Who we serve
Careful support for trusts, estates, and the people who manage them.
Settling an estate or administering a trust brings tax and reporting responsibilities that arrive at a difficult time. We handle the fiduciary income tax and accounting work, explain what is required, and coordinate with your attorney and advisors so the pieces fit together.
What we do
Fiduciary tax and accounting support
Fiduciary income tax returns (Form 1041)
Preparation of federal and state fiduciary income tax returns for trusts and estates, with income, deductions, and distributions reported consistent with the governing documents and applicable rules.
Estate and trust accounting
Organized accounting and reporting of principal and income, so activity is documented clearly and available to support the fiduciary’s records and required filings.
Beneficiary reporting
Preparation of the reporting beneficiaries need for their own returns, including Schedule K-1s reflecting each beneficiary’s share of income and deductions.
Coordination with your attorney and advisors
We work alongside your attorney and financial advisors, particularly where legal documents or estate planning instruments are involved. Interpretation of those documents and estate planning strategy remain with your legal counsel; we handle the tax and accounting.
Support for executors and trustees
Practical help for executors, personal representatives, and trustees in understanding filing obligations, gathering the necessary information, and meeting reporting responsibilities on time.
Connected planning considerations
Because a trust or estate rarely sits apart from the family’s broader finances, we consider how fiduciary matters connect to the individual and family tax picture and flag items worth discussing with you and your advisors.
Who we work with
Roles and responsibilities differ, but each carries its own reporting and tax obligations. We shape the work around where you sit in the process.
- Executors and personal representatives
- Trustees administering a trust
- Beneficiaries of a trust or estate
- Families and their advisors
Where to start
A conversation about the situation
Tell us where things stand and which documents and prior filings exist. We can identify the likely scope and the next steps.
Discuss a trust or estate matterFreedman CPA, P.C. provides tax and accounting services. We do not provide legal advice or prepare legal documents; we work with your legal counsel on wills, trust instruments, and other estate planning documents.
Managing a trust or settling an estate?
Reach out to talk through the tax and reporting responsibilities, and how we can work alongside your attorney and advisors.