The Essentials of Marshalling Estate Assets
When organizing and administering an estate, first marshal, or locate and list, all the decedent’s assets. List the decedent’s large assets, small businesses, and personal and household property. Use the mail and prior tax returns to locate assets. Also search through personal papers and hiding places, safes, and computer files.
When marshalling — locating and listing — a decedent’s assets, an estate administrator might begin with the largest assets: real estate and vehicles. Large assets will often be easy to find, but it is [more…]
If a decedent owned a small business, in full or in part, the estate’s executor needs to value that small business and decide whether to continue the business or sell it. Use the decedent’s tax return [more…]
A decedent’s mail can be an important resource for an estate administrator who is in the process of marshalling the decedent’s assets. As you read the decedent’s bills, statements, and correspondence, [more…]
Going through a decedent’s personal papers and hiding places may seem invasive, but it is necessary for an estate’s executor to conduct a search for all of the decedent’s assets, including hidden assets [more…]
When marshalling a decedent’s assets, check any safe-deposit boxes in the decedent’s name and go through his or her computer files. There may be valuable assets or important documentation in the decedent’s [more…]
For an estate executor in the process of locating a decedent’s assets, the decedent’s prior tax returns may be a useful resource. These tax returns (and the supporting documentation) provide information [more…]