Best Practices in Filing and Preparing Inventory for Paralegals

Avoid common mistakes and learn best practices with the inventory process.

Many people who have been named as an executor/personal representative under a will do not know whether they actually need to probate the will or not. They also do not understand how the probate process works and how the title of estate assets are passed to the beneficiaries. This topic helps the paralegal to explain to the persons responsible for probating a will how first to examine all the assets of an estate and then how to determine whether each asset will need to go through the probate process. The material also explains the method required for determining whether an asset of the estate will be included in the Inventory and how to describe and value each type of asset. Failing to understand the Inventory process is a common mistake among paralegals and attorneys alike. It has often led to incorrect filings which might mislead creditors and/or beneficiaries of the estate. This information is critical for law firms engaged in probate matters to ensure that information is correctly included in inventories to protect executors and the law firm assisting them.

Faculty

Alan L. Stroud, J.D., CPA

Beck & Associates, PLLC