At ANN C. HARRIS, APLC, we assist the surviving family members and guide trustees in completing difficult tasks required to manage the administration of a revocable trust that becomes irrevocable at the creator’s (grantor’s) death. We also provide assistance and guidance to trustees of other irrevocable trusts in connection with income, gift and generation skipping transfer tax implications. As well as reporting and the on-going management and distribution of trust assets as directed in the trust instrument.

 

We also advise trust beneficiaries of their rights to receive payments from, tax information and reports of the financial activities related to their interests in a trust.  In connection with distributions made from a trust to a beneficiary, we can assist the beneficiary with income tax reporting. 

 

Our firm advises fiduciaries, administrators, trustees, and beneficiaries on all aspects of estate and trust administration.

 

Our attorneys prepare any required gift tax returns (IRS Form 709), estate tax returns (IRS Form 706) and IRS Form 8971, the basis information form, assist in the preparation of fiduciary income tax returns for federal and state taxes, the funding of bequests and/or sub-trusts (such as survivor’s, marital, credit shelter, Qualified Sub-chapter S and/or generation skipping trusts) created under the estate plan, the income taxation of and income tax planning for estates and trusts, the use, preparation and implementation of "qualified disclaimers" and other aspects of post-mortem planning.