So you surmise that I am not competent to do this myself? Just kidding!
That is a very valid comment. My parents long-time CPA also passed away recently, as did their long-time estate attorney. So, I had to hire new folks for both and the new CPA had already agreed to do my parents' final year tax return, starting around April 12th but, until one of the beneficiaries' accountants asked me about whether the estate would supply K-1s, I did not realize that I had only sent the CPA data for the personal tax return not any 1041/K-1s. So, I have notified him and I think, once I supply him the raw data so many of my questions have been about, he will get the 1041 and K-1s done in time and I will get what I get pretty close to the April 18th deadline. Perhaps the answer is to file for an extension but, I think, that means all 5, count 'em, beneficiaries will have to put filing their personal tax returns on ice, or amend them later, none of which sounds good for me. One of the other beneficiaries is actually a co-trustee and co-executor, but he is not financially savvy and did not catch this lack of advance notice either; actually it is his accountant that recently asked the question about K-1s.
I completely understand the spirit of your advice and it is a good and timely reminder. Realistically, none of these family members would sue me, but I just feel an obligation to protect their interests by being the only one who seems to have the capability of becoming semi-informed. I am disappointed in myself, believe me. There have also been many other facets of their estate, interests outside of their trusts, including bad record keeping and bills not paid by them, etc, that have consumed so much of my time, in my defense.
Thanks!
