Legal Question in Wills and Trusts in Texas
tax returns
I am executrix of my father's estate and trustee of the trust set up after my mother's death - she died before my father. Which tax returns do I need to file for all entities? Those entities being: my father up to his date of death; the estate from date of death to 12/31; and, the trust.
2 Answers from Attorneys
Re: tax returns
If each of those entities had income, then income tax reports will have to be filed. You didn't indicate whether your father left a taxable estate, in which case gift and estate taxes would have to be filed if his estate was over $1 MM.
Re: tax returns
This question depends on the estate and it should be addressed to a CPA as well. Please find your self a good accountant and obtain his or her advice. It will be worth it weight in gold...don't be penny wise and pound foolish. Best of luck.
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