How to Be Prepared for an Estate Audit
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10 Common Pitfalls for Estate and Trust Administrators to Avoid

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Don't fail to terminate an existing real estate purchase and sale agreement.

As far as costly mistakes go, not ending an existing real estate purchase and sale agreement when the decedent (or deceased) is the seller is huge! Keeping the original agreement in place may substantially increase the taxes you’ll owe on the sale, costing the estate, and the eventual heirs, big-time.

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