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Friday, December 13, 2024 Live Webcast

How to Settle a Client's Estate (E2412281)

9:00 AM - 4:30 PM EST

Registration: 8:30 AM EST

webcast

Vendor Platform

8 CPE Credits in TX

OVERVIEW

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 advisor to them. After taking this course, practitioners will feel more confident to serve in a fiduciary capacity. Updated for developments relative to estate taxation.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

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

BENEFITS

  • 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

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

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • Qualifies for CFP credit
  • Qualifies for IRS credit

INSTRUCTOR

Inibehe Adesanya

Inibehe U Adesanya, ACA, ACIT, CPA, CGMA, MST, Ph.D.

Dr. Inibehe (Ini) Adesanya is the president of INI ADESANYA CPA, PLLC, and also owns Global Tax Lady LLC. Dr. Adesanya has worked in various countries with conglomerates and multinationals, including banks and the entertainment industry. She also worked in public accounting before starting her practice. With 20 years of combined experience in accounting, business, and taxation, Dr. Adesanya’s expertise covers complex domestic and international tax issues for both individuals and businesses. Dr. Adesanya works with clients as a subject matter expert (SME) on tax cases and tax issues where she justifies her clients’ tax position based on tax law, treasury regulations, revenue procedures, and other related regulatory publications. Dr. Adesanya has developed and taught courses on business taxation, for which she has received awards. She has also written and presented papers at various forums, organizations, and radio stations focusing on business, accounting, and U.S. and international tax issues. Dr. Adesanya is a Chartered Accountant (ACA), a Fellow Chartered Tax Practitioner (FCIT), and a Certified Public Accountant (CPA) licensed in the states of Colorado and Texas. She is also a Certified Global Management Accountant (CGMA). She holds a B.S. in human anatomy and a Professional Degree in accounting from Nigeria, as well as a Master of Science in taxation from Golden Gate University, San Francisco. She received her Ph.D. in business administration with a concentration in accounting and finance at Trident at American Intercontinental University, Chandler, AZ; her dissertation focus was on taxation.

PRICING

$299.00 - Member

$449.00 - Nonmember

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Note: Online pre-registration will close on December 13 at 8:30 AM.

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