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Fiduciary Accounting & Tax

Simply defined, a fiduciary is someone entrusted with a duty to act for the benefit of someone else. Potential clients may find themselves acting in a fiduciary capacity in a variety of contexts, such as a personal representative of a decedent’s estate, a trustee of a trust, a guardian of their ward, or a conservator of their protectee. Given the trust placed upon fiduciaries, the law requires that they exercise the utmost care in discharging their duties. Unfortunately, many times people serving in these capacities fail to fully appreciate their roles and responsibilities.

That’s where Cripps & Simmons, L.L.C. comes in. We have the experience and qualifications to help you properly discharge your fiduciary duties and protect you from personal exposure. In the probate or conservatorship context, we can file an accounting with the court as required by law. We can also make sure any final personal income tax return for a decedent is timely filed with the proper taxing authorities. We can advise when an estate (Form 706) or gift (Form 709) tax return is due and prepare them to be filed. If an estate or trust income tax return becomes due, we can timely prepare and file these documents as well. If you are serving as a trustee, we can help you properly report to the trust beneficiaries. If you are serving as a guardian, we can assist you in filing an annual report with the court as required by law.

Should you find yourself serving in a fiduciary role and think that you need professional guidance and assistance, please give our office a call.

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