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By: Scott Grossman on February 7th, 2018

Tasks of a CPA During Probate Administration

As the personal representative of your loved one’s estate or the trustee of his trust, you are tasked with a significant amount of responsibility. You must ensure that his wishes are carried out in the manner that he outlined. You also must fulfill the legal obligations of the trust or estate, including the payment of taxes and filing of tax returns. Fortunately, you are typically entitled to enlist the help of an experienced professional to carry out these tasks. This may include a certified public accountant. We encourage you to keep on reading to learn more about the tasks of a CPA during probate administration.

Specific Tasks of a CPA During Probate Administration:

  1. First of all, they prepare annual fiduciary income tax returns if the estate earns income.
  2. They also prepare annual trustee income tax returns if the trust earns income.
  3. Furthermore, they prepare the final income tax return of the decedent.
  4. Also, they are in charge of preparing the estate tax return of the decedent. This is done if he or she had a taxable estate.
  5. Additionally, they prepare any gift tax returns that have not yet been filed.
  6. They must also file for extensions on any tax returns that are due.
  7. Furthermore, they assist with the preparation of the trust or estate’s annual accountings.
  8. Lastly, they assist with the valuation of the estate or trust assets.

If you are ready to start your case, then please give us a call or fill out our Get Help Now form.  If you want a comprehensive overview of California Probate, then click here. Should you have additional questions about trust litigation, then you will find plenty of useful information in our Learning Center.