Help with Probate Accounting

Are you an Estate Attorney dealing with Probate accounting problems or Estate accounting problems? Call us today at (805) 482-1715 or email us at for a no obligation, FREE 10 minute over-the-phone initial consultation you will be glad you did.

Tax filing for the deceased and estate planning can be complicated and confusing even for estate planning attorneys. Furthermore, the complexity of changing estate tax laws leads to potential liability and penalties which can be endless... so just how exactly does inheritance affect your client’s estate in terms state taxes or federal taxes? bureaucracy, probate courts, unfair appraisals, health care concerns, eligibility of heirs, life insurance, IRA's, 401K's, annuities, burial or cremation costs, and intent regarding death-postponing treatment to name a few. Not being able to keep up with the ever-shifting landscape of estate tax laws could end up costing you or your client more in the end.

Thoughts of estate tax planning often bring more tax questions than answers: Could an heir be too young to inherit? Should the inheritance be given at a certain age? Is the intended beneficiary in a shaky marriage with divorce as a very real possibility? And then there is a question whether there are possible known or unknown children from a previous marriage or a relationship? How should inheritance be protected from potential creditors of the heir from a tax planning point of view? Are there estate  taxes that can be avoided by the estate or the inheritors? Might your client able to avoid the probate court rules? what about potential delays, and costs? What about dealing with the Final 1040? Or complication with the federal state tax form 706?

Planning and what is likely to happen to your client’s estate when they're gone can seem frustrating and intimidating without qualified help.

As an estate attorney you may feel that you just don’t have enough hours in the day to keep up with the myriad of tax laws that affect your clients.

And we can help.

Every estate tax planning situation is different. In order to help your client, we want to understand your client, and develop/execute an estate tax plan unique to their individual situation. We offer discussion, recommendations and useful research to make dealing with your client’s estate tax planning issues simpler, efficient, and worry-free. We are available throughout the estate tax planning process for further discussion regarding questions, change of circumstances, and alternatives. We'll be there with you in every step you take. We can help you organize your client’s estate tax planning team; experts on tax law to derive every tax advantage provided by the latest tax laws, finance, and taxes. We collaborate with qualified estate attorneys, trustees, investment and insurance professionals. 

Together We help you...

  • Clearly define your client’s estate planning goals.
  • Organize, research, create and execute your client’s estate plan as part of your estate planning team (experts on law, finance, and taxes). 
  • Evaluate and recommend estate tax planning options.
  • Prepare, organize and review your client’s estate tax planning documents including current wills, trusts, health care directive, and power of attorney from a inheritance/estate tax planning point of view
  • We help your client decrease the problems and expenses associated with probate.
  • As members of your team we help your client lessen taxes at time of death.
  • Plan for strategic management of your client’s estate in the event  the client gets incapacitated.
  • We develop a realistic working plan for conserving and effectively managing your client‘s estate after death.
  • From a tax planning point of we help put in place a  plan to transfer the assets of your client’s estate to heirs the way you as the attorney want it.
  • We help you in advising from a tax law planning point of view how to best organize fair and adequate liquidation of estate to cover taxes and other expenses.
  • We help file or amend your clients tax estate returns as needed.

Your clients also get help with...

  • Tax advice for planning Living Wills and Trusts.
  • Tax implications for Lifetime Family Wealth Transfers.
  • Tax planning for succession strategy, family partnerships and other business relationships.
  • Tax strategy for leaving money to charities.
  • Tax Preparation for estate and trust tax problems.

Dealing with estate taxes can be daunting, but you as an estate attorney are not alone. Our team of accountants specializing with probate tax issues is waiting to assist you through every step of the way.

 Should you like to discuss about how our estate tax planning services that  help your clients, then please get in touch

Call us today at (805) 482-1715 or email us at

The Fundamentals of Probate Accounting and accounting service for Estate Planning in California

Mission Oaks Tax and Accounting specializes in assisting Trust & Estate Attorneys dealing with issues pertaining to Probate Accounting and Estate Planning. If you represent any estate in California, you are already aware that, as the trustee of an estate or a trust or an Estate Attorney, it is in your best interest to stay in compliance with specific legal /accounting requirements imposed upon you. Particularly, Probate Law Code imposes a legal duty on Probate Attorneys and Estate Attorneys to provide an accounting to the beneficiaries. There are fiduciary responsibilities that you are liable for. Which means you need to stay in compliance with any legal requirements bestowed upon you.

Probate Accounting also known as Estate Accounting or Trust Accounting is accounting undertaken by an estate during a specific reporting period. For example, Section 16062 of the California Probate Code requires trustees to provide an accounting at a minimum of once a year.


You must also submit an accounting when any trust is terminated. For example, when a trustee desires to close an estate and petition for a final distribution for a final distribution of the estate’s assets to the beneficiaries of the estate. Furthermore, an accounting is mandatory whenever there occurs a change in trustee.

Accounting format requirement for Probate & Estates

Even though California does so far has not mandated the preparation of any particular forms, however, Probate Accounting  requires the following information to be included based on Section § 16063 of the Probate Code, for example:

  • Any data pertaining to the trustee’s compensation
  • Any records pertaining to any agents employed by the trustee
  • A proper accounting at the end of the reporting period pertaining to the Trust Account or a detailed statement of assets and liabilities of the trust at the end of the trust’s last complete fiscal year
  • Any disbursements of trust income or principal as well as a statement of receipts transacted either since the last accounting was performed or during the course of the trust’s immediate last fiscal year
  • Traceability - A statement that any beneficiary could petition the probate court to obtain a review of the probate account and the trustee’s actions
  • Breach of Trust statement stipulating three-year period of limitations for all claims


Exceptions to Probate Accounting Requirement  

There are exceptions to the Probate Accounting requirement. Probate accounting requirements can be waived under certain situations:

  • When beneficiaries of the estate executed and filed a waiver of account in writing – basically a written statement acknowledging that any interest on their part in the estate has been satisfied
  • When all interests of each beneficiary of the estate has be satisfied.

Final Accounting in Probate Court

Generally speaking, in California the beneficiaries have up to three years to challenge the trustees accounting. Should anyone object in writing, you as the estate attorney or trustee need to prove that you’ve provided an accurate accounting. Estate accounting is not for the faint of heart. Therefore, you will require the services of an accountant specializes in Probate / Estate Accounting. Mission Oaks Tax and Accounting specializes in Probate and Estate Accounting.

What really occurs when there is a potential probate accounting conflict?

In most probate disputes: beneficiaries typically fail to file a timely objection and disputes over final accounting of the estate are brought up at the last moment causing frustration for the Estate Attorney or the Trustee or both. Since the limitation period stipulates three years of any beneficiary to file an action, hence an estate attorney or trustee can file for court approval of the finality of accounting under section § 1064

As a consequence,  any disgruntled beneficiary is barred from filing an objection to the accounting of the estate once the approval from probate court is received. Therefore, a knowledgeable accountant who is well versed in probate accounting and probate law is beneficial to have on your team. The team at Mission Oaks Tax and Accounting have a unique edge in that they have CPA’s who also posses a Juris Doctor degree and have the education and training from an estate accounting point of view as well as from the estate law point of view. Help yourself by having Mission Oaks Tax and Accounting complete the final accounting on time so that the trustee or you the Estate Attorney no longer face the potential liability for either mistakes made in estate accounting or for their own action as a trustee of the estate. As a result, although filing such as petition in probate court requires the services of an expert probate accountant such as Mission Oaks Tax and Accounting, it is an investment  many estate attorneys choose to take. Therefore, call Mission Oaks Tax and Accounting today at (805) 482-1715 for all your probate accounting and estate accounting needs, because you will be glad you did.

There is no arguing that probate accounting and estate planning in California  requires to expend certain amount of energy in due diligence on part of an estate attorney or the trustee of an estate, submission of periodic accounting is part of the professional responsibility of an estate attorney. Last but not the least as an estate attorney submitting of a proper accounting will be most certain required upon final distribution of the estate, however the exception being that if the correct waivers of the accounting have been obtained. Should you need assistance with your client’s probate accounting, consider calling Mission Oaks Tax and Accounting today at (805) 482-1715. Our probate accountants specializing in estate accounting are waiting to facilitate the process. 

Probate accounting Problems or Trust accounting issues? Call us today at (805) 482-1715 or email us at for a no obligation, FREE 10 minute over-the-phone initial consultation you will be glad you did.



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