Estate Planning

Estate planning is assisting executors with the organization and processing of estate documentation. The executor or administrator of the estate has the important task of administering the estate efficiently and properly. The important duties assigned to the executor include:

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Collecting and organizing estate assets
Paying estate debts
Minimizing estate taxes liability
Paying the IRS the correct amount of death taxes
Preparing and filing inheritance tax forms with the IRS
Valuing, managing and liquidating estate property
Locating beneficiaries

Estate and inheritance taxes

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A good estate tax preparer will assist you with complicated tax obligations by:

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Evaluating deductions to reduce the taxable estate
Calculating the fair market value of the estate
Preparing estate and inheritance tax forms
Reviewing the estate and inheritance tax closing letter
Representing the estate in an IRS or state revenue department examination
Appealing inaccurate proposals of estate or inheritance tax amounts made by the IRS or state revenue agents

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Simple Trust - Married or Simple Trust - Single

includes the following.

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1. Pour-Over Will

2. Transaction Specific Revocable Trust

3. Transfer documents

4. Durable Powers of Attorney - Health and Assets plus HIPAA

5. Guardian of Minor Children or incompetent elder family member (client would have to obtain 2 doctors who would write a letter stating the member is incompetent as proof).

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Not included in the cost of the simple trust Married/ Single is an additional fee collected at the same time.

Adding a special needs provision adds a cost of $225 (refers only to beneficiaries that allows them to get their pension they are receiving. The individual's inheritance is kept in the trust to not lose their pension)

Adding a drug alcohol provision adds a cost of $225 (require rehab, drug testing every year, plus more as dictated by the client)

Adding a non-US citizen as trustee adds a QDOT provision fee of $225

For returning clients who require changes to the Trust, POA - Health and Assets

Each amendment is a $250 fee. Example changing the successor trustee or adding a beneficiary. The cost is per article in the trust. They can change all beneficiaries mentioned in the one article as an example

Estate Planning

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