The executor/administrator must file with Probate Court an inventory of the estate assets. The inventory is due within three months of being appointed. The Court can extend the time for filing of the inventory. This is a detailed list of…
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All assets owned by the decedent as of the date of death are valued at fair market value. Therefore, many assets like; real estate, closely held family businesses, antiques, and collections need to be appraised by a professional appraiser. Stocks…
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The executor will typically locate assets by going through the decedent’s personal records and mail, a review of the past two years of income tax returns, and a review of canceled checks for the past year. One of the first…
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An executor or administrator of an estate is the person who is responsible for the administration of the estate. They must identify and evaluate the assets. They must identify and pay all bills. They are responsible for selling the assets…
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Whether an estate goes through probate or not, depends on how the decedent held assets and what types of assets were owned at the time of death. Certain assets have to go through probate, other assets do not. The…
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A last will and testament is a legal document that identifies where your assets go once you have passed away. There are three main questions answered in a will. First, what happens to your assets when you die? Second, who…
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