A deceased person’s estate is a separate taxable entity from the individual.
Likewise, a trust is generally a separate taxable entity from its grantor. We consult with grantors and
their advisers regarding whether a trust is a separate taxable entity from its grantor. We prepare Form
1041 for the fiduciaries of domestic estates, trusts or bankruptcy estates. We advise fiduciaries on
income, distribution, and tax planning. We provide tax compliance and consulting services to executors
and trustees from the creation of an estate or trust as a separate taxable entity through the life of the
estate or trust until its termination. We advise and assist trustees in meeting the federal filing
requirements of the different types of trusts as well as the required state and local fiduciary income tax
We do more than just collect forms then deliver a tax return. We have a process that starts
with a review of your records against prior year returns. We use a checklist and an organizer to perform
an in-depth assessment of your current year situation. Once drafted, we follow up with additional
questions based on information revealed during a detailed review. These questions form the basis for
forward planning strategies. Finally, we end with a quality control check before delivering the returns to
A private foundation is a nonprofit organization which is usually created via a
single primary donation from an individual or business and whose funds and programs are managed by
its own trustees or directors. A private foundation generates income by investing its initial donation and
it disburses its investment income each year to desired charitable activities. The IRS holds private
foundations to several requirements and rules to receive and maintain this classification. We prepare
the annual returns required for private foundations and assist the trustees in complying with the IRS
requirements and rules.
We work with businesses held in trusts or by estates, including irrevocable trusts with independent trustees. Having a trust or estate as a shareholder or partner adds a level of complexity to the tax compliance not often seen by many business CPAs. We can work with your existing CPA to make sure the necessary elections are made on time. We assist with the record-keeping and reporting of Family Limited Liability Companies to provide for the transition of assets to your heirs.
A family office is an organizational structure that manages the financial and personal
affairs of a wealthy family. We provide tax compliance services to all the taxpayers served by a family
office. We collaborate with the team of professionals at the family office and any external advisers to
address the pivotal issues the family faces as it navigates the complex world of wealth management. We
consult on issues ranging from estate taxes to complicated family or business issues. We assist in
developing and implementing comprehensive wealth transfer plans including the transfer and
management of business interests, the disposition of the estate, the management of family trusts,
philanthropic desires and continuity of family governance. Family education is an important aspect of
our service including educating family members on financial matters and instilling the family values to
minimize intergenerational conflicts. We work collaboratively with your team of advisors to ensure the
family’s wealth transfer plan is well-coordinated and optimized for your legacy desires.