After closing an estate, the most gratifying task for the acting executor, is to close the temporary home office. Typically, after completing all tasks of the estate and satisfying all rules of probate, the estate administration is over. At this point, the acting executor will store important documents of the estate and will close the temporary home office. In my experience, my gratifying moment didn’t happen until five months after the close of the estate. As depicted in the article Estate Income Tax Returns: Review and File the Returns, the estate closed on November 25, 2013, and my responsibilities to file the estate income tax returns lingered into late February 2014. Furthermore, I didn’t want to close the temporary home office until the …show more content…
tax deadline passed. So, after April 15, 2014, it was finally time to close the temporary home office and become the former executor. Close the Temporary Home Office The task to close the temporary home office is a simple task.
The hard work involving the temporary home office was in the set up. As described in the article Set up the Home Office, a filing system was set up for the following reasons: 1) To organize the estate administration by converting storage boxes into a filing system. 2) After closing the estate, the acting executor simply covers up the storage boxes and stores the files for a few years. However, before covering the storage boxes, an acting executor will need to keep some documents available. Even after settling an estate, there may be requests for documents such as death certificates. Accordingly, the former executor should keep the following documents accessible: 1) Death certificates. 2) Executor approval letter. 3) Any estate closing documents. 4) Original IRS Tax Id forms. Additionally, the former executor should file copies all the completed tax returns for the estate in the proper storage box. If the decedent had amended returns three years before death, store those returns as well. Once all the important documents of the estate are in the storage boxes, the former executor should store the boxes for at least three
years. Conclusion As mentioned many times in previous articles, estates are not the same. So, that gratifying feeling of the former executor may be delayed or happen quickly after the closing of the estate. Regardless, once those storage boxes are in storage, the former executor should feel proud. In common estates, most executors are new to the process. Typically, the common executors are reluctant to take on the task of administering an estate because of the unknown. They question their ability to handle a temporary legal entity such as an estate. As a result, when the common executor puts that final storage box down after a successful estate administration, the feeling of accomplishment is overwhelming.
We started our research by reading through the discussions posted within the Topic of Research. From there we read the recommended pages of the text, 20-2, 20-3, and 20-4 regarding the liquidation process. Using the CCH Tax Research Network, we used a selected content search, Federal Tax--Federal Tax Editorial Content--Standard Federal Tax Reporter (2014), to research the following laws: Section 331(a), 336(a), and 6901(a). We also used the Citator in CCH to review the facts and decisions shown in the liquidation cases of Kennemer and Al Zuni of Arizona.
As we get older and delve into the real world, it is important to start thinking about end-of-life care and advance directives. Although it is something no one wants to imagine, there is an absolute necessity for living wills and a power of attorney. Learning about the Patient Self-Determination Act and the different legal basis in where you live is important because it will help people understand why advance care directives are so important. Although there are several barriers in implementing advance care directives, there are also several actions that healthcare professionals can take to overcome these obstacles. These are also important to know about, especially for someone going into the medical field.
...heir whole families. They are not the only ones going through the process which involves grieving at first, and having direct support from other families can be of huge advantage to them.
...shes to see their loved one for the final time, can pay their respects, with the closest family members going last. Family and friends are welcome in one's home after someone passes to preclude them of the loneliness of their lost one. Cremations are not uncommon.
charitable bequest in their wills — even though no nonpro fit has asked them to do so.This leaves
After Issa's death, Malek filed a petition to probate his will and be appointed executor of his
Before you take any actions towards acting on behalf of the deceased you must figure out who can actually act on behalf of the
Before his death, Raphael was able to receive his last rites and he got all his affairs in order. He was able to dictate his will and left funds for the care of his mistress and also left most of what he had left of his studio contents to Giulio Romano and Penni. Raphael’s funeral, at the Pantheon per his request, was very grand and many people attended (Raphael Biography, 2014). Written on his sarcophagus, or casket, was “Here lies that famous Raphael by whom nature feared to be conquered while he lived, and when he was dying, feared herself to die” (Raphael Sanzio, 2012).
If I name two or more primary beneficiaries to receive a specific gift of property and any of them do not survive me, all surviving primary beneficiaries shall equally divide the deceased primary beneficiary's share unless I have specifically provided otherwise. If I name two or more alternate beneficiaries to receive a specific gift of property and any of them do not survive me, all surviving alternate beneficiaries shall equally divide the deceased alternate beneficiary's
#4 I know that after someone dies family members, friends, and loved ones will often
When a person passes the tradition states that the deceased should not be left alone. Friends or family will stay with the body, or s person called a shomer is assigned to watch over the body. They are expected to stay awake and attentive.
The disposition of the dead is facilitated in variety of ways because people have died at all points in history and the living have always mourned the dearth of loved ones with some type of ceremony. The way a person is buried is sometimes the deceased person’s wishes as stated in a will or legal document or it could be the decision of the family. But most times once you are dead others can do with your body as they wish.
Traditional the body will leave the mortuary around 2:00 on the Friday before the funeral. Funerals are held on Saturdays. The pastor from the family 's church is suppose too be there to receive the
In a will, you can ease the burden on your grieving survivors by planning your funeral arrangements; determine how your property will be distributed; determine how your debts will be paid; and especially those with minor children: if you and your spouse should die before your children grow up, you can nominate personal guardians for them and their property. Otherwise, a court will appoint a guardian without your input, and the court appointed guardian will decide where your children will live, educated, and worship, until they become of legal age.
Even if you don’t have any plans for both the cases you can still start writing a diary. Who knows someone might be interested in learning about your life after your death?