When Sarah McEllistrem and her brother Tom took on the role of personal representatives for both their father Gerald and mother Marjorie’s estates, they recognized the importance of seeking out a reliable and responsive accountant to prepare the estate tax return. The estates were highly intricate, and the McEllistrem’s trusted Olsen Thielen’ s ability to navigate the complexities involved.
Throughout the process, Sarah and Tom had to coordinate with the estate attorney, Olsen Thielen as the estate accountant, and bankers. Sarah appreciated the professionalism shown by Adam Thielen and his team who worked efficiently with all parties involved. According to Sarah, “Adam and his team did an excellent job of showing sensitivity during a difficult emotional time and helping us plan ahead.”
Challenges
One of the significant challenges Olsen Thielen successfully tackled was dealing with the estate’s complexity. The estate included various trusts to interpret and had twelve beneficiaries. Managing the vast amount of capital involved in the estate and strategically moving it around to reduce the estate tax burden became complicated. Olsen Thielen’s expertise was appreciated in tracking down individual “loose stock” assets, such as stock certificates, which required diligence to ensure nothing was overlooked.
Results of the Estate Tax Return
Olsen Thielen’s support extended beyond the technical aspects of the estate tax return. They provided invaluable assistance to Sarah as the personal representative, helping with planning, timing, and communicating the next steps to the beneficiaries. This level of insight and guidance during a challenging time was invaluable to help Sarah manage the estate as effectively as possible.
The firm’s adeptness in handling complex estates, professionalism in coordinating with multiple parties, and sensitivity eased Sarah’s concerns. With probate and a significant amount of responsibility involved, Olsen Thielen’s assistance provided much-needed support during a challenging and overwhelming time.