We offer trust tax assistance to trustors, trustees, beneficiaries, and attorneys in the following areas:
  • Trust Tax Returns (federal & state)
  • Trust Planning
  • Trust Administration
  • Trustee Support

Trust Tax Returns

We prepare and file trust income tax returns for your federal and each state in which you are required to file.

Federal Trust Income Tax Returns (IRS Form 1041)

We prepare the federal trust income tax return (IRS Form 1041) for you.

State Trust Income Tax Return(s)

We prepare state trust tax returns for each state that you are required to file a return.

Trust Planning

We assist you with weighting the pros and cons of the various types of trust and state taxation of trust against your situation to choose right trust(s) for circumstances to protect your love ones and your assets while paying the least amount of taxes possible.

We work with you directly.  Or, we can assist your attorneys, financial advisors, insurance agents, and other service providers. In case you don’t have a team, we have professionals we work including attorneys, financial planners, financial advisors, and insurance agents.

We analyze your situation to customize a trust strategy that makes sense for you.Trust Planning

Trust AdministrationTrust Administrator

We help trustees with administering the trust.

We assist in the following areas:

  1. Information Collection: We collect all necessary information of the trust.
  2. Asset Collection: We collect all necessary information of the trust
  3. Liability Collection: We identify and list the trust’s liabilities.
  4. Asset Segregation: We segregate the trust’s assets.
  5. Bookkeeping: We assist in tracking, recording, and reporting financial activity  of the trust.
  6. Tax Return Preparation: We prepare all required trust income tax returns for federal and state(s).
  7. Income Distribution: We assist with income distribution to the deemed owner such as reporting income on owner’s IRS Form 1040, preparing “a grantor tax information letter”, issuing Schedule K1 and/or issuing IRS Form 1099’s.
  8. Asset Distribution: We assist you with when, how, and what assets to distribute.

Trustee SupportTrustee Support

We help trustees with fulfilling their roles as trustees by offering support in the following areas:

  • Trustee: We assist and coach trustees with serving their fiduciary role.
  • Trust Accounting: We provide accounting for the trust and prepare all required financial reports.
  • Other Trust Filings: We assist trustees and attorney with preparing any other necessary filings of the trust.
  • Contested Trust: We can asset in defending or bring a claim in contested trustees discharging or lack of discharging their duties.