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Estates and Trusts

Has a recent relative passed on and the administering of the estate and/or trusts begun? My firm provides services associated with the preparation of an estate's and/or trust's U.S. Income Tax Return for Estates and Trusts (Form 1041). In addition to the preparation of Form 1041, my firm's services include an analysis of any Will and/or Trust agreements and an analysis of assets on hand upon a decedent's date of death to determine what assets are held in probate versus what assets are held outside of probate. Such analysis also includes the determination of income and remainder beneficiaries, how income and principal will be allocated, etc. Also, if it is determined that a living trust existed, my services will include an analysis of whether it would be beneficial to make a Section 645 election to combine the estate and the living trust made irrevocable upon the death of the decedent. In addition, my firm has experience preparing fiduciary accountings, which are, in some instances, required to be prepared and issued to the beneficiaries on a periodic basis and/or necessary to prepare certain Forms 1041. Sometimes, fiduciary accountings are required by the courts and my firm has experience working with attorneys in mediating and settling the contesting of the will and/or trusts by beneficiaries.