Estate Tax - Required Information

1-     Decedent:

a.       Social Security number / Tax ID

b.      Date of Birth

c.       Date of Death

d.      Domicile at Death

e.       Date Domicile Established

2-     Surviving Spouse and Beneficiaries:

a.       Full Name

b.      Social Security number or Tax ID

c.       Address

d.      Relation to decedent (Generation Skipping)

3-     Executor (s)

a.       Full Name

b.      Social Security number or Tax ID

c.       Address

d.      Please identify whether the executor will sign the return (if multiple executors were identified)

4-     The Gross Estate:

a.       Real Estate, required information:

                                                               i.      Description

                                                             ii.      Whether the property is particularly allocated to a certain beneficiary or is it in the pool

                                                            iii.      Type of property (community property, Qualified Family-owned Business, GST, Etc.)

                                                           iv.      Value of property at death (identify whether special use valuation applies, and whether any conversion easement applies)

                                                             v.      Date property distributed

b.      Same requirements needed for:

1.      Notes, Cash, and Mortgages

2.      Life insurance

3.      Annuity

4.      Other assets (auto, collectibles, furniture, jewelry, etc.)

c.       For jointly-owned property the information needed include:

1.      The information requirement as in item # 4-a

2.      Co-Tenant information, as in item #2

5-     Bequest to surviving Spouse:

a.       Description of property (Cash, Real Estate, Etc.)

b.      Amount

c.       Type of Property

6-     Expenses:

a.       Please identify all estate deductions including:

                                                               i.      Funeral expenses, administrative expenses

                                                             ii.      Fees: including attorney and accountants’ fee, Executors fee, etc.

                                                            iii.      Debt, Mortgages, and liens

                                                           iv.      Charitable deductions and such

 7-     Disposal of assets:

a.       Please identify:

                                                               i.      Date of sale / disposal

                                                             ii.      Value of the asset and value received in return

                                                            iii.      Expense of disposal

 8-     Gifts and Generation Skipping

a.       Description of Property

b.      Name of skip person

c.       Estate tax value

d.      For Gifts, Tax return form 709 is needed

Items to be attached to the tax return:

 The following items should be attached to Form-706 when applicable:

1.      Certified Copy of Will

2.      Death Certificate

3.      Form-712 for each life insurance policy listed on schedule-D

[ Home ] [ Up ]

Send mail to Webmaster@txcpa.net with questions or comments about this web site.
Copyright © 1998 - 20004 Richard A. Chichakli, P.C. Certified Public Accountants & Information System Auditors
Last modified: February 19, 2007