Final Accounting: Estate administration essentials

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.

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.

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