understanding what to do with personal property assets, the distinction between an operating account and a trust account, and understanding the Probate process. Other topics will include treating real estate in the estate, tax returns for the estate, handling administration of non-probate assets and managing claims and creditors.

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Event Details

Webinar Date

Webinar Time

Course Type

Original Date Of Course

Course Instructor

Tab Burkhalter, JD, CPA, MBA, ESQ

General Credits

2

Course Description

This course of Estate Administration: Final Accounting Do’s and Don’ts will provide the basic knowledge and the fundamental understanding of estate administration and accounting. The followers will acquire the insight of the importance of local compliance requirements, understanding what to do with personal property assets, the distinction between an operating account and a trust account, and understanding the Probate process. Other topics will include treating real estate in the estate, tax returns for the estate, handling administration of non-probate assets and managing claims and creditors.

Principles:

  • Local Compliance Requirements
  • Assets
  • Trustee Powers and Duties
  • Probate
  • Real Estate in the Estate
  • Tax Return of the Estate
  • Claims and Creditors

Syllabus:

  1. Local Compliance Requirements will cover Small Estate Administration in Tennessee, including The Small Estates Act, advantages and disadvantages of procedures as outlined in The Small Estates Act, and qualifications needed to be a small estate.
  2. Assets will cover how to find out what the decedent owned, how to inventory the assets and determine the value of them, and which assets will require an appraisal. This section will also cover how to handle assets that are outside of the administration of the estate.
  3. Trustee Powers and Duties will detail what the duties of the trustee are and the laws that correlate with those duties.
  4. Probate will cover the two types of probate and their differences, the probate procedures, understanding when probate may or may not be necessary, and how to close the estate administration.
  5. Real Estate in the Estate will cover how to distribute the real estate and how to handle a debt associated with the estate.
  6. Tax Return of the Estate will cover common federal forms needed when preparing the return, federal deadlines for the estate, requirements for filing the return, and state forms and deadlines for the estate.
  7. Claims and Creditors will provide information on the notice to creditors, the timeline for filing a claim, filing the claim, payment, and what insolvency of the estate means and how to properly handle it.

 

Instructors:

Tab Burkhalter, JD, CPA, MBA, ESQ

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