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March 3, 2024
Question

I've just finished my father's estate's final 1041. Should I file Form 56 and terminate the fiduciary relationship or just leave it open?

  • March 3, 2024
  • 2 replies
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All assets have been distributed.

2 replies

March 3, 2024
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March 3, 2024
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March 3, 2024

Thank you for taking the time to respond and for replying so quickly. There's really nothing left to do on the estate. I'm the sole beneficiary as well as being the administrator, so I'm not likely to object to how the assets were handled. It was all very straightforward. The probate attorney seemed to feel that it was fine just to tuck the Form 56 in with the final return, but I'm a bit reluctant to do that, since it would seem to leave the estate without anyone to speak for it, should the IRS raise a question about anything. Presumably, it would also eliminate the mailing address for any correspondence. I took a quick look at 5495, but that doesn't seem to apply. Hopefully, it isn't required. One thing I've learned in the last couple of years is why my father swore by TurboTax. I can't imagine trying to wade through all of that without it.

 

March 3, 2024
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