Estate Administration

Paley & Prehn, PLC

Losing a loved one is an incredibly challenging experience. We recognize the profound impact of grief and the importance of honoring the memory of your loved one during this difficult time. Our experienced attorneys not only possess the legal expertise to navigate the complexities of estate administration, but also genuinely empathize with the emotional journey you are going through.

The lawyers at Paley & Prehn provide comprehensive estate administration services with compassion, sensitivity, and professionalism. We will guide you through the estate administration process, keeping you informed at every step of the way and ensuring that you understand your rights and responsibilities.

What is Estate Administration?

Estate administration is the process of settling a person’s financial and legal affairs after death. Depending on the circumstances, it may involve:

• Probate Proceedings – Probate is the legal process of validating a will and distributing the assets of the deceased under court supervision. It is also necessary in many cases where the decedent died intestate (without a will). [Learn more about Probate»]

• Trust Administration – If your loved one created a trust, our attorneys will guide you through the entire trust administration process, ensuring that all legal formalities are met and that assets are distributed according to the trust’s terms. [Learn more about Trust Administration»]

• Small Estate Administration – For smaller estates, we can help you with simplified administration procedures, allowing for a quicker resolution while complying with legal requirements.

• Fiduciary Accountings – We assist Executors and Successor Trustees with thorough and accurate fiduciary accountings to ensure transparency and compliance with their legal obligations. [Learn more about Fiduciary Accountings»]

• Final Income and Estate Tax Returns – Dealing with the taxes of a decedent can be complex, but our knowledgeable attorneys will help you prepare and file any required tax returns, including final 1041 returns and 706 returns, if required. Note that even if the estate is below the federal estate tax exemption amount, in cases where a surviving spouse wants to take advantage of the unused portion of their deceased spouse’s exemption (otherwise known as “portability”) our attorneys can facilitate the proper tax filing to maximize this benefit.

• IRS Transfer Certificates for Heirs Residing Abroad – We can assist heirs residing outside the United States to obtain transfer certificates from the IRS, to facilitate the distribution of U.S. estate assets.

• Estate Proceedings in Multiple Jurisdictions – Ancillary probate and other estate proceedings play a crucial role in managing assets when a decedent owns property in multiple U.S. and/or foreign jurisdictions. Our law firm specializes in navigating the intricacies of these proceedings, ensuring seamless coordination between primary and secondary estate administrations. With a deep understanding of cross-border regulations, we provide comprehensive guidance to safeguard your interests.

• Foreign Reporting Obligations – U.S. estates and beneficiaries with international connections often face additional reporting requirements, such as FBARs (FinCEN Form 114), FATCA disclosures (Form 8938), and foreign asset reporting on estate or fiduciary returns. We guide fiduciaries and beneficiaries through these obligations to avoid penalties and ensure full compliance with U.S. tax and reporting laws.

Each estate is unique. Our role is to identify the path that applies to your case, and then guide you through it step by step.

Compassionate and Professional Estate Administration Services

Different estates require different approaches to administration – whether due to the size of the estate, the location and type of assets, and the needs of the beneficiaries, among other things. Whether you are dealing with an estate where the deceased did no advance planning, or with a complex trust, our lawyers can help you navigate the process, ensuring that the wishes of your loved one are honored and the estate is settled efficiently.

At Paley & Prehn, PLC we believe that administering your loved one’s estate is more than just a legal process, it is a deeply human experience. We ease the burden of estate administration with compassion and sensitivity so that you can focus on cherishing the memories of your loved one and finding solace in their legacy. Contact us today to schedule a consultation.