Jennifer J. Daum

REPRESENTATIVE MATTERS

• Oversee the firm’s estates and guardianships from start to finish, including preparation of all probate and tax filings, accountings under the Kentucky Principal and Income Act, maintaining constant communication with clients, and dealing with asset transfer and trust funding issues with an emphasis on tax planning opportunities at each stage of the process.
• Prepare federal estate tax returns and Kentucky inheritance tax returns utilizing concepts such as portability of the deceased spouse’s unused exemption, generation-skipping transfer tax allocations, QTIP and reverse QTIP elections, alternate valuation, credit for taxes on prior transfers, special use valuation, installment payment of estate tax under §6166, disclaiming of solely and jointly owned assets, and valuation of stock options, farm assets, FLPS, LLCs, and closely-held corporations.
• Prepare and electronically file federal and state fiduciary income tax returns for estates and trusts utilizing concepts such as the separate share rule, estate tax deduction for income in respect of decedent, timing of administrative deductions, selection of fiscal year ends, 65 day rule under §663(b), combined estate/trust income tax filing under §645, tax ramifications of both fractional and pecuniary funding of A/B trusts, and planning for the 3.8% Medicare surtax that will be effective in 2013.
• Prepare federal gift tax returns, create annual gifting questionnaire for clients’ completion to efficiently procure information needed for return preparation, and maintain list of clients with gift tax filing requirements each year.
• Assist attorneys with IRS and Kentucky Revenue Cabinet audits of estate, gift, corporate and individual income tax matters, directly interacting with both the taxing authorities and clients to effectively resolve audit issues.
• Assist attorneys with the creation, funding and administration of QSSTs, ESBTs, and private foundations.
• Assist attorneys with organization and dissolution of LLCs, drafting of corporate documents including Articles of Incorporation, Operating Agreements, By-Laws, Annual Reports, Changes of Registered Agent, stock certificates, Secretary of State filings, and maintenance of corporate record books.
• Assist attorneys with estate/trust litigation cases and judgment interest computations.