Learn how to properly close an estate, fulfill fiduciary duties, handle taxes, and avoid liability in Trusts & Estates practice.
This session shall educate professionals who practice in, or whose work touches on the Trusts and Estates fields on how to properly close and estate--from marshaling assets and preparing the final account through closing the estate. The course will discuss what a fiduciary's duties are, how to account for and distribute assets. This course will also touch on estate income taxation principles and Federal estate and state taxation. Finally, we will discuss which forms to file and when to file them in addition to closing the estate. The course will focus on helping the fiduciary to avoid liability and personal stress.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
The Fiduciary
- Decedent's Testamentary Plan: Intestate V. Testate
- Duties of the Fiduciary
- Fiduciary Liability
The Accounting
- Informal Accounting V. Judicial Accounting
- Accounting Methods
- Marshaling Assets and Non-Testamentary Assets
- Receipts and Releases
- Claims and Litigation
- Distributions and Dealing With Minors.
- Winding Down the Estate
- Holding Back Proceeds
A Primer on Estate Income Taxation
- IRC Subchapter J
- Distributable Net Income
- Distribution Deductions and K-1's
- Gifts and Bequests
- Income With Respect to a Decedent
- Examples
A Primer on Federal and State Estate and Gift Taxation
- Who Gets Taxed? the Basic Exclusion Amount
- The Annual Gift Tax Exclusion
- Generation Skipping Transfer Tax
- State Estate Taxation
Federal and State Tax Returns
- Decedent's Final Tax Return
- Estate Income Tax Returns and Timing
- Estate Tax Returns
- Timing, Procedures and Forms
- Closing Letters From Governing Tax Authorities
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Credit
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on April 29, 2025.
Call 1-866-352-9540 for further credit information.
- AK CLE 1.0
- Alaska attorneys may receive 1.0 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
- AL CLE 1.1
- This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.1 hours credit.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- IL CLE 1.0
- This course was approved for a total of 1.0 hours of MCLE Credit by the Illinois MCLE Board.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- ND CLE 1.0
- North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.0 hours of CLE credit.
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 68 Minutes.
- NJ CLE 1.3
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.3 hours of total CLE credit.
- NM CLE 1.0
- This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.0 hours of credit.
- NY CLE 1.0 including Areas of Professional Practice 1
- This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.0 credit hours in the area(s) of Areas of Professional Practice for 1.00 hour. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Education- Noggin Guru, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- WA CLE 1.0
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of A/V credit under the Law & Legal Procedure category.
- WI CLE 1.0
- This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
- WV MCLE 1.3
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
- AK CLE 1.0
- Arizona CLE 1.0
- CA MCLE 1.0
- CT CLE 1.0
- HI CLE 1.0
- MO CLE 1.3
- NM CLE 1.0
- VT CLE 1.0
- WV MCLE 1.3
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Credit
More Program Information
Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Antar P. Jones, Esq. LL.M.
The Law Office of Antar P. Jones, PLLC
- Founder of The Law Office of Antar P. Jones, PLLC, located in Brooklyn, New York
- Practice includes advising fiduciaries and successful individuals concerning the administration of estates, trusts, and the income and estate taxation matters affecting them
- Appointed over 70 times as guardian ad litem with respect to decedents’ estates in the State of New York
- Received an acknowledgment for his work on the textbook, Corporate Finance and Governance, Jeffrey J. Haas, Carolina Academic Press (3d ed. 2006)
- Frequently presents at speaking engagements on taxation and trusts, and estates matters
- Co-chair of the Surrogate’s Court Committee at the Brooklyn Bar Association
- Adjunct Professor of Law at New York Law School and teaches a course on the income taxation of estates and trusts
- LL.M. Degree in taxation, graduate program in taxation, New York Law School
- Can be contacted at [email protected] or 917-920-6501
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Credit
More Program Information
Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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