Schultz & Associates, provides accounting firm estate and trust tax services to individuals, families, and fiduciaries. These services are designed to help with the financial and tax aspects of trust administration, estate planning, and wealth transfer.
Estate Planning and Strategy
- Wealth Transfer Planning: Helping clients organize the financial aspects of wealth transfer to ensure efficient tax strategies and proper asset allocation.
- Tax Optimization Strategies: Structuring estates and trusts to minimize exposure to estate taxes, gift taxes, and generation-skipping transfer (GST) taxes.
Trust Asset Valuation
- Valuing Assets: Helping clients understand the need for accurate valuations for a range of assets (e.g., real estate, business interests, collectibles).
- Support for Compliance: Accurate asset values ensure alignment with tax filings and compliance with federal and state tax regulations.
Tax Compliance and Filing
- Preparation of Tax Returns: Filing federal and state estate tax returns Form 1041 and Form 709 in compliance with IRS and state laws.
- State-Specific Tax Filing: Our Firm is familiar with the EPIC accounting rules, which govern estates and trusts in Michigan. This includes ensuring compliance with Michigan’s probate and estate tax regulations.
- Ongoing Trust Tax Returns: Preparing income tax returns for trusts (e.g., Form 1041) and advising on how to allocate income and deductions to beneficiaries or to the trust itself.
Trust Administration and Distribution
- Distributing Trust Assets: Advising fiduciaries on proper tax efficient distributions of trust assets to beneficiaries.
- Tracking and Managing Trust Assets: Assisting trustees with managing assets, preparing required financial reports, and ensuring that distributions follow the trust’s directives.
Our Core Service Offering
Our CPA firm specializes in tax and accounting services related to estate and trust planning, administration, and compliance. We offer practical, tax-efficient strategies to:
- Preserve wealth
- Minimize tax exposure
- Streamline estate administration and trust reporting
- Ensure compliance with federal and Michigan-specific tax laws
Our approach combines strategic planning, tax compliance, and financial reporting expertise to deliver comprehensive solutions for trusts, estates, and succession planning.
Melissa Lynch, our Senior Accountant, is Ready to Help with Your Estate and Trust Tax Services and Accounting Needs
Melissa is ready to assist you with your Estate and Trust tax services and accounting needs. Please click here to see her bio and get in touch with her. You can reach Melissa either by phone (734) 354-2380 ext. 109 or by email at mlynch@schultz-cpa.com.