Trust and Estate Tax Returns

Tax Returns Even When You Die?  As Executor or Successor Trustee you may be responsible for filing tax returns for the decedent and the estate or trust. Income Tax Returns Often a final 1040 personal income tax return, and a State version, is required to report income and expenses up to the date of death. A 1041 Fiduciary Income Tax Return, along with the State
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Categories: TRUSTS, ESTATES & FIDUCIARIES.

Advisory Services to Trustees and Executors

Have you been named a Successor Trustee or Executor for a loved one who has recently passed on?  If so, it is important that you understand your role and the responsibilities that you have. California law requires you, as successor trustee or executor, to take specific legal steps in carrying out your fiduciary duties.  If the estate contains items of substantial value, such as a
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Categories: TRUSTS, ESTATES & FIDUCIARIES.

What to Look for in a Professional In-Home Caregiver Company

When the time is right to hire a professional caregiver, look for a company who provides quality personnel who are more than mere sitters or health personnel. The best caregivers provide mental stimulation to the senior by transforming daily routine into interactive activities. This type of interaction by the caregiver helps to increase the senior’s health and sense of wellbeing. Mental exercise should be an
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Categories: SENIOR & AGING ISSUES.

Veterans Aid and Attendance

If you are a war-time veteran or widow of a war-time veteran, you may qualify for a tax-free benefit to help you pay for the cost of long term care, such as the cost of independent, assisted living or in-home care. The benefit is the VA Non-Service Connected Aid & Attendance Pension, established in 1954 under section 38 USC to assist qualified veterans (and their
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Categories: SENIOR & AGING ISSUES.

Geriatric Care Management

Often we are working with seniors regarding tax or estate issues when their health begins to decline. At that point it is important to bring in a geriatric care manager to do an assessment and develop a short-range plan, as well as, a long-range plan to help our senior clients remain in their home longer, if that is an option. The short range plan may
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Categories: SENIOR & AGING ISSUES.

Understanding the Aging Process

We understand the unique needs of seniors and the issues associated with aging.   Our diverse team of advisors can be a resource and offer solutions for the extended family and the Care¬giver Community regarding the ever-changing rules affecting seniors, their assets and their quality of life.  We are an advocate for our senior clients, providing information to help them cope with the aging process and
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Categories: SENIOR & AGING ISSUES.

Understanding the Aging Process

We understand the unique needs of seniors and the issues associated with aging.   Our diverse team of advisors can be a resource and offer solutions for the extended family and the Care¬giver Community regarding the ever-changing rules affecting seniors, their assets and their quality of life.  We are an advocate for our senior clients, providing information to help them cope with the aging process and
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Categories: SENIOR & AGING ISSUES.

IRS Appeals Process

When we cannot agree with an IRS auditor, or come to a satisfactory conclusion in an audit, and have exhausted all hearings at the group manager level; then we will refuse to settle and will inform the auditor of our intent to appeal the case.  We will then move the audit to the Office of Appeals. The appeals process is often needed because many IRS
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Categories: IRS PROBLEMS.

Offer In Compromise

Did you know that you may be able to settle your debt with the IRS for a fraction of what you owe?  The IRS Offer in Compromise program allows taxpayers to settle with the IRS on tax debt that has been incorrectly assessed or for liabilities they cannot afford to pay. The IRS Code states: “We will accept an Offer in Compromise when it is
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Categories: IRS PROBLEMS.