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Date / Time / Location

Friday, November 15, 2019
8:30 AM - 4:30 PM
Registration: 8:00 AM

NJCPA Learning Center105 Eisenhower Parkway, Suite 300
Roseland, NJ 07068

CPE Credits

  • 8.00 CPE Credits in TX

Package Pricing

In-Person Registration
  • $279.00 - Member
  • $379.00 - Non Member
Webcast: Attend this seminar virtually
  • $279.00 - Member
  • $379.00 - Non Member

Course Developer

Qualifies For

  • CFP
Federal estate and gift taxes currently affect few clients, but there are many other issues involved in settling an estate or administering a trust. Clients who are beneficiaries of a trust or estate often turn to their financial advisors to understand the administrative process and its effect on their interests. This course enables the accountant to cut through the jargon to understand the legal concepts, communicate a real-world explanation to clients, and serve, in some instances, as an executor or trustee or as an advisor to them.

Designed For

CPAs who wish to assist in settlement of an estate, regardless of size.


  • Understand how the claims of creditors 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 the trust or will and other documents encountered, and their uses
  • Understand the stages of an estate administration including collections, costs, payment of debts and taxes, and the distribution to beneficiaries
  • Be aware of the duties a fiduciary and members of the estate planning team owe to creditors, beneficiaries,and courts


  • Issues involved when settling an estate
  • 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 required
  • Administration of revocable trusts
  • Estate basis reporting

Course Level




Advance Preparation


Additional Notes

  • This seminar qualifies for CFP credit.

Course materials are distributed electronically and we’ve passed the savings along to you - registrants save $20 on all 8-hour seminar pricing. To access the materials visit My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.

Help Feed Those in Need
  • The NJCPA Emerging Leaders Council is hosting a Food Drive to benefit the Community FoodBank of New Jersey. Please bring your nonperishable items and canned goods to this event. Peanut butter and tuna fish are always needed.
Pre-Registration Closed

Online pre-registration for this event is now closed.

Philip Herr

Philip M. Herr, CPA, Esq., PFS

Philip M. Herr is a Tax Professional with over 30 years of professional experience, having worked in public accounting firms as well as insurance companies. He is a member of the New York and U.S. Tax Court Bars, is a New York CPA, member of the AICPA and holder of their PFS designation. Philip specializes in several areas including: estate, gift, and trust planning; fiduciary taxation; estate and gift taxation; estate and trust administration, including the probate process and fiduciary accounting; all aspects of financial planning; ERISA, employer-sponsored retirement plans, IRAs, Roth IRAs, SEPs and SIMPLEs; distribution planning from qualified and non-qualified arrangements; non-qualified deferred compensation for tax-exempt organizations and for-profit companies; executive benefit arrangements and executive compensation using both equity and life insurance-based techniques; business succession planning and owner exit strategies; charitable giving and various tax-exempt entities; individual income tax including foreign reporting rules; and taxation in general. Mr. Herr has taught college at Ohio Northern University, Fairleigh Dickinson University and New Jersey City University at both the undergraduate and graduate levels, as well as in the CEBS and CFP programs sponsored by these institutions. He has conducted hundreds of webinars, webcasts, teleconferences and in-person presentations to colleagues, clients and other professionals needing CPE, CLE, and Insurance CE credits. Mr. Herr is a Magna Cum Laude graduate of the Long Island University, C.W. Post Center, Professional School of Accountancy, with a B.S. in Accounting; and a B.A. in Political Science from Long Island University, C.W. Post Center. He also holds a J.D. from the Ohio Northern University, Pettit College of Law.

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Pre-Registration Closed

Online pre-registration for this event is now closed.