CPA for Estate Recommendation Needed

[Mary]

I’ve not said a whole lot about what has been going on since my brother passed. There have been a lot of issues stemming from his death, that no one expects, or realizes, until they are in the middle of it. Just getting the cause was difficult enough... but, now that we have that...I am in a whole other area of turmoil.

I am at the point I need some help / recommendation.

Are any of you guys a CPA that could advise me on some issues I am having with my brother's estate regarding tax issues.....or can anyone recommend someone that I can get some advice from in the Houston area? I need some solid advice on how to proceed from someone in the know on these matters. Not looking for a freebie...just someone who is knowledgeable and can help me figure out what I "should" do.

Mom and I are co-administers of my brother's estate through probate court, but because he did not have a will OR a beneficiary on his 401K....it has become a headache of a situation that appears to be a terrible tax issue.

If any of you are in this line of work, or can recommend someone, please let me know. I need someone solid that excels in the field as this is not a simple issue since it involves myself and mom, who is retired (which adds a whole other element).



AND...if any of you don't have a will....please consider getting one for your family's sake! Don’t let me stop at requesting you get a will….you also need to make sure you have a beneficiary on everything, AS WELL AS a list of assets for your spouse, child, or whoever you intend to leave everything to. Tomorrow is never a given, please don’t leave your family with all the unknowns to sift through.

[SaltwaterSlick]

I’ve not said a whole lot about what has been going on since my brother passed. There have been a lot of issues stemming from his death, that no one expects, or realizes, until they are in the middle of it. Just getting the cause was difficult enough... but, now that we have that...I am in a whole other area of turmoil.

I am at the point I need some help / recommendation.

Are any of you guys a CPA that could advise me on some issues I am having with my brother's estate regarding tax issues.....or can anyone recommend someone that I can get some advice from in the Houston area? I need some solid advice on how to proceed from someone in the know on these matters. Not looking for a freebie...just someone who is knowledgeable and can help me figure out what I "should" do.

Mom and I are co-administers of my brother's estate through probate court, but because he did not have a will OR a beneficiary on his 401K....it has become a headache of a situation that appears to be a terrible tax issue.

If any of you are in this line of work, or can recommend someone, please let me know. I need someone solid that excels in the field as this is not a simple issue since it involves myself and mom, who is retired (which adds a whole other element).



AND...if any of you don't have a will....please consider getting one for your family's sake! Don’t let me stop at requesting you get a will….you also need to make sure you have a beneficiary on everything, AS WELL AS a list of assets for your spouse, child, or whoever you intend to leave everything to. Tomorrow is never a given, please don’t leave your family with all the unknowns to sift through.

This bold part about the 401K is STILL an open issue left over from my son's death back in 2013!! It's a terrible mess!


And I second/third or whatever power it needs to be to encourage everyone to take care of your wishes NOW!! Please don't leave this as a burden to your family!!

[Change Up]

Just finished up on my dads stuff. Well most of it. You are so right about the bold statement. He left us with some many unanswered questions and some banking issues that are unbelievable now on to the two 401 he has which I think we are in the final leg of. . I will get my guys name that help us with the estate. I am on the NW side of Houston is that ok.?

[Shane]

I'm so sorry y'all are dealing with this, Mary. I know it's stressful. I just got off of a couple calls with some family members of a client of mine who passed away without a will. It's definitely an ordeal. I can probably answer most of your questions if you want to give me a call. Sent you a PM with my number if you need it.

[Huntingfool]

Mary I do not have a specific suggestion on an attorney but it needs to be one who specializes in estate planning. Many attorneys will take you money and then try to figure out the answers. Find one who does this every day and if board certified in estate planning - it will be worth the money.

I have had an insurance/financial planning business for 40 years. I helped many of my clients after a death occurs. Here is what I learned.

Do your family a favor. Make a list of where all your investments, accounts, will, etc are located. Put it all into a folder where your loved ones can find it and can easily find all of your account numbers, etc. Have a Power of Attorney so that those left behind can conduct business after you are gone. Bottom line take care of your business ahead of time. Also update your information once per year. Last of all make SURE you have the proper beneficiary designations on ANY money you have - IRAs, HSAs, etc etc.

There is nothing worse than losing a loved one and then being faced with trying to untangle their financial life while you are still grieving.

In closing - everybody has a will whether they realize it or not. If you die without a written will the state "provides" a will for you. It is called dying intestate - usually not a pretty outcome

[curtintex]

Mary, Give Shelton a call if you still have his number. Not his specialty, but he'll know who to call in our area. Good luck and so sorry that you are having to deal with this.

[Mary]

This bold part about the 401K is STILL an open issue left over from my son's death back in 2013!! It's a terrible mess!


And I second/third or whatever power it needs to be to encourage everyone to take care of your wishes NOW!! Please don't leave this as a burden to your family!!

Sorry Charlie, I feel for y'all! I'll let you know what I find out after I get this settled....maybe it can be of help to you.

Just finished up on my dads stuff. Well most of it. You are so right about the bold statement. He left us with some many unanswered questions and some banking issues that are unbelievable now on to the two 401 he has which I think we are in the final leg of. . I will get my guys name that help us with the estate. I am on the NW side of Houston is that ok.?

Thank you....going to contact Shane and then go from there. Appreciate the response!

I'm so sorry y'all are dealing with this, Mary. I know it's stressful. I just got off of a couple calls with some family members of a client of mine who passed away without a will. It's definitely an ordeal. I can probably answer most of your questions if you want to give me a call. Sent you a PM with my number if you need it.

Shane.....will call you tomorrow.

Mary I do not have a specific suggestion on an attorney but it needs to be one who specializes in estate planning. Many attorneys will take you money and then try to figure out the answers. Find one who does this every day and if board certified in estate planning - it will be worth the money.

I have had an insurance/financial planning business for 40 years. I helped many of my clients after a death occurs. Here is what I learned.

Do your family a favor. Make a list of where all your investments, accounts, will, etc are located. Put it all into a folder where your loved ones can find it and can easily find all of your account numbers, etc. Have a Power of Attorney so that those left behind can conduct business after you are gone. Bottom line take care of your business ahead of time. Also update your information once per year. Last of all make SURE you have the proper beneficiary designations on ANY money you have - IRAs, HSAs, etc etc.

There is nothing worse than losing a loved one and then being faced with trying to untangle their financial life while you are still grieving.

In closing - everybody has a will whether they realize it or not. If you die without a written will the state "provides" a will for you. It is called dying intestate - usually not a pretty outcome

This is true...and if you are fortunate to not have a disagreement with who it is left to, that is great. But, even with that....tax issues can be pretty severe for those left behing....especially if they are retired.

Mary, Give Shelton a call if you still have his number. Not his specialty, but he'll know who to call in our area. Good luck and so sorry that you are having to deal with this.

Are you kidding, I would not loose Shelton's number for anything. Thank you....I didn't even think about that. I am calling Shane tomorrow. If I am still lost, I will contact Shelton. So appreciate y'all!

[Shane]

Mary I do not have a specific suggestion on an attorney but it needs to be one who specializes in estate planning. Many attorneys will take you money and then try to figure out the answers. Find one who does this every day and if board certified in estate planning - it will be worth the money.

I have had an insurance/financial planning business for 40 years. I helped many of my clients after a death occurs. Here is what I learned.

Do your family a favor. Make a list of where all your investments, accounts, will, etc are located. Put it all into a folder where your loved ones can find it and can easily find all of your account numbers, etc. Have a Power of Attorney so that those left behind can conduct business after you are gone. Bottom line take care of your business ahead of time. Also update your information once per year. Last of all make SURE you have the proper beneficiary designations on ANY money you have - IRAs, HSAs, etc etc.

There is nothing worse than losing a loved one and then being faced with trying to untangle their financial life while you are still grieving.

In closing - everybody has a will whether they realize it or not. If you die without a written will the state "provides" a will for you. It is called dying intestate - usually not a pretty outcome

Good info, except POA ends at death. Executor of will, trustee of trust, and/or estate administrator takes over managing/settling things.

[Huntingfool]

Good info, except POA ends at death. Executor of will, trustee of trust, and/or estate administrator takes over managing/settling things.

You are correct - my intention was to warn folks about having a POA - is huge if spouse becomes incapacitated -

[Shane]

You are correct - my intention was to warn folks about having a POA - is huge if spouse becomes incapacitated -

Yes sir. Everybody needs one, married or not. It sure can be a mess if incapacity strikes and there's no durable POA.

[Smart]

Am I remembering right that TBHer Grayson is an estate attorney?

[Huntindad]

I think Shane and others will get you squared away. I don't have any advice other than prayers...

Been waiting for life events to sort out(wayward kid) before getting a will done. This reminds me to get it done...soon. Thank you.

[Burnadell]

Am I remembering right that TBHer Grayson is an estate attorney?

Yes, he is.

[Mary]

Am I remembering right that TBHer Grayson is an estate attorney?

I have an estate attorney that has served me very well. I need an estate related CPA that can advise me on tax issues with the estate....specifically 401K related.

Calling Shane tomorrow....with hopes he can point me in the right direction on moving forward.

Thanks all.

[Michael]

Sorry you're having to deal with this. I feel your pain regarding family passing without a will.