Probate
Probate is a process after a person’s death that begins with the appointment of the Estate’s personal representative (called an “executor” with a Will; “administrator” without) and ends when distribution of the estate is complete. In Pennsylvania the process is usually not complicated or expensive; however, although it does not require the assistance of an attorney, oftentimes one is advisable, wanted or needed by the executor. The process is undertaken to pay the descendant’s expenses, funeral bills, and taxes and estate’s administration expenses, and the applicable estate’s tax returns are filed and paid, and the assets distributed to the beneficiaries. It can be difficult for a family member to deal with all the big and little details in an Estate; Tom Flynn has over 32 years of experience and will help you with every step of the process, or just the ones where you need assistance.
Inheritance and Estate Tax Returns
The executor of a Pennsylvania estate files an inheritance tax return and inventory, and if the estate is large enough, a federal estate tax return; Mr. Flynn has been preparing them for three decades and can do so efficiently and effectively.
A federal estate tax return may be advisable for portability of a deceased spouse’s unused federal estate tax exemption even though the filing of the return is not required, and should be considered and discussed.
Estate and Trust Fiduciary Income Tax Returns
The estate is a tax paying entity, like a person; if it earns income (typically interest or dividends), or has capital transactions (sale of stock, house, etal,) it must file a federal and PA income tax return. Crawford Diamond Flynn LLC has been preparing and filing these returns for estates and trusts for many years and utilizes the better software programs available.
Distributions
During the course of an estate or trust administration, advanced distributions can be made, and, upon completion, final distributions are made. Prior to these distributions, the appropriate documentation must be obtained from either the beneficiaries or the Orphans’ Court if the executor wants protection for her administration of the estate. This documentation is prepared by our firm, reviewed by the executor and disseminated to the beneficiaries or filed with the court; upon approval of the documentation by the beneficiaries or the court the distributions are made.