Insolvent Estates: Trust and Estate Spring Update - Webinar ONLY
This program will cover issues that arise when the decedent's debts are significant in relation to, or even exceed, the value of the estate. Some estates involve minimal assets and no probate is required. In other cases, assets may be substantial, but the debts are also substantial. In either case, these estates present numerous challenges, and our expert faculty will help you understand issues to watch for and potential solutions.
Home studies will be available approximately 2-3 weeks following the live program.
For your own safety, the safety of others, and in an effort to provide everyone with the most rewarding in-person meeting and event experiences possible, we request that you attend a CBA, DBA, or CLE meeting or event only if you have been fully vaccinated. Mask wearing is up to personal preference and comfort level. Masks may be required in some clinic settings. Please be cognizant and understanding of others’ preferences and courteous to all attendees.
Depending on CDC and/or state or local health guidelines, a rise in COVID-19 cases, or other circumstances that may threaten the well-being of our attendees, CBA-CLE reserves the right to convert to a fully virtual event.
If disability accommodations or special assistance are needed, please contact us at [email protected]. Requests must be made at least two weeks prior to the scheduled program.
The program will be submitted for CLE accreditation in Colorado. If you need to seek accreditation in another state, please review the process and requirements for that individual state. CBA-CLE staff can provide a Uniform Certificate of Attendance, and it is the attendee’s responsibility to complete the accreditation outside of Colorado.
8:30 - 9:00 am
Registration
9:00 - 9:05 am
Welcome and Introduction
Extended by Jennifer M. Spitz, Esq., Lyons Gaddis, PC, and Melissa R. Schwartz, Esq., Schwartz, McMinimee & Andrew, LLC, Program Co-Chairs and Moderators
9:05 - 9:45 am
Overview
- Determining whether an estate should be opened
- Determination of assets and potential creditors
- Notice to creditors by publication and by mail
- Priority for payment of claims
- Family allowance and exempt property allowance
- Preservation of assets
- Abandoning property
- Rights of creditors when no probate is opened
Presented by Melissa R. Schwartz, Esq.
9:50 - 10:40 am
Presentation, Allowances and Disallowances of Claims
- What constitutes a claim?
- Timeliness of presentation
- Determination of whether to allow or disallow a claim
- Mechanics of allowing or disallowing a claim
- Secured creditors
Presented by Melissa R. Schwartz, Esq.
10:40 -10:50 am
Stretch Break
10:50 - 11:40 am
Foreclosure and Other Real Estate Matters
- Foreclosure overview
- Options for disposition of real estate
- Claims by lender for deficiency
Presented by Britney D. Beall-Eder, Esq., and Elizabeth S. Marcus, Esq., Frascona, Joiner, Goodman and Greenstein, P.C.
11:45 am – 12:30 pm
Medicaid
- Claims by the Department of Health Care Policy and Finance
- Dealing with a Medicaid lien against the residence
Presented by Lance E. McKinley, Esq., Lance E.McKinley, P.C.
12:30 – 1:30 pm
Lunch Break (On Your Own)
1:30 – 2:20 pm
Income Tax Matters
- What is the priority for payment of federal and state taxes?
- How to determine whether the Decedent has a federal tax liability
- What is the statute of limitations for the IRS and states to bring a claim for taxes?
- Who is responsible for filing tax returns if no probate is opened?
- Filing back tax returns that were not filed
- Discharge of indebtedness
Presented by Georgine M. Kryda, Ph.D., Esq., Georgine M. Kryda, Ph.D., Esq., LLC
2:25 – 3:15 pm
Recovery from Non-Probate Assets
- Overview regarding Colorado's statute allowing recovery from non-probate assets to pay creditor claims
- Coordination of the one year non-claims period with the one year limitation on recovery from non-probate assets
- Logistics of recovery
Presented by Marcie R. McMinimee, Esq, Schwartz, McMinimee & Andrew, LLC
3:15 – 3:30 pm
Stretch Break
3:30 – 4:15 pm
Spouse's Liability for a Decedent's Debts
- Is a spouse liable for the debts of the decedent?
- Family necessities doctrine and statute
- Litigation and tax liabilities
- Indirect responsibility as a fiduciary
Presented by Susan R. Harris, Esq., Susan R. Harris & Associates, LLC
4:15 – 4:45 pm
Closing the Estate
- Formal versus informal closing
- Administrative closings
- Payment of less than full amount of each claim
- Distribution settlement agreements
- Obtaining receipts and releases
Presented by Charles F. Reams, Esq., and Zachary T. Reams, Esq., Reams & Reams
4:45 pm
Adjourn
Registration Fees
| Non Member | $519.00 |
| CBA Member | $389.00 |
| CBA Trust & Estate Law Section Member | $319.00 |
| CBA Elder Law Section Member | $319.00 |
| New Lawyer Edge Partner | $194.50 |
| Paralegal/Support Staff | $194.50 |
| Public Service/Government | $194.50 |
| Active Military | $194.50 |
| Student Currently Enrolled in Law School | $0.00 |
| CLEACCESSPASS | $0.00 |
- General Credits: 7.00
- Ethics Credits:
- EDI Credits:
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