How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask John Elder Your Own Question

John Elder
John Elder, Estate & Elder Law
Category: Estate Law
Satisfied Customers: 4631
Experience:  Over 14 years experience in Medicaid, Estates, Trust.
18914223
Type Your Estate Law Question Here...
John Elder is online now
A new question is answered every 9 seconds

I am a beneficiary to an estate that is being controlled by

Resolved Question:

I am a beneficiary to an estate that is being controlled by a court appointed representative.
There are several real estate properties involved with the estate.
I do not believe the value of the properties exceed 1 million dollars total.

Does the trustee have to file estate tax returns for the estate until it closes?
My father passed away on October 17, 2009.

Is the trustee responsible for making sure the final federal personal income tax return has been filed?

Am I entitled to see copies of the tax returns, if they are required to be filed, as a beneficiary to the estate?
Submitted: 1 year ago.
Category: Estate Law
Expert:  John Elder replied 1 year ago.

Welcome! Thank you for your question.

The Federal Estate Tax exemption for 2009 was 3.5 million dollars. Florida only charges tax if there are assets above the exemption amount. If the estate was less than 1 million dollars, no estate tax return would be filed. An estate tax return is only filed if the assets are above the exemption amount.

 

As far as income tax returns are concerned, the executor or trustee is required to file income tax returns until the final distribution and the estate is closed. They would file form 1041. A 1041 would be required if the income earned with the trust in a year was more than $600. If a 1041 was filed and you are one of the beneficiaries of the trust then you likely would have received a document called a K-1 showing your income tax liability for any distributions made from the trust.

 

 

I cannot provide you with legal advise. I can provide you with information about the law related to your question. My answer, and any information that you can find online, should not take the place of having a detailed consultation with a lawyer in your area to advise you regarding your specific issues.

 

Please show your appreciation for my candid, accurate information by clicking VERY INFORMATIVE, OR the OR and positive feedback. You should only rate me if you are satisfied with the information I provided you. If you feel there is something more I could have done please do not rate me and click REPLY TO EXPERT.

I appreciate your question and repeat customers. You can request me by beginning your question with "Dear XXXXX..."

Thank you,

John

 

Customer: replied 1 year ago.

A trust is not involved.


 


My father died without having a will, which is why the court appointed a representative.


 


Some of the properties involved with the estate are rented.


Some not.


 


How is the income from the properties after my father's death reported?

Expert:  John Elder replied 1 year ago.
Sorry, I believed there may be a trust since you referred to a Trustee. The administrator of the estate would still report the income over $700 annual on a 1041. You would receive a K-1 for any distributions of that income to you.
Customer: replied 1 year ago.

I have not received K-1s from the court appointed representative.


As I am aware, no distributions have been made.


 


Am I, as a beneficiary, entitled to received copies of the 1041s and final personal federal income tax return filed?

Expert:  John Elder replied 1 year ago.
You are not generally entitled to receive that information as a beneficiary. You could request that information and general information about the progress of the estate administration. If you are not getting information on the progress you can file a petition with the probate court requesting the administrator be removed for failure meet their fiduciary duty to keep you informed and proceed with administration in a timely manner.
John Elder, Estate & Elder Law
Category: Estate Law
Satisfied Customers: 4631
Experience: Over 14 years experience in Medicaid, Estates, Trust.
John Elder and 3 other Estate Law Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • My husband has been driving me insane with questions regarding estate issues since his mother died. I'm not a lawyer! Thanks to JustAnswer, I was able to calm his concerns. Loretta T Illinois
< Last | Next >
  • My husband has been driving me insane with questions regarding estate issues since his mother died. I'm not a lawyer! Thanks to JustAnswer, I was able to calm his concerns. Loretta T Illinois
  • Thanks Adam!! - A very direct and understandable response - you have been a great help! Happy Customer Ellicott City, MD
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
 
 
 

Meet The Experts:

 
 
 
  • Thomas McJD

    Attorney

    Satisfied Customers:

    3076
    Wills, Trusts, Probate & other Estate Matters
< Last | Next >
  • http://ww2.justanswer.com/uploads/MC/mclemorelawyer/2011-9-21_193631_IMGP8718Version2.64x64.jpg Thomas McJD's Avatar

    Thomas McJD

    Attorney

    Satisfied Customers:

    3076
    Wills, Trusts, Probate & other Estate Matters
  • http://ww2.justanswer.com/uploads/NY/nyclawyer/2012-6-7_22011_photo66139201112041.64x64.jpg Infolawyer's Avatar

    Infolawyer

    Attorney

    Satisfied Customers:

    3781
    Licensed attorney helping individuals and businesses.
  • http://ww2.justanswer.com/uploads/BA/barristerinky/2012-6-10_22423_office.64x64.jpg Barrister's Avatar

    Barrister

    Attorney

    Satisfied Customers:

    2188
    13 yrs estate law, real estate. Wills/Trusts/Probate
  • http://ww2.justanswer.com/uploads/RA/rayanswers/2012-6-7_23346_Untitled1.64x64.jpg RayAnswers's Avatar

    RayAnswers

    Attorney

    Satisfied Customers:

    1484
    Texas lawyer for 29 years in Estate law
  • http://ww2.justanswer.com/uploads/RO/RobertJDFL/2012-6-6_175352_7538220120606.64x64.jpg RobertJDFL's Avatar

    RobertJDFL

    Attorney

    Satisfied Customers:

    1226
    Experienced in multiple areas of the law.
  • http://ww2.justanswer.com/uploads/PH/philip.simmons/2012-6-7_161915_BIGPhilipSimmons.64x64.jpg P. Simmons's Avatar

    P. Simmons

    Attorney

    Satisfied Customers:

    770
    12+ yrs. of experience including estate law.
  • http://ww2.justanswer.com/uploads/RA/ratioscripta/2012-6-13_2955_foto3.64x64.jpg Ely's Avatar

    Ely

    Counselor at Law

    Satisfied Customers:

    754
    Fully licensed attorney in Texas in private practice.