Can I avoid probate my making my sons executors before my death?
I have to pay federal and state income taxes on my retirement and Social Security. My sons are listed as my personal representatives in my will and can, therefore, do my taxes. However, they would have to apply to the State of Maryland to formally become personal representatives and that costs money and probably will involve probate--something I want to avoid, particularly since they live out of state. Is there a legal form that I can fill out now that would obviate the need of my sons' filing as Personal Representatives? Could I, e.g., do a Power of Attorney that gives them the legal right to do my taxes? Would IRS accept that? Thank you.
1 Answer from Attorneys
Re: Can I avoid probate my making my sons executors before my death?
Filing the form shown at the following link may assist you with accomplishing your objectives.
http://www.irs.gov/instructions/i2848/ch02.html#d0e290
You will need to enter your representative's name on the form and up to three representatives can be entered on one form. Whether you choose to have more than one representative is a choice that you should discuss with an attorney or tax specialist.
This may be an option to ensure tax liabilities are paid without incurring penalties or costs but may not avoid probate matters. You are relying on the ability of the designated representative with taxation matters.
Based upon your inquiry, this filing with the IRS is needed and you may want to obtain the services of an attorney to ensure that any and all other issues are properly addressed.
You should not effect this form without speaking with an attorney.
You may have other legal matters related to your inquiry that requires legal assistance.
I am available at (410) 750-2567.
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