Summary: Close The Temporary Home Office

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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…

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

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