Post-Mortem Trust Administration -- Step 1: Calendar Important Deadlines

The following is taken from "Post Mortem Trust Administration: A Checklist Approach," published by the Estate Planning, Trust and Probate Section of the California State Bar (1995), and authored by John W. Ambrecht, Frayda L. Bruton, James b. Ellis, Dibby Allan Green, John A. Hartog, Geoffrey W. Phillips, and Robert E. Temmerman, Jr. With some modifications to bring it current to January 1998, the following is a list of the initial deadlines to calendar following the death of a settlor of a trust. To obtain the full checklist which continues throughout the course of administration of the trust and estate, contact the Estate Planning, Trust and Probate Section directly.



Date(s) to Calendar

File Internal Revenue Service (IRS) Form 706, California Form ET-1, and any other state estate tax returns Due 9 months from date of death
Extensions granted (see IRS Form 4768) (a) to file Form 706 (maximum 6 months); (b) to pay tax Per date granted in the extension
Alternative valuation date ; see Internal Revenue Code (IRC) section 2032 6 months after date of death
Deadline to make a disclaimer; see IRC section 2032 9 months after date of death
Form 709 gift-GSTT (generation-skipping transfer tax) tax return due April 15th (or other extension date) in year following gift
Forms 1040/540 final personal income tax returns due April 15th (or other extension date) in year following death
Form 1041/541 fiduciary income tax returns April 15th (or other extension date) in year following the tax period
* 65-day distribution rule 65 days following December 31st
* Review trust instrument regarding requirements for distribution of income Dates specified in trust instrument for income distributions
* Estimated tax payments Applicable due dates
If a grantor trust is a shareholder Allowed for 2 years after date of death (see IRC 1361(c)(2)); qualified S corporation (QSST) election filed within 16 days and 2 months from transfer (see IRC 1361(d) and Reg. sec. 1.1361-1(j)(6)(iii)).
Form 1065 pertaining to partnership IRC sec. 754 election Due with filing of first partnership return after the year of death
Federal/state payroll tax reporting Applicable due dates (see IRS Circular E; Franchise Tax Board Form DE 44)
IRC sec. 6501(d) and California Rev & TC sec. 19517 prompt assessment of tax letters Due dates of respective returns
If trust becomes irrevocable on death of a settlor, serve statutory "Notification by Trustee" on each trust beneficiary and heir of deceased settlor (California Probate Code sec. 16061.7), effective for settlors dying after December 31, 1997. 60 days from date of death
Medi-Cal notice to California Department of Health Services (see California Probate Code sections 215, 19202) 90 days from date of death
Change in Ownership forms due:
* Notice of Death of Real Property Owner to county assessor's office
* Statement of change in Control and Ownership of Legal entity (Form PT-100-B) to State Controller's Office
150 days from date of death
Real property tax installment payments Due November 1 and February 1; delinquent after december 10 and April 10
Probate Code sec. 13100 affidavits, if needed Not sooner than 40 days after date of death
Surviving spouse individual retirement account (IRA) rollover As appropriate
Exercise of options (buy-sells, stock options, others) Respective due date of each option
Escrow closing dates Respective closing dates
First trust accounting due As appropriate
Status letters to beneficiaries As appropriate
Periodic client meetings As appropriate
Appraisals completed As appropriate
Non-citizen spouse deadlines As appropriate
Trust funding plan developed As appropriate

Reproduced with the permission of the Estate Planning, Trust and Probate Section of the California State Bar.

The contents of this publication are for information purposes only and are not meant nor should be construed to be legal advice. Note, also, the date of the document. Laws are constantly changing, and are subject to differing interpretations. We, therefore, urge you to do additional research or to contact your own legal or tax counsel before acting on the information contained herein.

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