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Ticking Tax Time Bombs | The Executor Files

https://fiduciaryadvisors.wordpress.com/2015/05/15/ticking-tax-time-bombs

Ticking Tax Time Bombs. Asymp; 1 Comment. US Series E and EE Bonds. There are many series E and EE bonds sitting in safe deposit boxes and sock drawers which were purchased 40, 50 and 60 years ago. During and after WWII purchasing these bonds at $18.25 for an eventual $25 was not only a patriotic duty but it was about the only viable forced savings plan available since companies would take the money out of your paycheck and buy them for you. Especially when these assets are passed into estates. You are c...

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Under No Obligation | The Executor Files

https://fiduciaryadvisors.wordpress.com/2015/08/04/under-no-obligation

Asymp; Leave a comment. There are several reasons why someone would decline to serve as executor. The most common are:. Eg The decedent lived in New Jersey and you now live in California…. You have other commitments and responsibilities that make it impossible for you to serve. The family is fractured; the estate administration will be a battlefield and you want no part of it. There mat be a business involved. Or real estate investments. That require knowledge and skills you know you lack. Enter your com...

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fiduciaryadvisors | The Executor Files

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Estate Planning – An Act of Love. Asymp; Leave a comment. Estate planning seems like such a benign phase. However, when you engage in the process of planning for what happens to you and your spouse as you get older and eventually pass away, it takes a life of its own. It starts with recognizing your mortality and being motivated to put in place the documents, instructions and safeguards that are required as you enter the final phase of your life. Then there is the preparation of durable powers of attorney.

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Hoarders | The Executor Files

https://fiduciaryadvisors.wordpress.com/2015/07/31/hoarders

Asymp; Leave a comment. They’re not just on TV reality shows – they’re real and if you are involved in estates, or named as executor, you will most likely come across a case of hoarding. Before I proceed further, I need to distinguish between older people like my wife and I who have a cluttered garage or basement full of stuff our children have left behind and a hoarder. I am referring to a person who has room after room filled floor to ceiling with stuff. The “neat” hoarder. Upon entering the house, eve...

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Estate Pitfalls | The Executor Files

https://fiduciaryadvisors.wordpress.com/2015/05/21/estate-pitfalls

Asymp; 1 Comment. The duties of an Executor/trix often present difficult decisions. Take for instance one estate where I was involved. An individual, who worked for a large, recognized company for many years, amassed a small fortune just in company stock. His will left no provisions regarding the disposition of the stock. The family members wanted to retain the stock because of its sentimental value. This creates the pitfall! If the value of the asset falls, the Executor can be held liable. Enter your co...

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Necessary Snooping | The Executor Files

https://fiduciaryadvisors.wordpress.com/2015/08/10/necessary-snooping

Asymp; Leave a comment. This is your job. It may feel like snooping but you are doing your job of collecting and maximizing all of the existing assets and determining all of the existing liabilities. I have yet to administer an estate where you start out with a complete, accurate and current list of a decedent’s assets and liabilities. Follow us on Facebook. Larr; Previous post. Next post →. Leave a Reply Cancel reply. Enter your comment here. Fill in your details below or click an icon to log in:. Notif...

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Not As Glamorous As You’d Expect | The Executor Files

https://fiduciaryadvisors.wordpress.com/2015/07/28/not-as-glamorous-as-youd-expect

Not As Glamorous As You’d Expect. Asymp; 1 Comment. The job of being an executor rises to a new level of responsibility if the deceased owned a business. The moment you qualify as executor you step into the decedent’s shoes and you, representing the estate, are now responsible for the day to day operations of the business. Unless you are a relative who has worked in the business extensively, you have a huge challenge ahead of yourself. Keep the business operating. Sell it as is. My saving grace is that i...