Depending on what income is received by the estate and when, it might be beneficial to select a fiscal year that results in that income being split over the two of the beneficiaries' tax years, if possible. One could establish a timeline for the income and then slide a 12-month window over that to determine which month makes the most sense for the ending month of the fiscal year. With the estate not having an executor until January 2024, it's entirely possible that the estate's income to date has been low enough that the first Form 1041 required to be filed might be for a fiscal year ending in 2025, which would establish the estate's fiscal tax year.
