This is the best overview of this process I have ever found.
@absolutetrustcounsel
Жыл бұрын
Gosh, thank you so much Slim Dawg!
@maryharris2553
Жыл бұрын
do you have to file 1041 return
@absolutetrustcounsel
Жыл бұрын
@@maryharris2553 Hi Mary, This is Susie with the Absolute Trust Counsel team. Thank you for your response to our interview with Margaret Schopp. Our goal is to provide helpful information to our audience. If you'd like to reach Margaret directly, please email her at mschopp@schoppcpa.com or feel free to call her at 925-689-2200. We appreciate your support. Sincerely, Absolute Trust Counsel
@johnaweiss
10 күн бұрын
17:28 Why isn't the exemption passed from the surviving spouse to the beneficiaries?
@johnaweiss
10 күн бұрын
17:14 When Mom passed first, Dad didn't file estate return, just his own personal return. Mom's $100K IRA was transferred to Dad. That was 3 years ago. Now Dad is gone. Should the Trustee or Executor file an estate return for the year Mom passed, and each year since?
@london4080
Жыл бұрын
So helpful! Thank you for sharing this!
@absolutetrustcounsel
Жыл бұрын
Hi London4080, Gosh, thank you for your feedback!
@empowered36
2 жыл бұрын
Thank you for making this information available.
@absolutetrustcounsel
Жыл бұрын
Hi Empowered36, You're welcome! Good luck.
@johnaweiss
11 күн бұрын
6:18 How can you transfer something if you're dead? Do you mean, if it's specified in the estate planning docs? Or you mean your trustee/executor can do the transfer?
@anhnguyenghet9093
Ай бұрын
Is Roth IRA included in the calculation net estate of decedent that you enter on form 706? Thx
@absolutetrustcounsel
Ай бұрын
"Hi, Thank you for your message. This is Moses from the Absolute Trust Counsel team. We'll need to gather more information from you to answer your question. We'd happily help answer your question by providing a consultation. Feel free to call us at 925.943.2740, you can email us at info@absolutetrustcounsel.com, or schedule a discovery call to confirm how we can help you by using our calendar here: absolutetrustcounsel.com/scheduling/. We look forward to meeting you. Sincerely, Absolute Trust Counsel"
@johnaweiss
11 күн бұрын
7:07 Does that include assets which are part of a living trust?
@wakethebarbarian4577
Жыл бұрын
The IRS provides confusing guidance on the matter of filing 1041 for an estate. They indicate that if there is more than $600 in income generated between the death of the decedent and the transfer to the beneficiaries a 1041 must be filed. The IRS says absolutely nothing about the exclusion ($11.7 million). What's the real story here?
@saranbaker
Жыл бұрын
what if the other assets like retirement account, IRAs etc already had beneficiaries and were paid directly to them?
@williams850
Жыл бұрын
Hello Saran how are you doing today?
@lisamongelli6733
Жыл бұрын
Thank you so much u were a great help and I will be getting I. Touch..
@williams850
Жыл бұрын
Hello Lisa how are you doing today?
@saranbaker
Жыл бұрын
I scheduled an appointment. I need help. LOL
@absolutetrustcounsel
Жыл бұрын
Hi Saran, thank you for your recent messages. This is Kara with the Absolute Trust Counsel team. I'm glad you made an appointment, we would love to help. Please feel free to contact our office directly by calling 925.943.2740 or emailing info@absolutetrustcounsel.com. You may also reach Margaret Schopp by calling 925.689.2200 or emailing info@schoppcpa.com. We look forward to hearing from you. Sincerely, ATC
@saranbaker
Жыл бұрын
@@absolutetrustcounsel thanks. My estate in in NY and I was told you do not help in NY
@absolutetrustcounsel
Жыл бұрын
@@saranbaker Hi Saran, thank you for your message. This Kara again with Absolute Trust Counsel. If you are a non-resident of California state, we cannot advise you. However, if you would like a referral to an Estate Planning Attorney in New York, please call us at 925.943.2740 or email your referral request to info@absolutetrustcounsel.com. Please let me know if there is anything else I can do to assist you. Best wishes, ATC
@alwaysatthefair
4 ай бұрын
how long after death is portability allowed to be filed?
@absolutetrustcounsel
4 ай бұрын
Hi, Thank you for your message. This is Moses from the Absolute Trust Counsel team. To answer your questions, we have to gather some additional information from you. In response to your questions, "It depends." We'd be happy to help answer your questions by providing you with a discovery call. Feel free to call us at 925.943.2740; you can email us at info@absolutetrustcounsel.com or schedule a discovery call to confirm how we can help you by using our calendar here absolutetrustcounsel.com/scheduling/. We look forward to meeting you. Sincerely, Absolute Trust Counsel
@AG-mn5jr
2 жыл бұрын
On 1041 D... what is the date entity created? I read the 51 instruction...but Is it the date of death? The only income was 27 cents from verizon 16 cents from Discover and the refund of $72.00 over payment from oxygen company BUT in New Jersey one received a NJ Homestead Rebate... Is that considered income?
@absolutetrustcounsel
2 жыл бұрын
Hi AG, this is Kara with Absolute Trust Counsel. Thank you for your response to our interview with Margaret Schopp. Our goal is to provide helpful information to our audience. If you'd like to reach Margaret directly, please email her at mschopp@schoppcpa.com or feel free to call her at 925-689-2200. We appreciate your support. Sincerely, Absolute Trust Counsel
@lisamongelli6733
Жыл бұрын
What if I just want to liquidation bc they r still using her SSN I want that to be dead to that's not right..
@lisamongelli6733
Жыл бұрын
How do I get a hold of this nice Margaret lady if I can I would really appreciate it TY...
@absolutetrustcounsel
Жыл бұрын
Hi Lisa, thank you for your message. This is Kara with the Absolute Trust Counsel team. We hope you are doing well. And, thank you for your response to our interview with Margaret Schopp. Our goal is to provide helpful information to our audience. To reach Margaret directly, you may message her via her website: www.schoppcpa.com/ You may also email her at info@schoppcpa.com or call her offices at (925) 689-2200. Thank you again for your message, we appreciate your support! If you would like to contact us for estate planning, please feel free to call us at 925.943.2740 or email us at info@absolutetrustcounsel.com. You may also schedule a free discovery call using the following link: calendly.com/absolutetrustcounsel/20min?month=2022-08. We also have many free resources on our website that may be of interest to you: www.absolutetrustcounsel.com We look forward to hearing from you. Have a great day! Sincerely, Absolute Trust Counsel
@lisamongelli6733
Жыл бұрын
@@absolutetrustcounsel look forward on our interview..
@kristichu8395
2 жыл бұрын
What if the decedent doesn't have surviving spouse and the assets are being transferred to the heirs. Do the heirs need to fire form 706?
@absolutetrustcounsel
2 жыл бұрын
Hi Kristi, this is Kara with Absolute Trust Counsel. Thank you for your response to our interview with Margaret Schopp. Our goal is to provide helpful information to our audience. If you'd like to reach Margaret directly, please email her at mschopp@schoppcpa.com or feel free to call her at 925-689-2200. We appreciate your support. Sincerely, Absolute Trust Counsel
@thrillbilly41
2 жыл бұрын
Intestate estate My dad passed August 2021. I didn't get an EIN and account until March 2022. Whatever the attorney did, it made filing for 1041 deadline as April of 2023 now? Nothing was sold from the estate in 2021 and nothing distributed. So did I need to (or should I still ) file an initial 1041 for 2021 for zero dollars? Will not having an EIN in 20201 prevent this from being filed? Will IRS reject 2022 1042 if no 2021 on file And then do I need to file another final 1041 for the this tax year to show dad's house selling while in probate to pay the debts?
@absolutetrustcounsel
2 жыл бұрын
Hi ThrillBilly, thank you for your response to our interview with Margaret Schopp. Our goal is to provide helpful information to our audience. If you'd like to reach Margaret directly, please email her at mschopp@schoppcpa.com or feel free to call her at 925-689-2200. We appreciate your support. Sincerely, Absolute Trust Counsel
@dennisjex2965
5 ай бұрын
Do i hsve to file tax return for my mothers estate if interest is paid by beneficiaries. Split 4 ways
@dennisjex2965
5 ай бұрын
Estate closed April 2023
@absolutetrustcounsel
5 ай бұрын
Hi Dennis, Thank you for your message. This is Moses from the Absolute Trust Counsel team. I'm sorry for the loss of your Mother. To answer your questions, we have to gather some additional information from you - so in response to your questions "it depends." We'd be happy to help answer your questions by providing you with a discovery call. Feel free to call us at 925.943.2740, you can email us at info@absolutetrustcounsel.com or schedule a discovery call to confirm how we can help you by using our calendar here absolutetrustcounsel.com/scheduling/. We look forward to meeting you. Sincerely, Absolute Trust Counsel
@shirleyfrench2895
3 жыл бұрын
How are trust taxes different?
@absolutetrustcounsel
2 жыл бұрын
Hi Shirley, this is Kara with Absolute Trust Counsel. Thank you for your response to our interview with Margaret Schopp. Our goal is to provide helpful information to our audience. If you'd like to reach Margaret directly, please email her at mschopp@schoppcpa.com or feel free to call her at 925-689-2200. We appreciate your support. Sincerely, Absolute Trust Counsel
@williams850
Жыл бұрын
Hello Shirley how are you doing today?
@user-fz8tj5sr1l
10 ай бұрын
Why would my family keep me out of my father's will And what happens when I moved in with my father at 2008 and mom died at 2006 my father owen his home but my father lends my brotherlaw 67thousand to buy my sister a 67 mustand now my father had a legal bank statement that I found year after his dead that was a honorable agreement that 2018 the lone was to be payed in full by then now I found out that this was never intended to back because they wanted to sell the low market but my dad told that paula don't worry u will be taken care of but I never wascause they disheriant me
@absolutetrustcounsel
10 ай бұрын
Hi Paula, I’m a representative of ATC. We hope you're doing well and appreciate your comment. I’m sorry to hear about your situation. Feel free to call us at 925.943.2740, you can email us at info@absolutetrustcounsel.com or schedule a discovery call to confirm how we can help you by using our calendar here absolutetrustcounsel.com/scheduling/ We look forward to meeting you. Sincerely, Absolute Trust Counsel
@Mr._Rick
10 ай бұрын
Just verifying that an small estate say sub 200,000 does not need to file a tax return. Also this is the second spouse dividing to 4 children.
@lenpresley8492
2 жыл бұрын
House worth 85,ooo. In wifes name, in michigan. No will. 60,ooo. Lien on house . What do i do file, or no . No children .
@absolutetrustcounsel
2 жыл бұрын
Hi Ien, this is Kara with Absolute Trust Counsel. Thank you for your response to our interview with Margaret Schopp. Our goal is to provide helpful information to our audience. If you'd like to reach Margaret directly, please email her at mschopp@schoppcpa.com or feel free to call her at 925-689-2200. We appreciate your support. Sincerely, Absolute Trust Counsel
@mml1224
2 жыл бұрын
i thumbed it and subs'd. However, i didn't see a long term or short term capital stock gain example? i know on 1040, the LT gains are zero taxes from 40 to 80k depending on filing status, any truth with that w/ estates taxes? thanks!
@absolutetrustcounsel
2 жыл бұрын
Hi MML, this is Kara with Absolute Trust Counsel. Thank you for your response to our interview with Margaret Schopp. Our goal is to provide helpful information to our audience. If you'd like to reach Margaret directly, please email her at mschopp@schoppcpa.com or feel free to call her at 925-689-2200. We appreciate your support. Sincerely, Absolute Trust Counsel
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