How to Settle a Client’s Estate


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.


* 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, and their uses * Understand the stages of an estate administration, including costs, collections, payment of debts/taxes, and distribution to beneficiaries * Be aware of the duties a fiduciary and members of the estate-planning team owe to creditors, beneficiaries, and the courts


* Issues involved when settling an estate: marshaling of assets, payment of creditors, and 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, and 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

Who Should Attend

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

Required Knowledge


Advanced Prep


Event Speaker(s)

Dennis Riley ( ),

Additional Event Information

Check-in for all in-person events begins one hour prior to event start time. Also, be sure to allow enough time for traffic, parking, and check-in. If you should arrive late or depart early, you must adjust your CPE credit accordingly.

Also Available As

2022-12-05 08:30:002022-12-05 16:15:00 ET)
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Event Vendor:Surgent McCoy CPE, LLC
Field of Study:Taxes
Level: Basic
Other:CFP Approved

Event Type:Seminar
NASBA Instructional Method:Group Live
Event Code:S0000822

Registration Fees

Early Bird Rate expires November 22, 2022

RegistrationEarly BirdRegular
NCACPA Member$260.00$310.00
CPE Sponsors LogoThe North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.

For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.