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The Wealth & Wisdom Blog

Information on Estate Planning, Estate and Trust Administration and Unique Asset Planning

Administration Timeline
Timeframe:Task(s):
Beginning of Administration Process “Certificate of Trust” and “Acceptance of Trustee” documents prepared and signed.
By April 15 year following deathFile final income tax return of deceased.
As soon after death as may be reasonableNotify social security, V.A. and any institution making payments to decedent.
Within reasonable time after deathDetermine and pay all outstanding bills of the decedent.
Within 6 months of deathLocate all assets, notify of any changes in address, and prepare inventory and appraisement of same
During trust administrationMake changes in investments and holdings as may be prudent.
Maintain accounts.
Nine months from date of deathEstate Tax return due
Fiscal tax year end of trust (any month-end)First fiduciary income tax return due
Nine months from filing estate tax returnDeadline for making estimated estate tax payment, if any.
3 years after filing of final income tax returns End of claims period for potential liability for income taxes

 

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