Fiduciary Department

Tostevin Accountancy Corporation offers a wide range of services in our fiduciary department. This is an area in which we specialize. We have in-depth knowledge and experience in the areas of:

  • Estate and Gift Tax Return Preparation
  • Estate Planning
  • Fiduciary Income Tax Return Preparation
  • Court Accountings for Estates and Conservatorships
  • Fiduciary Administration and Personal Management Services

Our fiduciary department services are provided by mainly by Lynne Sexton and Fran Baca.

Estate and Gift Tax Return Preparation – We have extensive experience in the preparation of Estate and Gift tax returns. We utilize specialized software for the preparation of the tax returns and for valuations of assets. We have experience with out of state Estate and Gift tax returns, as well as with the Federal and California returns. We are experienced in working both in cooperation with attorneys and directly with individual executors and trustees in this area.

Estate Planning – We offer services over a broad spectrum in this area, from a brief review of an existing Trust Agreement, to an analysis of a complex overall estate plan. We appreciate the advantages of a “professional team” approach in this area and are experienced working with attorneys, financial planners and other professionals. We have the expertise to work with the whole gamut of estate planning vehicles, from the traditional married couple’s inter vivos trusts or probate estates to irrevocable life insurance trusts, qualified personal residence trusts, and family limited partnerships. We have worked with attorneys, charities and clients in setting up charitable remainder trusts and using other charitable gifting techniques. Additionally, we bring extensive experience and insight to the area of postmortem tax planning; from dealing with interrelated income tax / estate tax issues and elections to analyzing the funding of various trusts.

Fiduciary Income Tax Preparation – Again, we bring the advantages of specialization in the fiduciary area to tax preparation. We are experienced in the preparation of returns for probate estates, simple and complex trusts, charitable remainder annuity and unitrusts. We prepare many of these returns each year and apply our knowledge of the fine points of income tax issues in this area.

Court and other Accountings – We can provide accountings in the format required by the Court for probate estates, trusts, and conservatorships. We routinely prepare trust accountings for the use of trustees and beneficiaries.

Fiduciary Administration and Personal Management Services – We have extensive experience in assisting fiduciaries in various aspects of trust and estate administration, from educating them about the proper records to maintain to assisting them in making distributions to beneficiaries. We also provide individual “management services” tailored to the specific needs of clients. Some clients find themselves unable or unwilling to pay bills, reconcile checking accounts, or maintain the financial records needed for tax return preparation. Our fiduciary department includes a support staff to provide these services. We are happy to do as little or as much as the individual client requires, from merely doing their monthly bank reconciliation, to making all bank deposits and paying all bills for them.