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Distribution of Assets

Urbach & Avraham provides Estate Administration

Allocation and Distribution of Assets

Who gets which asset? Who pays the estate tax?

These are excellent questions. We, at U&A, can work with you to review the will and determine which beneficiary pays the estate or inheritance tax. We can advise you about which beneficiary should receive which asset. Which assets should we sell? Which assets should we transfer in kind? Some assets went down in value since Dad passed away and some went up in value! How do I allocate the assets to the heirs? What do I do with the vehicle? There is no money left in the estate to pay the estate tax! What should I do with Dad’s house? When do we transfer the retirement accounts? Will the withdrawals be taxable? When administering the estate of a relative, a myriad of questions arise. We can work with you and your family to explain the tax and accounting ramifications of each asset. There are always emotional aspects of distributing the assets of a loved one. We can address these issues and consult with your attorney when necessary.

Funding Testamentary Trusts

What about Mom? Which assets go into the trust for Mom?

When handling the administration of the estate of the first parent to die, we must provide for the surviving parent. Which assets should go into the Unified Credit Trust set up for Mom? Which assets should we transfer into the Marital Trust? Which assets should Mom disclaim? These questions have serious financial and tax ramifications. We can work with you and your attorney to explain the possibilities and the financial ramifications.

The allocation and distribution of assets may be the most complicated step of the administration of an estate. It is also the source of many lawsuits. The distribution of assets has many financial and tax issues involved. Please call for a free consultation to discuss how we can guide you through the distributions of the assets to beneficiaries.