@taxdean
I just noticed a couple of lines in your posts. One was that a CPA is preparing the final return for your parents and the other is the following sentence:
"I am most worried about doing my job correctly as the trustee (and executor) and not being subject to a lawsuit."
I have one question: Why is the CPA not preparing the 1041 for this trust?
I have one statement: Probably the quickest and most assured way to fail to do your job as trustee and executor (and be subject to a lawsuit as well) is to not use competent and qualified professionals for various tasks related to wrapping up the estate and terminating the trust (including filing state and federal tax returns, and any other required documents).
You have a fiduciary duty to use (at a bare minimum) reasonable care in performing assigned and mandatory tasks and that reasonable care standard requires employing qualified professionals for tasks that you are not qualified to handle yourself.
