Estate and trust administration is time consuming and requires expertise and knowledge. The process involves identifying assets, setting up proper records, following accepted procedures, and fulfilling on-going legal and tax requirements. The burden of learning tax and legal concepts, processes and procedures can be overwhelming. Leaving matters undone will result in years of questions and follow up by tax authorities. A surviving spouse or executor of a will may find this responsibility daunting during an already difficult time.
When a death occurs, we provide expert estate consultations as well as settlement services intended to make a complex and tedious job more bearable, while generating the best tax results. And we focus on developing a new financial plan for the survivor.
Our Estate Settlement and Administration services include:
- Meeting with the family to discuss the will, arranging for probate of the will if required and for tax clearances.
- Organizing and administering the estate as it pertains to business interests, including discussions with partners/shareholders.
- Administering the establishment and maintenance of trusts.
- Preparing statement of assets and liabilities and protecting the assets.
- Ensuring all legacies, debts, taxes and death duties are paid.
- Transferring title on securities and other assets.
- Follow-up and ensuring payment from insurance as indicated.
- Providing a complete accounting service for the estate as well as completion of all required tax returns, for the settlement period and for ongoing lifetime trusts and estates.
- Developing financial plans for the survivors, to ensure that all proper steps are taken toward their financial security and independence.
