Upon the date of death, any assets the decedent owns become property of an estate which is created and given a Federal Identification number as a separate entity. If the assets held in the estate generate $600 or more of gross income during the year, an estate return (Form 1041) must be filed. Again, the person appointed as executor of the estate would handle gathering this information. If there are assets in the estate that are to be distributed to beneficiaries and if there is property to be sold, the estate would remain open until this takes place and a return will be filed for each year it is open. A closing certificate is requested when a final estate return is filed and the entity is dissolved.