Estates & Trusts


Navigate Your Role as Executor or Trustee

Executors often face daunting challenges and complexities in administering estates. Usually a close friend or family member is named as executor in a will because the decedent trusted him or her to carry out their wishes. The role of executor can be a difficult, time-consuming and challenging job with imbedded risks, including personal risks for executors in carrying out their duties. The same holds true for trustees of many lifetime and testamentary trusts.

Estate and gift taxes and fiduciary income taxes can accrue quickly if an estate or trust is not managed properly. Understanding related tax and probate laws is critical to planning and managing estate and trust administration. The use of strategies like optimum timing of distributions, choosing the best place and ways to take certain deductions, and various tax elections can have a huge tax impact and limit exposure for executors and trustees. Working through these and other administrative steps on estates and trusts can be made easier with experienced and professional guidance.

Prudent Assistance for Executors and Trustees

  • Tax Preparation – Preparation of estate and gift tax returns, final individual income tax returns for decedents and fiduciary income tax returns.
  • Tax Planning – Analysis of exposure areas and development and implementation of effective strategies to help minimize tax and exposure for executors and trustees.
  • Administration – Assistance with navigating the required processes and duties of executors and trustees. Coordination with attorneys, financial advisors, valuation specialists and other advisors as needed to help ensure an efficient and effective administration process.
  • IRS and State Tax Resolution – Assistance with tax notices, penalty abatements, audit representation, and collection matters.

Don’t let an executor or trustee appointment overwhelm you or put you at unnecessary risk. Get assistance from our team of experienced specialists and learn how we can help make fulfilling your duties easier.

Jeff Horsley
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Ron Farmer
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