Estate Tax Returns

Depending on the size of the decedent’s estate, the Executor or Trustee may need to file state or federal estate tax returns within a prescribed time period after the decedent’s date of death.  Although some decedents may not have a “probate” estate (meaning all of their assets avoided the probate process), they could very well have a “taxable” estate, because the IRS views any assets controlled by the decedent (like life insurance, funds in trust, and retirement plans) as part of the decedent’s gross estate.  It is important that the Executor or Trustee seek the advice of counsel during this crucial time to determine the estate’s tax liability and to avoid unnecessary interest and penalties for late or incorrect filing of estate tax returns.

In addition, the Executor and/or Trustee may be required to file individual and fiduciary state and federal income tax returns for any income the estate or trust generates.  These tax filings may continue for as long as the estate or trust generates income.  Brown & Brown, P.C. works with our clients to ensure that taxes are filed on time, and we can help you to prepare and manage a complicated estate tax return.