Form 706 lists the assets and liabilities of the decedent and determines if any estate tax is owed at the time of death.
The laws pertaining to estate taxes are complex and special care needs to be taken in the valuation of the estate assets and elections that are required to be made on the timely filed (Form 706).
From the time someone passes away until the time the entire estate is distributed a trust tax return (Form 1041) is required to be filed to report the income of the trust estate.
Having a qualified attorney and CPA is very important in carrying out your duties as successor trustee.
We can assist you with this.
Find out how we can help you with your estate and trust tax needs by calling 702-363-1971 or by filling out our contact form.