Dealing with the incapacity or passing of a loved one is difficult enough, without adding the stress of estate or trust administration. Instead of being given time to grieve and support family members, a surviving spouse or family member may be tasked with paying their loved one’s taxes, managing the many financial and legal obligations of the estate, and distributing assets. Even if the person in charge as executor or trustee is comfortable executing the terms laid out by a court, will or Trust, any mistakes made during the process could have long-lasting and costly consequences for both the person in charge and the beneficiaries. It makes good sense to bring in qualified professionals to help.
Our Trust and Estate Administration Law Firm Handles The Legal Paperwork, So You Can Attend To Other More Important & Personal Matters
The Law Firm of Kavesh, Minor & Otis, Inc. has handled the administration upon disability or death for over 4,000 estates, easing the burden on countless family members throughout Southern California. If you qualify, we offer a free initial consultation to determine what will need to be done during administration, how we may help, and offer a fixed fee quote. Simply fill out our contact form to get started.
Our Trust And Estate Administration Attorney Can Help With The Following:
The Key Tasks
When the estate administration involves a Living Trust, the successor trustee (often the surviving spouse) assumes control of the property held in the trust without the need to go through probate. However, numerous time-consuming and responsible tasks, including gathering asset information and appraisals, remain to be done. Furthermore, there are decisions involving asset sales, divestment, and division among beneficiaries, which must take place timely and in accordance with the estate plan in a timely manner.
Federal Estate Tax Return
We have efficiently and effectively prepared estate tax returns for over one thousand clients over the years. High-value estates may be required to file a tax return and pay taxes within nine months of a death. Even if no taxes are due, a federal estate tax return may be filed when the first spouse dies to help reduce or eliminate estate tax when the surviving spouse dies. Our work in preparing these returns goes far beyond plugging in your information and computing the taxes due; we employ legal strategies to help reduce your family’s tax obligation.
Distributions to Beneficiaries
If assets in trust are not properly distributed to heirs, they may be subject to legal challenges and taxation down the road. Most importantly, real estate transfers to beneficiaries should be done with the assistance of a law firm, to avoid jeopardizing your low property tax base. If beneficiaries are to receive their inheritance through a Personal Asset Trust, this will need to be established properly. We oversee distribution matters to maximize asset protection benefits, and ensure the trust works properly, as intended.
