Estate & Trust Services
Specialized skills, services and experience
- Diverse clientele including high-net worth individuals and families, attorneys, professional trustees, and bank trust officers
- Extensive experience with preparation of Estate and Gift tax returns
- Expert knowledge on estate planning strategies and succession planning concerns
- Research on complex issues
- Review of trust documents and trustee assistance
- Business valuations
- Client specific ‘financial management’ services
- Fiduciary income tax issues
We offer an array of services in our fiduciary department. We have in-depth knowledge and experience in the areas of:
Estate and Gift tax return preparation
Our office has extensive experience in the preparation of Estate and Gift tax returns. We utilize specialized tax software for planning and preparation. We have experience preparing various out of state Estate and Inheritance Tax Returns, as well as with the Federal and New York returns. We are not attorneys and, therefore, do not provide legal services or advice but work in cooperation with legal professionals. We also work directly with individual executors, trustees, and financial advisors to assist them with their administrative responsibilities, such as collecting and transferring securities, adjusting tax basis, analyzing financial information for optimizing tax elections, and minimizing tax liabilities. The services we provide regarding estate and gift tax return preparation are further enhanced by additional services we provide such as valuation services for closely held business interests.
Estate Planning
Our services range from a brief review of an existing Trust Agreement, to an analysis of a complex estate plan. We value a “professional team” approach, working with attorneys, professional trustees, financial planners, and other professionals. We have the expertise to work with an assortment of estate planning vehicles like family limited partnerships, inter vivos trusts or probate estates, irrevocable life insurance trusts, qualified personal residence trusts, charitable lead trusts, and annuity trusts. We have assisted individuals, charities, and attorneys in setting up charitable remainder trusts and in using other charitable gifting techniques. We have the knowledge of both the filing requirements necessary for recognition of exemption under 501(c)(3) of Internal Revenue Code and the registration and filing requirements with New York State Charities Bureau, Office of the Attorney General. Also, we bring extensive skill and insight to the area of postmortem tax planning including handling interrelated income tax / estate tax issues and to analyzing the funding of various trusts.
Fiduciary Income Tax Preparation
Our specialized skills extend into the fiduciary tax preparation area. We are experienced in the preparation of returns for probate estates, simple and complex trusts, charitable remainder annuity and unitrusts, as well as charitable lead trusts. We prepare numerous fiduciary returns each year and provide back office support to a bank trust department, professional trustees, and executors.
