The 2018 Annual Estate Planning & Probate Institute The Nuts and Bolts of Probate

456 Pages·2017·8.11 MB·English

by  Staci L. Williams

The 2018 Annual Estate Planning
& Probate Institute
The Nuts and Bolts of Probate

March 23, 2018
UNO Thompson Center, Omaha, NE
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The NSBA Real Estate, Probate and Trust Law Section presents
2018 Annual Estate Planning & Probate Institute
The Nuts and Bolts of Probate
Friday, March 23, 2018 • 8:30 am - 4:45 pm
UNO Thompson Center • 6705 Dodge St, Omaha, NE 68182
**Also available for viewing via live webcast.**
*Nebraska MCLE #153192. Iowa MCLE #286569. 6.5 CLE hours, including 1 hour ethics. (Regular/live)
*Nebraska MCLE #153191. Iowa MCLE #286570. 6.5 CLE hours, including 1 hour ethics. (Distance learning)
*Only 5 distance learning CLE hours may be claimed per year for Nebraska.*
*This program has been approved for 6.0 hours of CPE, including 1 hour of ethics, by the NE Board of Public Accountancy.*
8:30 am Tax Apportionment 1:30 pm Formal Testacy and Appointment
Jonathan L. Grob, McGrath North Mullin & Kratz, PC LLO, Proceedings
Omaha Robert D. Stowell and Jessica L. Piskorski
9:00 am Life Insurance and Estate Administration 2:00 pm Foreign Representatives and Ancillary
Mark Weber and Jeffrey D. Sharp, SilverStone Group, Inc., Administration
Omaha Kara E. Brostrom, Baylor Evnen Curtiss Grimit & Witt
LLP, Lincoln
9:45 am Nebraska Inheritance Tax
Jesse D. Sitz, Baird Holm LLP, Omaha 2:30 pm Break
10:30 am Break 2:45 pm Personal Representatives Appointment,
Control, and Termination of Authority;
10:45 am Accountings, Federal and State Income Tax Duties and Powers
Issues (Form 1041s) Matthew D. Baack, Skalka & Baack Law Firm, Hastings
Daniel I. Dittman, Erickson & Sederstrom PC, LLO, Omaha
3:30 pm Engagement Agreements
11:15 am Creditors’ Claims Jeffery T. Peetz, Endacott Peetz & Timmer, PC LLO, Lincoln
Rick A. Damkroger and Benjamin J. Wischnowski, O’Neill,
Heinrich, Damkroger, Bergmeyer & Shultz, P.C., L.L.O., 4:15 pm Intestacy: What are Your Options After
Lincoln the Fact: Post-Death Family Agreements;
Alternative Valuations for Taxing Purposes;
12:00 pm Lunch (included with your registration) and Disclaimer
Ramzi Hynek, Rembolt Ludtke, LLP, Lincoln
1:00 pm Informal Probate and Appointment
Proceedings 4:45 pm Adjourn
(Open Strategies, Special Administrators)
Robert D. Stowell and Jessica L. Piskorski, Stowell, Geweke &
Piskorski, P.C., L.L.O., Ord
THANK YOU TO OUR SPONSORS
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Faculty Bios
Jonathan Grob, McGrath North Mullin & Kratz, PC LLO: Jonathan Grob is a shareholder at McGrath North and
the Co-Chair of the Tax and Estate Planning Practice Group. Mr. Grob earned his J.D. from the University of
Nebraska and his LL.M. in Taxation from New York University. He is an adjunct professor at Creighton University
School of Law and has earned his Chartered Advisor in Philanthropy designation from the American College. His
practice focuses on federal and state tax planning, including the tax aspects of acquisitions, divestitures and joint
ventures; business entity formation and reorganization; succession and estate planning; and probate and trust
administration.
Mark Weber, Principal, SilverStone Group: Mark Weber has over 30 years in the industry as a financial
consultant to business owners and executives on personal financial and estate planning. He is widely recognized
for his work in both business transition planning and philanthropic estate planning. Mr. Weber obtained his Juris
Doctor from Creighton University School of Law.
Jeffrey Sharp, Principal, SilverStone Group: Jeffrey Sharp has over 30 years of experience providing families
with comprehensive wealth management and retirement planning solutions. Mr. Sharp received his Juris Doctor
from Creighton University School of Law.
Jesse Sitz, Partner, Baird Holm LLP: Jesse D. Sitz represents clients with respect to corporate and partnership tax
matters, estate planning and probate matters, federal and state tax disputes, and tax-exempt matters. He received
his Juris Doctor from the University of Minnesota Law School. Mr. Sitz earned the designation of Chartered Advisor
in Philanthropy (CAP®) through the American College.
Daniel Dittman, Shareholder, Erickson & Sederstrom, PC LLO: Daniel Dittman is a member of Erickson &
Sederstrom’s Estate, Probate and Trust Law Division. His practice consists of estate and gift planning, trust
administration, probate of client estates, and federal and state taxation. Mr. Dittman received his Juris Doctor from
Creighton University School of Law.
Rick Damkroger, Shareholder, O’Neill, Heinrich, Damkroger, Bergmeyer & Shultz, PC LLO: Rick Damkroger’s
practice areas are business and estate planning, estate and trust administration, and real estate transactions. He
received his Juris Doctor from University of Denver.
Benjamin Wischnowski, O’Neill, Heinrich, Damkroger, Bergmeyer & Shultz, PC LLO: Ben Wischnowski’s
practice areas are business and estate planning, business and commercial transactions, corporate law, estate and
trust administration, and real estate. He received his Juris Doctor from the University of Iowa.
Robert Stowell, Stowell, Geweke & Piskorski, P.C., L.L.O.: Robert Stowell‘s practice areas include estate
planning, agricultural law, probate, trust administration, and real estate. He received his Juris Doctor from the
University of Nebraska College of Law.
Jessica Piskorski, Stowell, Geweke & Piskorski, P.C., L.L.O.: Jessica Piskorski spent seven years practicing
collection law prior to joining , where she now primarily practices estate planning, probate, and trust
administration. She received her Juris Doctor from the University of Nebraska College of Law.
the firm
Kara Brostrom, Baylor Evnen Curtiss Grimit & Witt LLP: Kara Brostrom is a member of the Trusts and Estates
practice group. Her practice includes estate planning and estate administration. Ms. Brostrom received her Juris
Doctor from the University of Nebraska College of Law.
Matthew Baack, Skalka & Baack Law Firm: Matt Baack’s practice focuses primarily on real estate

includin like-kind exchanges business and corporate law estate planning and estate and
probate administration. He received his Juris Doctor from the University ebraska College of Law.
transactions, g 1031 ; ; ;
of N
Faculty Bios

Jeffrey Peetz, Endacott Peetz & Timmer, PC LLO: Jeffrey Peetz’s practice is focused on estate and trust planning
and administration, including litigation matters and business and wealth succession planning. He also works with
all types of clients from individuals and small business owners to larger sized agricultural operators and
community bank owners, advising them on contractual matters related to the operation of a successful business,
including business succession planning. Mr. Peetz received his Juris Doctor from Creighton University School of
Law and is a fellow with the American College of Trust & Estate Counsel.

Ramzi Hynek, Partner, Rembolt Ludtke, LLP: Ramzi Hynek’s practice focuses on estate planning, succession
planning, and developing family wealth transfer plans that minimize taxation while achieving each family’s unique
needs and goals. She also represents individual and corporate personal representatives and trustees in the
administration of estates and trusts. Ms. Hynek received her Juris Doctor from the University of Nebraska College
of Law.
Tax Apportionment
Jonathan L. Grob
McGrath North Mullin & Kratz, PC LLO
March 23, 2018
UNO Thompson Center
Omaha, NE
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Apportionment, Collection, and Payment of
Estate, Generation Skipping, and Nebraska 
Inheritance Taxes
Jonathan L. Grob
McGrath North
[email protected]
402‐633‐9560
1
I. Death Tax Overview
2
Federal Estate Tax
● Exemptions
– $11,180,000 per person (2018 –2025)
– $5,500,000+ per person (2026 -?)
– Inflation Adjusted
– Portable Between Spouses
● Tax Rate
– 40%
3
1
Generation Skipping Tax
● Applies to:
- Direct Skips, Taxable Terminations, Taxable Distributions
● Exemptions
– $11,180,000 per person (2018 –2025)
– $5,500,000+ per person (2026 -?)
– Inflation Adjusted
– NOTPortable Between Spouses
● Tax Rate
– 40%
4
Nebraska Inheritance Tax
● Tax Rates
– 0% (spouse and charity)
– 1% (siblings, descendants, ancestors)
– 13% (aunts, uncles, nieces, nephews)
– 18% (all others)
● Exemptions
– $40,000 (siblings, descendants, ancestors)
– $15,000 (aunts, uncles, nieces, nephews)
– $10,000 (all others)
5
II. Liability for Death Taxes
6
2