Gift, Estate and Trust Advisory and Compliance

The Gift, Estate and Trust Advisory and Compliance group is experienced in all aspects of estate, income, and gift taxation; trust tax compliance; charitable giving and philanthropic foundations; executive compensation; and cash-flow, retirement, and life insurance planning. We have a wealth of professional resources dedicating to minimizing our client’s tax burdens, while maximizing compliance with local and international regulations. We prepare fiduciary income tax returns Form 1041, Forms 706 and 709 and applicable state returns. We also provide advice to closely-held partnerships and S corporations.

Estate Administration

Because of the enormous responsibility and potential personal liability for the consequences of any decisions made or actions taken on behalf of the estate/trust, executors/trustees will often rely on professionals such as accountants, attorneys, investment advisors, business managers, or property managers, etc. to help them carry out the purposes of the will or trust. Our multifaceted approach includes minimizing tax burden, protecting real assets, and identifying and implementing strategic transfer of personal and business interests. We provide a comprehensive range of fiduciary services, including:

  • Tax planning for trusts, estates and beneficiaries.
  • Assistance with estate administration. Creating an accurate list of the decedent’s assets and paying outstanding obligations. Guidance throughout the estate administration concluding with the ultimate distributions of the decedent’s residual assets according to the terms of the will.
  • Assistance with funding trusts created under the will of a decedent or under trusts created during lifetime or upon the death of the grantor accordance with will/trust provisions.
  • Assistance with creating new accounts and for applying for identification numbers for newly created entities.
  • Assistance with calculating the required distributions.
  • Analysis of the tax savings and determining the tax impact to the trust and to the various classes of beneficiaries when making discretionary distributions.
  • Representation in the resolution of tax disputes before the Internal Revenue Service.

Obtain more information by e-mailing Irene Fasano.