| Estate Administration Check List |
| Deceased's Name: ________________________________________________ |
| Client's Name __________________ |
Phone: ( )______ |
| Date of Death: ___________ |
Projected Value of Assets |
| Matrix of assets attached? ____ |
Gross:________ |
Net: __________ |
| Fee Basis: Hourly/Fixed (rates______________ |
Retainer:_________ |
| THINGS TO DO |
DUE DATE |
COMPLETION DATE |
| Determine if any probate proceeding in necessary. |
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| DOCUMENTS REQUIRED |
| Documentation for property held in joint names and in decedent’s name only: |
| (Documents should be the most recent available) |
| Car titles |
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| Bank statements |
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| Brokerage account statements |
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| Life insurance policies |
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| IRA statements and beneficiary designations |
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| Pension and annuities statements |
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| Stock and bond certificates |
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| Social security checks received for the month following the month of death |
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| Original receipts of funeral expenses |
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| Deeds or real property |
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| Original will |
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| Three years income tax returns |
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| Contents of safe deposit box |
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| Current addresses and social security numbers of all children |
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| Death Certificate |
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| DOCUMENTS TO DRAFT |
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| Certificate of Successor Trustee |
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| NOTICES |
| Notice to creditors |
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| If there is no surviving spouse, address change with U.S. post office (If we are serving as counsel, we prefer to receive the mail at our offices.) |
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| If there is no surviving spouse, Notice of Fiduciary Relationship, Form 56, filed with the IRS. |
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| Send appropriate notice to beneficiaries and heirs. |
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| *Any disclaimers made by beneficiaries must be made within nine months of the date of death of decedent. |
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| For accounts in joint name, notify the bank, broker, etc. of the death and direct them to place the accounts in the survivor’s name alone. This may require a death certificate. |
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| Prepare change of ownership forms, generally due 180 days after death. |
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| Notice of Death of Real Property Owner to county assessor’s office |
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| Statement of Change in Control and Ownership of Legal Entity (Form PT-100-B) to State Controller’s Office. |
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| Send Medi-Cal notice to the California Department of Health Services, due 90 days from date of death, if applicable. |
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| Contact Social Security |
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| *If the decedent receives a payment for the month following the month of death, and if the decedent had Direct Deposit, Social Security will electronically take the payment back |
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| * If a paper check is received, it must be returned |
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| *If the surviving spouse also receives Social Security, the survivor will receive the higher amount of the two checks, but only one payment. The surviving spouse must telephone Social Security at 1-800-722-1213 (Press 6 for a representative) to report his/her status as a surviving spouse and answer a few questions to update the survivor’s benefits. |
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| Retain for your records all canceled checks and bank statements for the five years prior to death. Keep these at least until a closing letter is received from the IRS if a Federal Estate Tax Return is required. |
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| INVENTORY |
| Determine if there are any cash expectancies due at the date of death, including income tax refunds, medical insurance claims, deposits or refunds due, or wages due. |
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| Obtain copies of the most recent bank account statements, certificates, passbooks, etc. For each account. This should also include cash held in a brokerage account. |
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| *If most recent statements are insufficient, request the exact principal balances and accrued interest as of date of death. |
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| *Deduct from the date of death balance of checking account all checks written but not cleared. |
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| Arrange for safekeeping of any assets at risk (personal property). |
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| Locate and inventory contents of all safe deposit boxes belonging to decedent. |
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| Determine if there are any outstanding liabilities of decedent. |
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| * Determine date of death balance on any deeds of trust and notes. |
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| * Inventory and value other encumbrances of record (judgment liens, tax liens, lis pendens, etc.) Determine if any action is required at death. |
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| Determine date of death balance on any deeds of trust and notes. |
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| Inventory and value other encumbrances of record (judgment liens, tax liens, lis pendens, etc.) Determine if any action is required at death. |
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| If there is question as to title of real property, determine in what name it is held. |
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| Disclaimers |
| Any disclaimers made by beneficiaries must be made within nine months of the date of death of decedent. |
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| BANKS |
| Open a separate bank account for receipts and disbursements related to the estate. |
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| Find out if decedent was a general partner of any partnerships. There may be decisions to be made in regards to the continuation of the partnership. |
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| § File form 1065 partnership I.R.C. § 754 election (partnership return) due 12/31, if applicable. |
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| For accounts in joint name, notify the bank, broker, etc. of the death and direct them to place the accounts in the survivor’s name alone. |
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| TAXES |
| Pay any remaining property tax installment payments, due 4/10 and 12/10, if applicable. |
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| File final personal income tax returns and pay any taxes owing, form 1040/540, (due 4/15 or later if an extension was applied for and granted). |
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| § Apply for an extension if necessary. |
| File estate tax returns if applicable, form 706/ET-1. (This will depend on the amount of the estate and the year of decedent’s death.) |
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| If there will be a Federal Estate Tax Return (estate valued over $2,000,000) we can arrange for: |
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| Appraisal of home |
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| Appraisal of decedent’s joint or solely-owned personal property (Home’s contents, automobiles, boats, etc.) |
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| Return is due 9 months following the date of death. |
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| Determine if an alternate valuation date should be used instead of the date of death. |
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| File California estate tax returns, California ET-1. |
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| File fiduciary income tax returns, form 1041/541 (due 4/15 or later if an extension was applied for and granted). |
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| If there is a surviving spouse, arrange for any IRA’s held by decedent to rollover. |
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| Take all necessary measures provided under federal and state law to collect reimbursement of taxes from responsible parties. |
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| Determine if decedent made any gifts after 1976 (for tax purposes). |
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| Prepare and submit an application for discharge of personal liability of executor for payment of tax, under I.R.C. § 2204. |
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| Apply for a Qualified S Corp trust election, if applicable (60 days – 2 years from date of death). |
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| Find out if decedent held any stock as part of an employee stock ownership plan or ESOP. |
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| Discuss compensation that will be paid to the executor of the estate and the required associated record keeping. |
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| Determine when the first trust accounting is due, if applicable. |
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| If there is no surviving spouse, Notice of Fiduciary Relationship, Form 56, filed with the IRS. |
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| Determine if there are any tax refunds owing to decedent. |
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| Determine if the terms of the trust allocate payment of taxes. |
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| If there is a surviving spouse, arrange for any IRA’s held by decedent to rollover. |
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| Take all necessary measures provided under federal and state law to collect reimbursement of taxes from responsible parties. |
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| OTHER ISSUES |
| Find out if there are any issues with real property belonging to the decedent. |
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| § Toxic waste issues? |
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| § Outstanding options or escrows? |
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| § Any guarantees or foreclosures? |
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| If there are any pending foreclosures or defaults, determine what immediate and long-term steps are required to protect equity. |
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| Statement of Change in Control and Ownership of Legal Entity (Form PT-100-B) to State Controller’s Office |
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| Determine if there are any potential causes of action including wrongful death. |
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| Assistiance with handling any claims from creditors of the decedent. |
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| Determine the amount of sufficient reserve to be held by client until a favorable closing letter is received from the court. |
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