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What else can I help you with?
Can the new EC do the inventory by themselves the first time?
No. The outgoing and incoming EC must perform a joint inventory and account for all items listed on the inventory.
How detailed does an accounting for an estate have to be?
Generally, all the property listed in the inventory must be accounted for in the final account.
What is the difference between Virtual Inventory and Physical Inventory?
Virtual inventory refers to products that are listed for sale online but may not actually be in stock or stored in a physical location, whereas physical inventory refers to products that are physically stocked and stored in a warehouse or store. Virtual inventory allows businesses to offer a wider range of products without holding physical stock, while physical inventory involves managing stock levels to meet customer demand.
Can both parents be listed as account holders on a 529 account?
Yes, both parents can be listed as account holders on a 529 account.
What are the procedures of auditing work in progress?
Procedures of auditing work in progress are listed/ cutoff analysis, observe the physical inventory count, reconcile the inventory count to the general ledger, test high-value items, test error-prone items, test inventory in transit, test item costs, review freight costs, test for lower of cost or market, finished goods cost analysis, direct labor analysis, overhead analysis, work-in-process testing, inventory allowances, inventory ownership, and inventory layers.
What website is the minecraft inventory edit on?
Link listed under related link section.
Can an executor hide money from her mother's will that is supposed to be divided three ways?
Once a probate is filed it becomes a public record allowing you to monitor every action taken by the executor. She is obligated to file an inventory with the court. You can review the inventory she filed and see if you think it's complete. If she hasn't filed one then complain to the court or to the attorney who is handling the estate. Once the probate process has been completed the executor is required to file an account with the court that shows the disposition of all the property that was listed in the inventory. AT that time the heirs will be required to sign a release and assent to the account. Stealing from an estate is a very serious violation of the law and will generally show up at some time during the probate process.
What is an open account listed on a credit report?
Open Account - account listed as "open" on your credit report are accounts that are open, includes all accounts that have been reported within the last 90 days.
What should you do if corrections need to be made on the inventory?
Annotate changes in red on the listing. After physically locating all items listed on the inventory have the BECO make any changes required.
What are the different between stock and inventory?
Stock is the goods or items held by a business (shop, warehouse, factory, etc). An inventory is a list of the stock held by the businesses listed above.
Is the value of an estate submitted to probate court before or after creditors have been paid?
The inventory of the estate should be filed as soon as possible. It has nothing to do with paying creditors. Rather it is a picture of the assets owned by the decedent at the time of death. It enables the court to supervise the estate. After the debts have been paid and the estate is distributed the court requires the executor to file a final account that details where all the property listed in the inventory went. It will be compared to the inventory for accuracy.
If the probate court document showed one small bank account listed does that constitute the estate as far as creditors are concerned?
No. One of the duties of the executrix is to identify all of the assets of the estate, including any other stocks, bonds, bank accounts and property. Only when a complete inventory has been finished and the debts identified can the estate be closed. You should probably consult with a probate attorney for the state that you are in.
