Estate Administration

·      Prepare probate petitions and ancillary documents; file papers with Surrogate’s Court and obtain Letters Testamentary and Letters of Trusteeship; Prepare and maintain a calendar system, noting important estate administration deadlines and court appearances; Evaluate assets (as of date of death and alternate valuation date); verify bank and investment balances and prepare inventory; Open up estate and trust checking and investment accounts; Close out decedent’s bank and investment accounts; arrange for and coordinate transfer of assets to Estate and/or beneficiaries; Prepare disclaimer of beneficiary’s interests and file appropriate papers with Court; Obtain and review income tax returns and other financial records; File life insurance claims and other death benefit claims; Preparation of SS-4 and obtaining EIN’s; Determine when formal appraisals are necessary and arrange them accordingly; Maintain all estate records; Obtain federal and state tax clearance to release any tax liabilities; Review pertinent documents and conduct research relating to tax filings; Coordinate with litigation counsel in connection with any pending lawsuits filed on behalf of the deceased; Prepare for estate tax audit and conduct audit with supervision from attorney; Review wills for creation and direction of testamentary trusts; open up trust accounts and fund with assets; Prepare release and refunding documents; Prepare accountings, both formal and informal, as well as petitions for same.

Trust & Estate Planning

·      Prepare and coordinate filing of retirement plan beneficiary designations; Prepare and coordinate life insurance ownership and beneficiary forms; Prepare Crummey letters; Coordinate the transfer of assets into trusts, including bank accounts, stock transfers and real estate deeds; Perform routine trust accounting; Distribute trust assets at termination of the trust; Maintain financial records of trust; Coordinate periodic income and principal distributions from trust; Correspond and communicate with trusts’ grantors and beneficiaries; Draft inventories, accounts, and petitions for those trusts requiring adjudication; Assist in monitoring investment performance in large family situations.

Formations

·      Formation of LLCs, LPs, corporations and other business entities; Preparation of SS-4 and obtaining EINs; Coordinate opening of financial accounts; Preparation of organizational resolutions and other authorizing documents; Preparation and management of ownership evidence (e.g., Stock certificates), as well as ledgers and other transfer documents; Coordinate state tax registrations; Prepare draft ownership agreements (e.g., operating agreements, partnership agreements and stockholder agreements).

Tax

·      Maintain records and draft returns for following taxes: estate, fiduciary income, gift tax, gift application for tax-exempt organization, and informational returns for charitable organizations and private foundations; Gather and organize information for audits and reviews; Research current tax law, letter and revenue rulings, tax court decisions, and legislative materials; Maintain and update federal and state(s) tax form files and publications; Calculate interest on overpayments and underpayments; calculate penalties; Maintain tax return preparation docket (including gift and estate tax returns).

A minimum of 15 years experience working in a law firm environment is required.  A college degree & paralegal certificate are preferred. 

Schiff Hardin LLP offers a competitive salary & benefits package including medical, dental, life AD&D, disability, 401(k) & professional retirement plan.  We are a firm that truly appreciates the individual & all the individual can accomplish.  We are an Equal Opportunity Employer committed to a diverse workplace.  Come grow with us!  Interested applicants should submit a cover letter, including salary requirements, and resume to nystaffrecruiter@schiffhardin.com .