EXPERIENCE HIGHLIGHTS
Patricia Vultaggio is a Tax Principal in the Personal Wealth Services Group with nearly 35 years of experience in trust and estate planning and administration. Patricia is our head fiduciary accountant and works closely with clients, their attorneys, and other service professionals in satisfying their planning and administration needs. Her experience extends to:
Preparing formal and informal trust and estate accountings:
- Assembling fragmented material dating back more than 20 years where records are incomplete
- Addressing issues in accountings where there are competing interests among the beneficiaries, including complex family relationships
- Addressing principal and income allocation issues when the trust or estate owns complex business interests
- Calculating complicated allocation schedules of net income earned during the estate administration where fractional interests of the residuary beneficiaries are adjusted due to on-account distributions or payment of estate taxes
- Setting up depreciation reserves
- Reconciling loans and distributions between the trust or estate and business entities
- Calculating accounting income, final distributions, commission schedules, and cash flow and liquidity needs
Preparing federal and state estate tax returns:
- Working on tax returns where assets are valued at more than $500 million
- Preparing complicated marital deduction calculations and generation skipping transfer tax schedules
Previously, she was a trust and estate paralegal with prominent New York City law firms.
EDUCATION AND LICENSES
Patricia received a Bachelor of Science degree in Paralegal Studies from St. John’s University.
