Final Accounting: Estate administration essentials

Jenny McInerney
Jenny McInerney | McInerney Law Firm

Jenny grew up in Shelby County, Alabama. She graduated from the University of Alabama at Birmingham, with honors in 2001 (B.A., magna cum laude) and 2003 (M.A., summa cum laude), Indiana University School of Law in 2008 (J.D., cum laude), and Washington University in St. Louis in 2022 (LL.M. in Taxation, summa cum laude). She is licensed to practice law in Alabama and Mississippi. She is a registered Mediator in the state of Alabama.

On-Demand: October 29, 2024
This class is included in the myLawCLE All-Access Pass

Subscribe to myLawCLEs All-Access Pass...
Get this course, plus over 1,000+ of live webinars.
Learn More
MCLE Credit Information:

Select Your State Below to View CLE Credit Information

2 hour CLE
Tuition: $195.00
Training 5 or more people?

Sign-up for a law firm subscription plan and each attorney in the firm receives free access to all CLE Programs

Program Summary

This program is designed to guide estate planning professionals through the process of final accounting. Participants will learn the legal obligations of executors and trustees, including how to inventory assets, document income and expenses, and handle distributions to beneficiaries. The course will also cover best practices for preparing financial statements, avoiding disputes, and presenting final accountings to beneficiaries and probate courts. Through case studies and practical tips, attendees will gain the tools needed to manage the complexities of estate administration with accuracy and transparency.

Key topics to be discussed:

  • Role of the executor, trustee, or personal representative in managing estate assets
  • When and why a final accounting is required
  • Federal tax considerations
  • The role of probate courts in reviewing and approving final accountings
  • Fiduciary duties of the executor and potential liabilities for non-compliance
  • Required components of a final accounting
  • Preparing final accounting

Closed-captioning available

Speakers

Jenny McInerney_FedBarJenny McInerney | McInerney Law Firm

Jenny grew up in Shelby County, Alabama. She graduated from the University of Alabama at Birmingham, with honors in 2001 (B.A., magna cum laude) and 2003 (M.A., summa cum laude), Indiana University School of Law in 2008 (J.D., cum laude), and Washington University in St. Louis in 2022 (LL.M. in Taxation, summa cum laude). She is licensed to practice law in Alabama and Mississippi. She is a registered Mediator in the state of Alabama.

Jenny’s practice is devoted to helping families plan. Jenny helps her clients develop a thoughtful estate plan to protect their loved ones in the event of death or disability. She uses her knowledge and experience to help families avoid problems and disputes during life transitions.

Jenny advises her clients on Wills, Trusts, Special Needs Planning, Medicaid planning, Elder law, Supported Decision Making Agreements, Guardianships/ Conservatorships (and alternatives), Prenuptial and Postnuptial Agreements, Durable Powers of Attorney, Advanced Health Care Directives, Estate Administration, Trust Administration, Estate and Trust Litigation, and minor children Name Changes.

Jenny has a passion for special needs planning – which is estate planning for the benefit of someone who is disabled or who may be/or will be receiving needs-based government assistance. Special needs planning can greatly enhance such an individual’s life. It is also necessary to be even more deliberate and thoughtful in a special needs plan, as we are providing for someone who will likely never be able to care for themselves. Jenny is the mother to two children with special needs, which provides her with a unique perspective in advising her clients – she understands the reality of being a parent to an adult with special needs and to a young child with special needs.

Jenny’s practice is devoted to helping small businesses. Many of the families Jenny serve own and operate small businesses here in our community. Jenny regularly handles business entity formation, general business and corporate law matters, and litigation. She also has extensive experience in non-profit formation, compliance, and management.

She is an active member of the community. She is the current President of the Board of Directors of the Greater Alabama 310 Board, Inc, the Co-President of the Board of Directors of Special Siblings, a member of the Board of Directors of Down Syndrome Alabama, a member of the Board of Directors of The Arc of Shelby County, a member of the Board of Directors of Shelby Humane Society, and a member of the Board of Directors of 25:35. Jenny is the den leader for Troop 320 – Tigers.

Jenny is a graduate of Leadership Birmingham (2023), Leadership Shelby County (2011), Partners in Policymaking of Alabama (2021), and the Birmingham Bar Association’s Future Leaders Forum (2011). Jenny is the author of the blog for Alabama’s ABLE program. Jenny has three children, three rescue dogs and is married to Kerry.

Agenda

I. Role of the executor, trustee, or personal representative in managing estate assets | 2:00pm – 2:20pm

II. When and why a final accounting is required | 2:20pm – 2:40pm

III. Federal tax considerations | 2:40pm – 3:00pm

Break | 3:00pm – 3:10pm

IV. The role of probate courts in reviewing and approving final accountings | 3:10pm – 3:25pm

V. Fiduciary duties of the executor and potential liabilities for non-compliance | 3:25pm – 3:40pm

VI. Required components of a final accounting | 3:40pm – 3:55pm

VII. Preparing final accounting | 3:55pm – 4:10pm

#1 CLE Access Program

  • Over 1,000 Live CLE Webinars each year
  • All CLE webinars broadcasted in last 12 months
  • Programs covering over 35 practice areas
  • Hot topics & changes in the law
  • All formats: Live, Replay, and On-demand
  • Accreditation in every state

Access every CLE webinar,
every format, all year long!

myLawCLE All-Access Pass

only $395 yearly


Register Now

#1 CLE Access Program

  • Over 1,000 Live CLE Webinars each year
  • All CLE webinars broadcasted in last 12 months
  • Programs covering over 35 practice areas
  • Hot topics & changes in the law
  • All formats: Live, Replay, and On-demand
  • Accreditation in every state

Access every CLE webinar,
every format, all year long!

myLawCLE All-Access Pass

only $395 yearly


Preview
More CLE Webinars
Upcoming CLE Webinars
Family Law 101: From Client Interview to Courtroom
Family Law 101: From Client Interview to Courtroom Thu, February 20, 2025
Live Webcast
Multitasking Mastery: Essential Tips for New Lawyers
Multitasking Mastery: Essential Tips for New Lawyers Thu, February 20, 2025
Live Webcast
Social Security Law: Adapting to the Latest Changes
Social Security Law: Adapting to the Latest Changes Tue, February 25, 2025
Live Webcast
Abating Tax Penalties (2025 Edition)
Abating Tax Penalties (2025 Edition) Wed, February 26, 2025
Live Webcast
Insurance and Bad Faith Litigation in Fire Loss Cases
Insurance and Bad Faith Litigation in Fire Loss Cases Wed, February 26, 2025
Live Webcast
Deep Dive into Using RFPs, RFIs, and RFQs Effectively
Deep Dive into Using RFPs, RFIs, and RFQs Effectively Wed, February 26, 2025
Live Webcast
IRS Offers-in-Compromise (2025 Edition)
IRS Offers-in-Compromise (2025 Edition) Wed, February 26, 2025
Live Webcast
IRS Enforcement: Tax Liens & Tax Levies (2025 Edition)
IRS Enforcement: Tax Liens & Tax Levies (2025 Edition) Thu, February 27, 2025
Live Webcast
Playing Defense at 30(b)(6) Depositions (2024 Edition)
Playing Defense at 30(b)(6) Depositions (2024 Edition) Thu, February 27, 2025
On-Demand
Live Replay