TRUSTS & ESTATES

We specialize in developing strategic tax plans for trusts and estates to ensure that your wealth is transferred efficiently and in accordance with your wishes. Our team helps identify tax-saving opportunities, including exemptions, deductions, and credits, to minimize estate and trust taxes. We provide personalized advice on how to structure trusts for tax efficiency, whether for charitable giving, asset protection, or generational wealth transfer. Our goal is to help you navigate complex tax regulations, reduce your tax burden, and preserve more of your estate for future generations.

Applied Accountancy offers comprehensive estate and trust compliance services to ensure that all filings, including estate tax returns (Form 706) and trust income tax returns (Form 1041), are completed accurately and on time. Our experts ensure compliance with local, state, and federal tax laws while advising on any potential tax liabilities. We also guide trustees and executors through the filing process, helping them understand their fiduciary responsibilities. With our support, you can mitigate the risk of penalties and interest while ensuring that all assets are properly reported and managed.

Transferring wealth to the next generation can be a complex process, especially when considering potential estate and inheritance taxes. At Applied Accountancy, we specialize in minimizing estate and inheritance taxes through advanced planning strategies, including lifetime gifting, charitable giving, and the use of trusts. Our team helps you identify opportunities to reduce the taxable estate and maximize the assets passed on to your heirs. We also provide guidance on tax-efficient strategies for business succession planning, ensuring that your estate plan aligns with your overall financial objectives while minimizing tax liabilities.

Trustees carry significant responsibility, and Applied Accountancy is here to ensure that the fiduciary duties are met with expertise and accuracy. Our team assists with the proper administration of trusts, ensuring that assets are managed according to the trust’s terms and that all tax filings are accurate and timely. We provide trustees with ongoing guidance on tax implications, investment decisions, and distributions. Additionally, we help navigate complex situations such as family disputes or beneficiary concerns, ensuring that the trust is administered efficiently, in compliance with legal requirements, and in the best interests of the beneficiaries.

Generation-skipping trusts (GSTs) are powerful estate planning tools that can help preserve wealth across multiple generations. At Applied Accountancy, we specialize in advising clients on the tax implications of GSTs and how to structure them for maximum tax efficiency. Our team works with you to navigate GST tax exemptions, ensure proper reporting, and develop strategies that minimize GST taxes while maintaining control over how assets are passed down. We provide tailored solutions that align with your family’s goals and help preserve wealth for future generations, all while minimizing tax exposure and enhancing legacy planning.

In the age of digital assets, proper planning is crucial to ensure that your digital wealth is managed and transferred effectively. Applied Accountancy specializes in digital asset planning, helping clients navigate the complexities of cryptocurrency holdings, NFTs, digital wallets, and other emerging assets. Our team works with you to integrate digital assets into your estate plan, ensuring they are properly valued, accounted for, and protected. We provide tax-efficient strategies to manage capital gains, inheritance taxes, and reporting requirements related to digital assets. Additionally, we help establish secure methods for transferring these assets to heirs, ensuring that your digital legacy is passed on seamlessly while minimizing tax liabilities and complying with regulatory requirements.

Our International Trust & Estate Planning service helps high-net-worth individuals and families manage their cross-border assets and plan for succession across multiple jurisdictions. We assist clients with structuring international trusts, creating estate plans that comply with foreign tax laws, and ensuring smooth asset transfer in different countries. Our team has expertise in navigating complex tax treaties, inheritance laws, and multi-jurisdictional issues to ensure that clients’ estates are properly administered worldwide. Whether you’re an expatriate, own property abroad, or have beneficiaries in different countries, we help optimize tax efficiency and protect assets across borders. Our goal is to provide a cohesive, global strategy that ensures your estate plan works seamlessly no matter where you or your assets are located.

Charitable trusts provide an effective means of giving while also offering significant tax advantages. At Applied Accountancy, we assist clients in structuring charitable remainder trusts (CRTs), charitable lead trusts (CLTs), and other giving strategies that align with both their philanthropic and financial goals. These strategies not only allow you to support causes you care about but also offer opportunities for tax deductions, income splitting, and estate tax reduction. Our team helps you navigate the complexities of charitable giving, ensuring that your donations are tax-efficient and your charitable goals are met.

In complex estate and trust matters, disputes can arise that may require expert guidance. Applied Accountancy offers litigation support for clients involved in trust and estate disputes, providing forensic accounting and expert testimony in legal proceedings. Our team helps with the analysis of financial records, identifies discrepancies or inconsistencies in trust administration, and provides critical insights into tax implications. Whether you are dealing with beneficiary disputes, trustee conflicts, or issues related to tax liabilities, our firm offers professional support to help resolve disputes and ensure that your interests are represented in court.

After a loved one’s passing, it’s crucial to address post-mortem tax planning to minimize taxes on the estate and optimize the distribution of assets. Applied Accountancy helps executors and beneficiaries navigate the complex process of estate tax filings, including the strategic liquidation of assets, making use of deductions, and managing carryovers of tax attributes. Our team analyzes the estate’s tax position and provides actionable strategies to reduce potential estate taxes and other post-mortem liabilities. With our guidance, we ensure that the estate’s assets are distributed as efficiently as possible, preserving value for heirs and minimizing the tax burden.