Providing Personalized Legal Services With Integrity, Compassion And Diligence

Representation For TPO Estates

A tax-purposes-only estate (TPO estate) is a type of estate necessitated when all of the decedent’s property is owned with another person, meaning it automatically passes to the surviving owner upon death, however there is real property or home and the transfer must be finalized through the probate court. This is common in Connecticut, where the surviving spouse or co-owner must open a TPO estate to handle the transfer of real property into the survivor’s name alone.

At the Law Offices of Linda K. Bertolette, LLC, our attorney brings over 30 years of experience in handling various estate matters, including probate of wills, estates without wills, TPO estates and ancillary estates. Our clients receive a compassionate and diligent approach in our work that ensures we manage every step of their case with efficiency and accuracy. Whether you are a surviving spouse or are working through survivorship assets, we are here to support you.

The purpose of a TPO estate is to obtain a release of succession tax lien which effectively transfers real property to the survivor owner. While other states may only require a death certificate to be recorded for a transfer, our state requires that this type of Estate be undertaken.

Managing Survivorship Assets

In a TPO estate, survivorship assets are typically jointly owned properties such as real estate, bank accounts and investment accounts. These kinds of assets are not usually part of the probate estate but instead are part of the gross taxable estate for tax purposes. This means that these assets will pass on directly to a surviving owner but in order to complete the transfer probate fees must be properly assessed and paid.

Let Us Keep Things Simple

Trying to resolve the needs of estate administration can seem overwhelming. Instead of hoping you are doing things correctly on your own, let us get it done right the first time. Call our West Hartford office at 860-541-5892 or email us here to schedule your initial consultation today.