[WSBAPT] Closing Estate - Tax Return Pending

[Philip N. Jones]

The big question is who the IRS will make the refund check out to, and how you will go about cashing (depositing) that check.  It is very difficult to cash a check payable to Robert Jones or the Robert Jones Estate when neither exist and neither have a bank account.  It is always best to keep the estate open and keep open an estate bank account with a small balance in it, unless other factors dictate otherwise.
Phil Jones

Philip N. Jones
Duffy Kekel LLP
900 S.W. Fifth Ave. Suite 2500
Portland, OR 97204
pjones at duffykekel.com<mailto:pjones at duffykekel.com>
(503) 226-1371 - office
(503) 853-1482 - cell
(503) 226-3574 - fax

From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Brent Williams-Ruth
Sent: Thursday, September 8, 2022 10:09 AM
To: WSBA Probate & Trust Listserv <WSBAPT at lists.wsbarppt.com>
Subject: [WSBAPT] Closing Estate - Tax Return Pending

Wise Members of the List -

I have an estate that I believe I may close, but want to verify.

Everything is done EXCEPT the filing of the last tax return where there will be a TAX REFUND back to the Decedent who had pre-paid quarterly taxes in advance of passing and is getting a tidy sum back.

11.68.114 deals with OWING taxes, penalties, fees, etc. but says nothing about keeping the estate account open to receive a refund. I presume that it would be also permissible to keep the estate account open to receive that refund and then issue final distribution to beneficiaries at that time.

Am I correct that we can close down and do the remaining closing process with that same language of 11.68.114 or do I just need to have everything sit in crock-pot mode until the tax refund is obtained?

Thank you!

Brent

Brent Williams-Ruth (pronouns: he/him)
Attorney-At-Law

Law Offices of Brent Williams-Ruth, a division of BWR Consulting, PLLC

Physical Address: 500 S 336th Street, Suite 214; Federal Way, WA 98003

**EFFECTIVE IMMEDIATELY** All mail sent through the USPS should be sent to the following address: PO BOX 3319; Federal Way, WA 98063

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