Our Estate Advisory Service

As a CPA firm, we work with surviving spouses, executors, and trustees to manage the key tax and financial considerations that arise after a loved one’s death.

In a typical client engagement, our work often includes:

  • Identifying and organizing a decedent’s financial assets

  • Assisting beneficiaries in taking receipt of various financial assets

  • Preparing & filing tax returns on behalf of the estate or trust

  • Develop and analyze tax planning strategies to reduce estate-related taxes

  • Coordinating with beneficiaries on the taxation of their inheritance

  • Working with Surviving Spouse to update budgets and financial plans

Questions You Might Have

  • We work with surviving spouses, non-spouse executors (ex. adult child), and trustees.

  • Settling an estate involves many tax, financial, and legal complexities that aren't always easy for executors to identify. As part of your initial free consultation, we will review the details of your loved one's estate and communicate the key tax and financial considerations that will need to be addressed as part of the estate settlement process.

  • No. We do not provide legal advice as legal advice can only be provided by a licensed attorney. We provide an executor or trustee with tax, accounting, and other financial services. We work in close coordination with the estate's attorney who will advise the executor or trustee on all legal matters.

  • Since every estate has a different level of complexity, the customary billing practice amongst CPAs and Attorneys is to charge an hourly fee for the specific services provided to an estate. However, all hourly fees are estimated and cleared with clients in advance of any work being performed.

  • The time it takes to close an estate depends on the complexity of the estate. While the affairs of some estates can be addressed in a few months time, it will generally take 12 to 24 months for an executor to address tasks such as selling real estate, filing tax returns, coordinating with various financial institutions, and finalizing distributions to beneficiaries.

  • M.K. Byrne & Co. LLC is a CPA Firm and a registered investment advisor. In addition to the estate-related services we provide to executors and trustees, we also provide Clients Age 55+ with a comprehensive suite of tax, financial planning, and investment services. If you are interested in learning more about this separate service offering, please visit www.mkbyrne.com or ask us for additional details.