Representing the Executor / Trustee of an Estate FAQ

March 26, 2014

How should a trustee document his or her actions?

Whether or not the trustee accepts a fee, he or she should keep a log diary of the work done as trustee, including: The date Amount […]
March 26, 2014

Parent-child and/or grandparent-grandchild exclusion

A reappraisal of real property in the trust is required at the death of the settlor for property tax purposes unless an exclusion applies such as […]
March 26, 2014

Provisions to know in decedent’s testamentary instrument

With the assistance of an attorney it is important to determine the decedent’s intent. For this, ask whether distributions are to be made outright to the […]
March 26, 2014

What is a step up in tax basis and am I eligible?

A tax basis is generally the amount of your investment in a property for tax purposes. The tax basis gets used to figure depreciation, amortization, depletion, […]
March 26, 2014

Tax returns, critical dates, deadlines trustees should know

As early in the process as possible you should decide whether to obtain an extension to file of Form 706 and/or pay the tax if the […]
March 26, 2014

What is duty to account and how a trustee complies

A trustee has a duty to account on a regular basis for the actions he or she has taken as trustee so that his or her […]