Estate & Trust Tax Services

Clear Tax Guidance for Executors and Trustees

Being named an executor or trustee can bring responsibilities you never expected—including tax obligations that may be unfamiliar even if you've handled your own taxes for years.

Collins & Collins Tax Advisors helps executors, trustees, and families understand and manage the tax responsibilities that arise during estate and trust administration.

From a decedent's final individual income tax return to estate and trust income tax filings, we provide thoughtful tax guidance, careful preparation, and coordination with your other professional advisors when appropriate.

Schedule a Fiduciary Tax Fit Call

You Don't Have to Become a Tax Expert Because Someone Named You Executor

After a death, there can be a lot to manage at once.

You may be gathering financial records, working with an attorney, communicating with beneficiaries, managing property and investment accounts, and trying to understand what needs to happen next.

Then someone tells you the estate or trust may need a tax return.

That's where we come in.

We help you understand the tax responsibilities in front of you, what information is needed, and what steps should happen next.

How We Help Executors and Trustees

Depending on the circumstances, an estate or trust may have several different tax filing and reporting responsibilities.

Our work may include:

Final Individual Income Tax Returns

Preparation of the decedent's final Form 1040 and related state income tax returns when included within the engagement.

Estate & Trust Income Tax Returns

Preparation of Form 1041 and applicable state fiduciary income tax returns for estates and trusts.

Beneficiary Tax Reporting

Preparation and coordination of applicable beneficiary tax reporting, including Schedules K-1 associated with the fiduciary income tax return.

Ongoing Trust Tax Compliance

Annual fiduciary income tax return preparation for qualifying trusts with continuing filing obligations.

Fiduciary Tax Research

Research and analysis when an estate or trust presents a tax question requiring additional technical review.

Professional Coordination

With appropriate authorization, we can work with estate attorneys, financial advisors, and other professionals involved in the administration so that the tax work does not happen in isolation.

One Estate. Multiple Tax Responsibilities.

Estate administration doesn't always fit neatly into a single tax return.

A decedent may have a final individual income tax filing obligation while an estate or trust has a separate filing obligation of its own. Beneficiaries may also receive tax reporting related to distributions.

That's why our preferred approach is coordinated.

When appropriate, Collins & Collins can handle the decedent's final individual income tax return together with the estate or trust's fiduciary income tax filings, giving the executor or trustee one tax professional who understands the broader picture.

Is Collins & Collins the Right Fit?

We work particularly well with executors and trustees who want knowledgeable guidance but aren't looking to navigate every tax question themselves.

Our practice is intentionally selective.

We are generally a good fit when:

• You are administering an estate following the death of a family member or loved one.

• You have become responsible for an ongoing trust.

• You need assistance with a final Form 1040 and/or Form 1041.

• The estate or trust has investment, rental, or other taxable income.

• Beneficiaries may need tax reporting.

• You already have an estate attorney or financial advisor and need a tax professional to complete the team.

• You value clear explanations and responsive professional guidance.

For matters involving specialized legal, valuation, accounting, or tax issues outside the scope of our practice, we will let you know when another professional should be involved.

What to Expect

1. Fiduciary Tax Fit Call

We begin with a brief conversation to understand the estate or trust, the fiduciary's responsibilities, the tax years involved, and the assistance you are seeking.

The purpose of this call is to determine whether Collins & Collins is an appropriate fit for the engagement.

2. Define the Engagement

For relatively straightforward matters, we may be able to identify the appropriate scope and provide an engagement proposal.

If significant research or investigation is necessary before the work can be properly scoped, we may recommend a separate Fiduciary Tax Assessment.

3. Gather and Review

We'll provide guidance regarding the tax documents and information required for the engagement and review the relevant records.

4. Prepare and Coordinate

We complete the tax work included within the engagement and, when appropriate and authorized, coordinate tax matters with the estate's attorney, financial advisor, or other professionals.

5. Complete the Tax Engagement

We explain the resulting tax filings and identify any remaining tax responsibilities within the scope of our engagement so that you understand what has been completed and what may still need attention.

For Estate Attorneys and Financial Advisors

A Tax Resource for Your Clients

Estate and trust administration often requires legal, financial, and tax professionals to work together.

Collins & Collins welcomes relationships with estate-planning and probate attorneys, financial advisors, and other professionals seeking a tax resource for executors and trustees.

Our goal is to complement—not replace—the professional relationships already serving the client.

We can assist with fiduciary income tax preparation, final individual income tax returns, beneficiary tax reporting, ongoing trust compliance, and related tax research within the scope of our practice.

Professional Referral Inquiry

Frequently Asked Questions

Does an estate always need to file Form 1041?

No. Filing requirements depend on the circumstances of the estate, including its income and other factors. We can help determine what tax filings may be required as part of an appropriate engagement.

Can you prepare both the deceased person's final Form 1040 and the estate's Form 1041?

Yes. When appropriate, we prefer a coordinated engagement so we can understand the relationship between the decedent's final individual tax return and the estate or trust's fiduciary income tax filings.

Can you work with my estate attorney?

Yes. With appropriate authorization, we are comfortable coordinating with estate attorneys, financial advisors, and other professionals involved in the administration.

Do you work with ongoing trusts?

Yes. Collins & Collins provides annual tax compliance services for qualifying ongoing trusts, including Form 1041 and related state and beneficiary reporting when applicable.

Do I need to know which tax return I need before contacting you?

No. That's one of the reasons to contact us. During the intake process, we'll ask questions about the situation and determine whether the services you need fall within our practice.

Do you work with clients outside Missouri?

Our practice is designed to work remotely with clients when appropriate. State-specific filing requirements and other jurisdictional considerations are evaluated as part of determining whether we can accept a particular engagement.

Start With a Fiduciary Tax Fit Call

If you've been named executor or trustee and aren't sure what tax responsibilities come next, you don't have to figure everything out before contacting us.

Start by telling us about the estate or trust and the assistance you're looking for.

We'll determine whether Collins & Collins is the right tax resource for the situation and explain the appropriate next step.

Schedule a Fiduciary Tax Fit Call

Collins & Collins Tax Advisors

Planning Meets Precision.