Ideally, estate planning should be done when you’re alive, but more often than not you face unplanned circumstances, poor planning and/or things that could not be anticipated. Even if your loved one had an estate plan, there is still planning and preparation to do after his or her death to prevent any post-mortem tax consequences and preserve estate assets. Our estate planning professionals can advise you on the unique tax planning opportunities available for the decedent’s final return including:

  • Disclaiming bequests
  • Unified credit
  • Basis adjustment
  • Election on stock valuations
  • Charitable contributions
  • Retirement plan distributions

Our specialists can also work with you and your estate planning team on a number of post-mortem elections and other planning opportunities that may be beneficial to the estate including:

  • Qualified terminable interest property (QTIP) trust
  • Special use valuation
  • Deferral of estate tax payments
  • Deductions on estate tax return vs. on income tax returns
  • Partnership basis adjustments
  • Alternate valuation date
  • Section 303 stock redemption
  • Election to combine trust and estate for income tax reporting
  • Qualified disclaimer
  • Generation skipping transfer tax exemption allocation
  • Renunciation of powers
  • Judicial reformation/construction
  • Trust decanting

Questions? Fill out the form to the left to contact Pamela Wheeler.