Services provided include:
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Administration Services:
- Payment of funeral expenses, debts and administration expenses
- Notice to creditors, review claims filed against estate, payment of valid claims, contest invalid claims
- Filing of Probate Court documents
- Coordination of tax filings and probate filings with third parties
- Inventory, safekeeping and custody of estate assets
- Collection of debts owed to decedent
- Collection of income and distribution of income earned by estate to beneficiaries
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Valuation Services:
- Valuation of stocks, bonds, partnership interests, mutual fund shares, etc., on the date of death and the alternate valuation date
- Coordinate appraisals for real estate, closely-held business interests and tangible personal property
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Tax Services:
- Preparation of Federal Estate and State Inheritance tax returns
- Coordinate with accountant for preparation and filing of final income tax return
- Coordinate with family accountant for preparation of fiduciary income tax return
- Provide K-1s to estate beneficiaries
- Participate in audit process if estate is audited by Federal or State officials
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Investment Management Services:
- Review of overall allocation of estate assets
- Assessment of tax considerations for estate assets
- Maintain prudent investment of assets during estate administration period
- Liquidation of assets if necessary to satisfy tax liabilities
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Custodial and Accounting Services for Estate Assets:
- Registration of securities into name of the estate
- Processing and reporting of income received on estate assets
- Establish and maintain estate checking account
- Allocate receipts between income and principal