The attorneys at Blair & Potts are frequently asked by Executors to oversee the administration of large, complex estates and to provide counsel and assistance in connection with the collection, valuation and disposition of the decedent’s assets. We take an active role in post-mortem tax planning in order to administer the estate in the most tax-efficient manner. This approach often times will lead to significant savings that are then passed along to the estate’s beneficiaries. In addition to preparing and filing the necessary probate documents, it is common for us to perform the tax preparation and accounting work required to settle the estate. Whatever our role might be, we approach our work with the sensitivity and personal attention that is required during times of great difficulty.
In addition to providing assistance during the relatively brief estate settlement period, we are able to assist the Trustees of ongoing trusts with the various legal and tax requirements they face. Much of our work in this area involves ensuring that the Trustee is meeting its fiduciary duties to the different classes of beneficiaries of the trust, which is often times a very sensitive balance to strike. As with the administration of estates, our experience allows us to advise on the various tax issues involved with managing a trust.