Personal representatives have many tax-related obligations during probate administration. Finding a CPA to help with these tasks may be beneficial.
Articles about Accounting
How do I go about valuing assets such as the furniture and other household items owned by a California estate?
Valuing assets is a responsibility of an executor or administrator as part of the estate administration process.
My mother had a trust and also a joint tenancy account with my brother. Can I make him account for the money he took from the joint tenancy account?
Maybe. In California, joint tenancy bank accounts are treated differently from joint tenancies in real estate.
Not all of a decedent’s assets will go through the California probate process. If the deceased had no titled or significant assets to his or her name, then the probate process may not even be necessary.
One of the most important tasks a trustee has is to prepare an accounting of the trust. Most trustees should seek guidance from an experienced attorney.
When administering a trust or estate, a CPA can carry out many important tasks. Many of these tasks involve the preparation and filing of tax returns.
California probate accountings require the inclusion of various schedules. View here for more from a Riverside probate attorney.
Errors documenting estate expenses in an executor’s accounting are fairly common. Following certain rules will help avoid these mistakes.