Helping Clients through a Loved One’s Estate Tax Filing
If you are named as the executor of a loved one’s estate, the responsibility to file a federal estate tax return may fall on your shoulders. Greenberg Bitton LLP can be there to help you carry the burden and ensure all that’s owed to the IRS is paid and reducing the risk of scrutiny.
Although the threshold for when the federal estate tax applies is more or less a moving target year-to-year, as of 2020 estates totaling $11,580,000 are subject to taxation upon the owner’s death. If a loved one’s estate falls near the amount where an estate tax would apply, we can work with you to assess exemptions and deductions that may apply to your situation.
Deductions against an estate’s total value can include:
- Funerary expenses
- Administrative expenses
- Creditors’ claims against the estate
- Charitable bequests
At Greenberg Bitton LLP, our estate tax attorneys in Beverly Hills want to make sure our clients feel confident when they confront their tax challenges, especially those posed by dealing with a loved one’s estate. You have nine months from the passing of a loved one to file their estate tax return, so time is of the essence, especially for complex estates.
California Lacks an Estate Tax
Despite recent attempts to change the status quo, there is no state-level estate tax in California. This means that unless the state adopts legislation that establishes an estate tax, certain estates may only be subject to federal estate taxes.
Final Income Tax Return Filings
As an executor of someone’s estate, not only are you tasked with filing their estate tax return, but also their final income tax return. This important document must be prepared accurately and quickly to avoid unnecessary penalties and fees.
While you may know everything about where your money comes from, determining the same for a loved one who has passed away with a complicated or disorganized estate can be challenging. The attorneys of Greenberg Bitton LLP can help you work through your loved one’s final income tax return so you can file it with greater confidence that it will avoid common errors that could trigger an IRS audit.
Support During Estate Tax Audits
If you felt confident filing a loved one’s estate tax return or final income tax return but are now being audited by the IRS, reach out to Greenberg Bitton LLP immediately for help. We can provide aggressive representation on your behalf if the IRS is erroneously trying to claim more than what you actually owe in taxes.
Do You Need Help Filing Taxes for Someone’s Estate?
The estate tax attorneys in Beverly Hills at Greenberg Bitton LLP offer comprehensive tax solutions to clients challenged by closing a loved one’s estate. We know this may not just be a legally challenging time for you, but an emotional one as well. That’s why our attorneys are prepared to lift the burden of dealing with someone’s estate taxes off your shoulders so you can feel comfortable to process your loss as you feel appropriate.
Our Differentiating Principles
Effective representation and communication are improbable when overburdened with clients. Calls go unanswered and unreturned, and clients end up feeling frustrated and abandoned. Our firm never overloads our attorneys. Our clients deserve excellent representation and consistent communication.
Honesty and Integrity
Our firm will give you an honest assessment of your legal needs. Our approach is to help educate potential clients so that they can resolve simple matters on their own. If your matter can be resolved with one phone call, we will tell you.
Competitive Legal Fees
We believe in transparent pricing and aim to provide legal representation for a competitive, fixed fee whenever feasible. Call us today for a proposal regarding your legal matter.
Multifaceted Experience and Approach
Our attorneys have extensive experience in their respective practices, and work together to bring our clients a comprehensive solution to their legal needs.
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