Farm Income, Ordinary Gains, and Other Income for a Decedent, Estate, or Trust
Who Can Inherit from an Estate?
What Are Estate and Trust State Intangible and Real Estate Taxes?

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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