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AMBRECHT & BRITTAIN, LLPPost-Mortem Trust Administration -- Step 1: Calendar
Important Deadlines
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Description |
Date(s) to Calendar |
| File Internal Revenue Service (IRS) Form 706, California Form ET-1, and any other state estate tax returns | Due 9 months from date of death |
| Extensions granted (see IRS Form 4768) (a) to file Form 706 (maximum 6 months); (b) to pay tax | Per date granted in the extension |
| Alternative valuation date ; see Internal Revenue Code (IRC) section 2032 | 6 months after date of death |
| Deadline to make a disclaimer; see IRC section 2032 | 9 months after date of death |
| Form 709 gift-GSTT (generation-skipping transfer tax) tax return due | April 15th (or other extension date) in year following gift |
| Forms 1040/540 final personal income tax returns due | April 15th (or other extension date) in year following death |
| Form 1041/541 fiduciary income tax returns | April 15th (or other extension date) in year following the tax period |
| * 65-day distribution rule | 65 days following December 31st |
| * Review trust instrument regarding requirements for distribution of income | Dates specified in trust instrument for income distributions |
| * Estimated tax payments | Applicable due dates |
| If a grantor trust is a shareholder | Allowed for 2 years after date of death (see IRC 1361(c)(2)); qualified S corporation (QSST) election filed within 16 days and 2 months from transfer (see IRC 1361(d) and Reg. sec. 1.1361-1(j)(6)(iii)). |
| Form 1065 pertaining to partnership IRC sec. 754 election | Due with filing of first partnership return after the year of death |
| Federal/state payroll tax reporting | Applicable due dates (see IRS Circular E; Franchise Tax Board Form DE 44) |
| IRC sec. 6501(d) and California Rev & TC sec. 19517 prompt assessment of tax letters | Due dates of respective returns |
| If trust becomes irrevocable on death of a settlor, serve statutory "Notification by Trustee" on each trust beneficiary and heir of deceased settlor (California Probate Code sec. 16061.7), effective for settlors dying after December 31, 1997. | 60 days from date of death |
| Medi-Cal notice to California Department of Health Services (see California Probate Code sections 215, 19202) | 90 days from date of death |
| Change in Ownership forms due: * Notice of Death of Real Property Owner to county assessor's office * Statement of change in Control and Ownership of Legal entity (Form PT-100-B) to State Controller's Office |
150 days from date of death |
| Real property tax installment payments | Due November 1 and February 1; delinquent after december 10 and April 10 |
| Probate Code sec. 13100 affidavits, if needed | Not sooner than 40 days after date of death |
| Surviving spouse individual retirement account (IRA) rollover | As appropriate |
| Exercise of options (buy-sells, stock options, others) | Respective due date of each option |
| Escrow closing dates | Respective closing dates |
| First trust accounting due | As appropriate |
| Status letters to beneficiaries | As appropriate |
| Periodic client meetings | As appropriate |
| Appraisals completed | As appropriate |
| Non-citizen spouse deadlines | As appropriate |
| Trust funding plan developed | As appropriate |
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Reproduced with the permission of the Estate Planning, Trust and Probate Section of the California State Bar.
The contents of this publication are for information purposes only and are not meant nor should be construed to be legal advice. Note, also, the date of the document. Laws are constantly changing, and are subject to differing interpretations. We, therefore, urge you to do additional research or to contact your own legal or tax counsel before acting on the information contained herein. |