The Best LegalTech for Trusts and Estates Professionals: The tech & tools that Trustate’s clients can’t stop raving about
For many years, the legal industry was not one that was thought of as a space to implement and advance technology. In fact, lawyers were often seen as “laggards” when it came to adopting technology. However, times have changed and an entire industry in and of itself has emerged – legaltech. Low adoption rates of technology seem to be a thing of the past in the legal world, as legaltech spend has been consistently increasing since 2017, and is expected to increase by threefold between now and 2025.
Trustate Unveils Revolutionary “All-in-One” Automated Estate Operations & Task Automation Platform
Trustate, the award-winning, female-founded, Tampa Bay technology company that is revolutionizing the estate administration and planning process, announced today that they have successfully launched the world’s first comprehensive, all-in-one estate operations and task completion platform geared specifically towards trusts and estates professionals. In addition to Trustate’s flagship estate administration automation tools, the company, which counts several hundred law firms and financial institutions as its clients, now provides users with the ability to manage all of their estate related needs, be it administration, planning, guardianships, and ongoing trust administration, in one easy-to-use portal.
Death and Income Taxes - Who files? How? When?
This is often a huge question mark for so many executors. As the old adage goes, the only thing certain in life are death and taxes, so yes, the deceased’s existing tax reporting & payment obligation shifts to become an obligation of the estate. This means that the legally authorized representative of the estate, i.e., the Executor, Administrator or Personal Representative, is responsible for timely filing the decedent’s income tax returns (as well as for any back-returns that the deceased failed to file during his/her lifetime), and making payments from the estate for any taxes owed.