When a loved one passes away, it can be an emotional experience. Unfortunately, handling the deceased’s finances can add to this stress. While most people know that you need to file a final tax return ...

A decedent's gross estate includes most assets and property they owned or had an interest in at death, used to calculate estate taxes. Some assets, however, may be excluded, affecting the estate's ...

Since my father passed away this past year and I am now completing his final part year 1040 individual income tax return for 2022, I thought it would be a good opportunity to discuss the filing of a ...

The following contribution is by Kristine S. Knaplund, Professor of Law at Pepperdine University School of Law in Malibu, California. Professor Knaplund has written extensively on the legal and ...

Determining the value of items left behind after a person dies can be time consuming and frustrating, especially if the decedent had a large estate. In addition to conducting your own research, hiring ...

A contentious issue in estate taxation is the valuation of stock in a closely held corporation. The fair value of such stock at the valuation date may be difficult to determine since no market ...

In Estate of Bernard J. Macelhenny, Jr. v. Commissioner, the Tax Court ruled on two separate but related issues: (1) whether the estate may properly deduct the value of two consent judgments entered ...

Q. I am executor and sole heir of my father's estate. The estate assets included mutual funds that lost $30,000 (22 percent) of value from the date of his death and their sale. The estate trust has no ...

The U.S. Court of Appeals for the Third Circuit recently held that the testamentary exception to the attorney-client privilege does “not grant the deceased client the power to waive a privilege held ...