Broker Check
Rob Hudson, CExP, CLTC®
Rob Hudson, CExP, CLTC®
Westshore Financial Group Financial Advisor/Managing Associate/Certified Exit Planner
https://www.westshorefinancialgroup.com/rob-hudson (813) 289-3632

Dedicated to managing your risk by providing the protection that you need to have confidence in your financial future.

I am a trusted advisor to many, working with business owners and in advanced markets, specifically medical, legal, and with highly compensated sales professionals. My clients understand that a one-size fits all approach to planning and investing may not create favorable financial outcomes. I believe that my unique approach to goal planning, combined with past experience and expertise in the markets I serve, enable me to provide tailored solutions to my client’s financial problems that help lead them to their goals.

An alumnus of The University of South Florida with a BS in Economics, I am a fourth generation Tampa native with deep roots in the community. I am also a proud graduate of Tampa Jesuit high school. My grandfather, Frank Llaneza, was regarded as a pioneer in the premium cigar industry and a pillar of the Tampa community. My father is a disabled CPA, so I have a thorough understanding of the importance of protecting and managing cash flow.

I entered the financial services industry in 2008, and joined Guardian Life and Park Avenue Securities in 2012, where I was awarded the agency's first Centurion Award. I have been featured in a number of publications, am a member of the Coastal Conservation Association, The Westshore Business Alliance, and the Million Dollar Round Table. I am also proud to be a representative in The Tampa Jesuit Alumni Council, as well as a preferred financial wellness provider for physicians-in-training through HCA East and West Florida teaching hospitals.

I come from a family of outdoors enthusiasts, am an avid fisherman, and regularly compete in professional tournaments. I've even managed to win a few. Ask me about the fishing tournament when I won a brand new boat!

 

Video: Personal finance is like fishing! Video: Risk Management for Attorneys Video: Protecting your Business

Filing Final Tax Returns for the Deceased

Tax Read Time: 4 min

When a family member passes away, there are many decisions that need to be made and many emotions to handle. The last thing anyone thinks about is taxes.

Unfortunately, even the deceased can’t escape taxation. If the departed family member earned taxable income during the year in which they died, then federal taxes may be owed. An executor or a survivor must, therefore, file a final federal income tax return (Form 1040).1

Similarly, if the deceased individual had a sizable estate or assets that might generate income in the future, the estate may owe taxes. Federal estate tax forms pertaining to the decedent’s estate may need to be filed (Form 1041, Form 706).2,3

The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult a professional with tax expertise if you find yourself in this situation.

Income Taxes

The Internal Revenue Service generally gives you until April 15 of the year following the taxpayer’s death to file a final 1040 form. If the deceased was married, a surviving spouse has the option to file a final joint federal tax return for the last year in which the deceased lived.4

If you file the return online, the IRS provides instructions on all of this. If you are filing a paper return, you must write “Deceased,” the decedent’s name, and the date of death at the top of the 1040 form. An appointed personal representative and/or surviving spouse must sign this return per IRS guidelines. If a refund is due, you may need to file a Form 1310 (Statement of Person Claiming Refund Due a Deceased Taxpayer).4,5

Estate Taxes

If an estate is large enough, Form 706 (the United States Estate Tax Return) is due to the IRS within nine months of the death of the deceased, with a 6-month extension permitted. The individual federal estate tax exemption is $15 million for 2026, so an estate smaller than $15 million may not be faced with estate taxes unless the deceased individual made substantial monetary gifts before their passing.6,7

When the decedent’s estate has an executor or administrator (in IRS terminology, an “appointed personal representative”), they must sign the return for the decedent. For a joint return, the spouse must also sign. Alternatively, a survivor of the deceased can file the return.4

If an estate generates more than $600 in gross yearly income within 12 months of that taxpayer’s death, it will also be necessary to file Form 1041 (U.S. Income Tax Return for Estates and Trusts), usually by April 15 of the year after the year in which the individual died. Should 100% of the income-generating assets of the deceased be exempt from probate, the need to file Form 1041 is removed. Estates required to file Form 1041 should consult a tax professional.8

Lastly, there are some cases where expenses paid before death can be deductible. Under certain circumstances, part of the cost of treating a final illness may be deducted from the deceased’s final federal tax return.9

You Are Not Alone

A death in the family can take a heavy toll. In the event of such a tragedy, the last thing you may want to do is deal with the related financial issues. Contact us – we are here to help.

1. IRS.gov, 2025
2. IRS.gov, 2025
3. IRS.gov, 2025
4. IRS.gov, 2025
5. Investopedia.com, July 8, 2025
6. IRS.gov, 2025
7. IRS.gov, 2025
8. IRS.gov, 2025
9. IRS.gov, 2025

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

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