Estate

WE help with filing the legal document filed after a person’s death to report the value of their assets and liabilities. It is used to calculate if any estate tax is owed to the government based on the estate’s total value, applicable deductions, and tax exemptions. As the executor or administrator of an estate, you may need to file an estate tax return (IRS Form 706) to account for all of the decedent’s property at the time of death. This formal accounting includes all assets, such as real estate, investments, and life insurance, at their fair market value. The return also details deductions for items like mortgages, administrative expenses, and charitable bequests to determine the estate’s taxable value