Fiduciary, Trust & Estate Tax 📜

A missed election or miscalculated distributable net income figure doesn't just cost money — it can trigger beneficiary disputes or unwanted IRS attention. We handle:

• Form 1041 fiduciary income tax returns for complex trusts and estates — income allocation, DNI calculations, and character-of-income allocation (ordinary income, capital gains, tax-exempt interest) to beneficiaries

• Section 663(b) 65-day elections and Section 645 elections for qualified revocable trusts

• Trust-level Net Investment Income Tax (NIIT) monitoring and quarterly Form 1041-ES estimated payments

• Form 541 for California trusts and estates, including state-source income adjustments and Schedule CA (541)

• Form 706 (U.S. Estate Tax Return) — date-of-death valuation, marital and charitable deductions, DSUE and QTIP elections, Section 2032 alternate valuation date elections, and valuation discounts for closely-held business interests

• Form 709 (Gift and GST Tax Return) — gift-splitting elections, GST exemption allocation, and Crummey withdrawal right qualification for ILITs

• Estate and gift tax planning through credit shelter trusts, GRATs, CRTs, and generation-skipping trusts

• Form 5227 for charitable remainder and charitable lead trusts