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Hokie Koooster

Joined: 09/05/2003 Posts: 327
Likes: 256


Could use some advice...


You folks have provided great advice in the past so I thought I’d ask something else. As many of you know, I lost my 23 year old son last December as a result of a car accident. I’ve been appointed “Administrator” of his estate (he had no will obviously). He essentially has two “assets” in his estate worth mentioning: a 401k of a few thousand dollars from his summer job and a fairly significant insurance claim payout (he wasn’t driving in the accident). Now that I’m working the mechanics of his estate, I need to (1) file his taxes for last year where all he has is a W-2 from his summer job; no interest or other complications and (2) figure out his tax stuff for his estate this year with the two assets, minor expenses such as court fees and bond fee, and the tax and penalties for cashing out his IRA early. Seems pretty simple though the court said “you may want to get a CPA to help you with that”. I asked them if I needed one even though it seemed simple, and they said that I “may be able to figure it out myself. Maybe talked to the IRS”. I’ve never used a CPA because my taxes have always been pretty simple. Do they charge by the hour like a lawyer? My divorce lawyer was hundreds of dollars an hour. Do you find one in Yelp? Are there “walk-in” offices where IRS people can help advise on something like this? Can Liberty Tax help? Is there a “LegalZoom” for Virginia? I just want to get this over with – every time I touch something having to do with his estate it crushes me. Any advice would be helpful.

Posted: 08/24/2018 at 12:52PM



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Current Thread:
 
  
Could use some advice... -- Hokie Koooster 08/24/2018 12:52PM
  So very sorry ** -- LaneRat 08/24/2018 2:51PM
  Yeah, I've met with the clerk's office already -- Hokie Koooster 08/24/2018 3:08PM
  A few things (inside) -- FfxStationHokie 08/24/2018 2:31PM
  Yes/yes/yes - IRA is only about $3,500 ** -- Hokie Koooster 08/24/2018 2:35PM
  Good (inside) -- FfxStationHokie 08/24/2018 2:52PM
  I can't imagine. Sorry, Koooster ** -- HokieDiver 08/24/2018 2:23PM
  Got ya ** -- VaTechie 08/24/2018 9:15PM
  Yes. ** -- Hokieesith 08/24/2018 2:29PM
  Who was the beneficiary of the 401k? ** -- CPRVHokie 08/24/2018 2:38PM
  There wasn't one designated ** -- Hokie Koooster 08/24/2018 2:43PM
  Is the insurance payout payable to his estate? ** -- CPRVHokie 08/24/2018 2:56PM
  Looks like you will need to file an estate return. ** -- Hokieesith 08/24/2018 3:14PM
  Aaaaaaand we’re back where we started. ** -- CPRVHokie 08/24/2018 7:00PM
  Kind of. Needs to be done in steps. -- Hokieesith 08/24/2018 8:13PM
  God Bless, hang in there. Two thoughts on help -- RichwebHokie 08/24/2018 2:21PM
  Thanks. Yeah, I live in the 757 - in Poquoson ** -- Hokie Koooster 08/24/2018 1:55PM
  You're a good egg, CPRV. -- s.mill hokie 08/24/2018 2:25PM
  Re: Could use some advice... -- DaveVT 08/24/2018 1:09PM
  @Hokie CPA , can you help answer this question? -- Late 80s Hokie 08/24/2018 12:59PM

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