Probate
It is often said that “nothing is certain except death and taxes.” Probate often is at the crossroads of both. Probate is the court process to gather up all the property owned by a deceased loved one at the time of their death, paying off creditors, and distributing the residual property to family members and other beneficiaries.
One of the biggest misconceptions is that probate will be avoided by having a will. Since a will is simply instructions to the court for how to distribute a deceased loved one’s property, it does nothing to avoid having to go to the courts to retitle assets in the probate process.
Elliot can assist your family through the probate process, handling creditor claims, and filing necessary tax documents.
Trust Administration
Trusts come in many different types with different responsibilities and circumstances. Often trusts are revocable living trusts set up to avoid probate and plan for incapacity. Some trusts are much more complex and set up for additional purposes, such as asset protection, tax planning, or charitable purposes. Elliot works hard to understand all the unique pieces of a trust arrangement so that he can fully assist trustees in understanding their role and responsibilities.
Elliot Smith is a licensed attorney and certified public accountant that can take care of your business needs. Whether you’re opening a new business, incorporating, or looking for tax services, Elliot Smith has the resources to serve you.