Estate Administration
Our officers are experienced in the many aspects of estate administration, including:
- The identification, valuation, and safeguarding of assets, both liquid and illiquid
- Raising cash for the payment of all expenses including taxes, and distribution of assets in accordance with the will
- Expertise in the preparation of all appropriate tax returns
- Providing post mortem tax planning and reporting, including Final Account of Estate for court filing
Simply appointing an executor for an estate is no guarantee of smooth sailing. Recently, for example, the sudden death of an executor, who was to continue as trustee, precipitated a crisis. The estate was found in disarray, no successor had been named, and the disbursement of funds had been delayed. After a court proceeding, Pennsylvania Trust was appointed as trustee.
Through painstaking reconstruction of the estate from brokerage statements and miscellaneous and often incomplete documents, we were able to prepare an accounting, construct specific trusts for a daughter and grandchildren, and arrange for distributions for tuition payments. Thus, the original intent of the will was preserved and the heirs received their rightful legacy.