Estate Tax Return (706) Preparation
Here is an outline of the information required to complete an Estate Tax Return (Form 706). Through this process and otherwise, is your Executor and family in possession of the information they will need to get through this difficult process?
General Considerations
List of Assets
List of Liabilities
Lifetime Gifts
Gift Tax Returns
Death Certificate
Letters of Office
Open Audits
Protective Claims
Excluded Life Insurance
- On Decedent
- On Others
Property Interests
- Direct Ownership
- Joint Tenancy, Right of Survivorship, etc.
- Indirect (e.g., LLC, FLP, etc.)
- Applicable discounts and valuations
Trusts
- Created by Decedent
- Decedent as Trustee
- Decedent as Beneficiary
- General or Limited Powers of Appointment
Foreign Accounts - Signature or Other Authority
Annuities
Schedules
- Schedule A - Real Estate
- Schedule B - Stocks & Bonds
- Schedule C - Mortgages, Notes & Cash
- Schedule D - Insurance on Decedent's Life
- Schedule E - Jointly Owned Property
- Schedule F - Other Miscellaneous Property
- Schedule G - Transfers During Decedent's Life
- Schedule H - Powers of Appointment
- Schedule I - Annuities
- Schedule J - Funeral & Administrative Expenses
- Schedule K - Debts of Decedent, Mortgages, & Liens
- Schedule L - Losses During Administration
- Schedule M - Bequests to Surviving Spouse
- Schedule O - Charitable, Public & Similar Gifts, & Bequests
- Schedule P - Credit for Foreign Death Taxes
- Schedule R - Generation Skipping Transfer Tax
- Schedule U - Qualified Conservation Easement Exclusion
