PLG-235 Admin. Wills, Trusts & Estates

This course will introduce the student to laws relating to estate planning, the administration of estates (both testate and intestate), and the establishment and administration of trusts. Emphasis will be placed on the practicalities of estate law including interview techniques, preparation of wills, trusts and administrative documents, and filing requirements and procedures. Offered on a regular rotating basis.

Credits

3

Prerequisite

PLG-100 and PLG-125

Department

• Business

Semesters Course Will Be Offered

• Fall

Course Rotation Schedule

• Fall: Online

For more detailed course information view the Course Outline

PLG 235: Admin. Wills, Trusts & Estates

Department

Business

Course Description

This course will introduce the student to laws relating to estate planning, the administration of estates (both testate and intestate), and the establishment and administration of trusts. Emphasis will be placed on the practicalities of estate law including interview techniques, preparation of wills, trusts and administrative documents, and filing requirements and procedures. Offered on a regular rotating basis.

Credit Hours

3

Contact Hours

Lecture	3
Lab	0
Other	0

Grading Scheme

Letter

Semester(s) Course Will Be Offered

Fall

Prerequisites

PLG-100 and PLG-125

Course Learning Outcomes

1. Describe the steps involved in will probate.
2. Explain the laws applicable to intestate succession and wills.
3. Explain the requirements for end of life care.
4. Prepare documents commonly used in estate planning and administration.

Topic Outline

1. 1. The need for wills and trusts
2. 2. The relation between property and wills, trusts, and estates
3. 3. Death intestate
4.     a. Terminology
5.     b. Intestate succession laws
6.     c. Inheritance rights of family members
7. 4. Wills
8.     a. Requirements of a valid will
9.     b. Provisions in a will: the client interview
10.     c. Ademption
11.     d. Lapse
12.     e. Abatement
13.     f. Family protections
14.     g. Revocation of a will
15. 5. Will contests
16. 6. Nontestamentary documents
17.     a. Power of attorney
18.     b. Health care proxy
19.     c. Other end-of-life issues
20. 7. Trusts
21.     a. General classification of trusts
22.     b. Private and public express trusts
23.     c. Active and passive trusts
24.     d. Inter vivos and testamentary trusts
25.     e. Resulting implied trusts
26.     f. Constructive implied trusts
27.     g. Miscellaneous trusts
28. 8. Estate planning
29.     a. Formulating the estate plan
30.     b. Tax-saving devices
31. 9. Probate and estate administration
32.     a. Pre-probate issues
33.     b. Petition for probate
34.     c. Distribution of the estate and payment of claims
35.     d. Final accounting and closing of the estate
36.     e. Informal probate
37. 10. Tax considerations
38.     a. New York State tax returns
39.     b. Federal tax returns