'Proper tax allocation basis' presentation slideshows

Trusts and Estates Lawyer

If you have had a loved one pass away, the property and any debts that they leave behind need to be settled. Ideally, they will have an up to date estate plan in place, which will allow everything to be handled quickly, and with very little difficulty. Unfortunately, in many situations because of lack of experience or simple ignorance, the estate or trust may be mishandled by the fiduciary (executor or trustee), assets may have been wasted or distributed incorrectly and taxes may have been allocated without proper tax allocation basis. If you are a disinherited surviving spouse, you may also have claim against the estate. If you believe that distributions came out of the trust not in the best interests of the beneficiaries or not as the trust proscribes, you may have a cause of action against the fiduciary. If your trustee or executor keeps you in the dark with respect to the trust or estate, you may compel the fiduciary to account and you will have to carefully review the accounting, once produced. If the accounting does not match your expectations or clearly shows misappropriation of assets or some mishandling of assets, you may need to file objections to the accounting.

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