Wills, Trusts & Estates Specialist

Overview

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The intergenerational transfer of wealth is controlled by both statutory and common law principles applicable to a particular jurisdiction. Competing views of the individual’s freedom of disposition and state power both to channel and to tax property have led to an interesting and complex array of legal devices and institutions that govern the proper way to gift certain types of property, trusts and other instruments of ownership. From statutory intestacy and elective share provisions, wills, and trusts to planning for incapacity, future interests in property, powers of appointment, life insurance, and introductory aspects of trust and estate administration, this course examines the everyday use of laws that govern how these instruments can be passed on from generation to generation as intended by the original or subsequent owners.

This program explores the ins and outs of the legal and ethical requirements necessary to develop and administer an estate plan. Learners will be introduced to highly-specialized legal vocabulary pertaining to these particular legal fields, as well as relevant substantive and procedural law that govern wills, trusts and estates. For individuals looking toward law school or who are interested in the paralegal profession, this program offers an incredibly useful and realistic look into the actual work that lawyers and legal professionals do every day. As part of this program, learners will produce an estate planning and estate administration portfolio of relevant documents that thoroughly covers the wills, trusts, and estates legal specialty.

Program Objectives

After completing this program, learners will be able to:

• Examine estate planning considerations
• Analyze the rules of intestate succession
• Describe the requirements for a valid will
• Prepare a living will and powers of attorney
• Prepare a basic will
• Examine the requirements of trusts and supporting documents
• Describe the duties of a personal representative and procedure for appointment
• Create the initial estate administration documents
• Prepare an inventory document
• Examine creditor claims
• Describe tax law as it relates to estate planning
• Prepare final accounting and estate closing documents
• Describe estate administration concerns
• Use Microsoft Office®