Trusts & Estates – Preparation & Compliance Services


As part of our Taxation practice, we work in the preparation and compliance of estate tax returns – Form 1041 for income taxes and Form 706 for estate taxes.  Our fiduciary clients (executor, trustee, administrator, or personal representative) appreciate our understanding of the tax laws, so that we can optimally match income and deductions, including the use of distribution timing and related trust tax elections, to minimize tax liabilities.

Our professionals know what tax elections are available and when and how they must be made. We also understand the effect of state laws on both federal and state trust and estate tax returns.  We typically work with your estate planning attorney in this process.

Of course, we focus on timely and accurate preparation of these tax returns.  We make sure that all documentation is thorough and well-organized, and ready for any potential IRS audits, which are relatively common for these returns.  Further, our valuation discounts, calculation methodologies, and assumptions are designed to face the scrutiny of potential litigation.

If you would like to learn more about any of our Trust & Estate – Preparation & Compliance services, contact Smith Dickson today.