Legal Question in Wills and Trusts in Illinois

Re: Estate tax closing letter

Sometimes it takes quite awhile to obtain a closing letter on an estate. It can be delayed by filing an extension on the return, or by an audit of the entire return. Depending on the size of your father's estate, audits can be a routine matter and be time-consuming. For example, approximately 50% of estates over $10M are audited.

The IRS will not give out information on the estate return since you are not the representative. On the other hand, the executor or the attorney should provide you with information on the status of the estate and timing of the distribution. Many times, it is possible to make preliminary distributions before the closing letter is received, if there is enough money held back to cover additional taxes that might be assessed as a result of an audit.

If you have not already consulted with your own attorney, it might be a good idea to have somebody review the estate issues so that you can have some independent advice to rely on, and so your attorney can represent your interests before the probate court.

Please let me know if I can assist.