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Lev, Tax Advisor
Category: Tax
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Experience:  Taxes, Immigration, Labor Relations
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Given a relatively simple estate of about $1.5 million and

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Given: a relatively simple estate of about $1.5 million and a Will in good condition: What is the average number of hours to prepare the Federal 706 form, the initial estate accounting form, and the usual documents to file an estate for probate?
Submitted: 8 years ago.
Category: Tax
Expert:  Lev replied 8 years ago.

According to instructions for the form 706 - - see page 30 - here are estimated average times.



However - the form 706 would be needed only for estates above $3,500,000 (for decedents died in 2009).


You would also need to file final tax return for the decedent and estate income tax return - form 1041.

You may need to become familiar with the IRS publication 559 -


Generally - expenses to manage the estate is between 3-5% of the estate value.

Please let me know if you need any help.


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