| Originator: | Jaimee Paine Status: Approved Department: PAR Paralegal |
| Date Created: | 04/25/2018 Submitted: 06/07/2018 Completed: 11/13/2018 |
| Effective Semester: | Fall |
| Catalog Year: | 2019-20 |
| Course Prefix: | PAR |
| Course Number: | 202 |
| Course Full Title: | Wills, Trusts, and Estates |
| Old course information: | |
| Reason for Evaluation: | Prerequisite Change Description Change CSLO, Competencies, and/or Outline Changes |
| Current Credit: | 3 |
| Lecture Hours: | 3 |
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| If the credit hour change box has been marked, please provide the new credit hour: | |
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| SUN Course?: | No |
| AGEC Course?: | No |
| Articulated?: | Yes |
| Transfer: | NAU |
| Prerequisite(s): | PAR 101 or concurrent enrollment |
| Corequisite(s): | None |
| Catalog Course Description: | This course teaches legal procedures and requirements for estate and trust administration, fiduciary duties, and probate and intestate succession. This course prepares for the assisting of lawyers in estate planning documents from drafting to execution. |
| Course Learning Outcomes: | 1. Draft estate planning documents under the supervision of an attorney. (1, 2, 3, 7)
2. Adhere to legal proceedings for trust and estate administration and the role of the fiduciary. (3, 4, 5, 6, 7) |
| Course Competencies: | 1. Determine the components and the purpose of an estate plan.
2. Compare the variety of estate and trust types. 3. Classify types of property and the forms of property ownership. 4. Outline the steps of estate and trust administration. 5. Summarize the role of the fiduciary. 6. Distinguish the different methods of distribution. 7. Identify legal and ethical concerns in estate planning and administration. |
| Course Outline: | I. Components and the purpose of an estate plan
a. advance directives b. advantages and consequences 1. testate 2. intestate c. client interview d. Power of Attorney e. Living Will f. Codicil g. spousal election h. community property law i. survivorship clause j. simultaneous death clause k. Personal representative l. revocation II. Estate and trust types a. types of estates 1. testate 2. intestate 3. life estate 4. fee simple 5. tenancy for years b. types of trusts 1. revocable 2. irrevocable 3. specialized trusts i. spendthrift ii. sprinkling iii. spray iv. marital deduction v. charitable 4. express trust 5 resulting trust 6. constructive trust 7. gifts III. Types of property and the forms of property ownership a. real property 1. owner in severalty 2. joint ownership 3. joint tenancy 4. tenants in common 5. tenancy by the entirety 6. community property b. fixtures c. personal property 1. tangible 2. intangible d. probate assets e. non-probate assets 1. life insurance 2. pay on death IV. Steps of estate and trust administration a. letters of appointment b. inventory and appraisal c. creditors' claims d. tax documents e. Final Account f. closing the estate V. Role of the fiduciary a. Trustee b. Personal representative c. tax documents d. tax due e. estate tax f. unified credit g. inheritance tax VI. Methods of distribution a. order of preference b. statute of intestate succession c. escheat d. summary administration e. transfer by affidavit f. ancillary administration g. domiciliary administration h. remainderman VII. Legal and ethical concerns in estate planning and administration. a. American Bar Association b. State rules c. Unauthorized Practice of Law (UPL) d. Penalties e. confidentiality |