Probably not if that's the only reason and if no executor is willing to removed voluntarilly. A decedent's choice of executors, no matter how many, is his and his alone just as is the manner in which his estate is divided. It will be upheld by a court unless the two cannot get along causing problems in the estate. Most states have statutes that outline the circumstances which call for the removal of an executor. These mostly have to do with the executor not doing the job properly to the detriment of the estate. The extra expense, while it may unnecessarilly reduce the estate, is not such a circumstance at least in New Jersey, but probably in most states as well. This answer is given for informational purposes only and not as legal advice.
Any executor must be appointed by the probate court. If joint executors are named in the Will they must petition to be appointed by the court. They can only be removed by the same court.
An EXECUTOR is named in the case of the existence of a will. (testate) An ADMINISTRATOR is named by the court in the case of no will (intestate) The will of the deceased (if it exists) will be the guide which the court follows. There is no limit to the number of executors a testator may appoint in his/her will. See the related links below for the procedures when there are more than one executors and what happens when one of several executors dies, is removed or resigns.
Any executor must be appointed by the probate court. If joint executors are named in the Will they must petition to be appointed by the court. They can only be removed by the same court.
Any executor must be appointed by the probate court. If joint executors are named in the Will they must petition to be appointed by the court. They can only be removed by the same court.
Return to the court that appointed the executor and petition to have the executor removed and a new one appointed.
depeletion?
Yes, both heirs could be appointed as co-executors. If the court feels it is in the best interests of the estate they will do so.
Bad Debt Expense does not appear on the balance sheet. It is only on the income statement. Allowance for Uncollectible Accounts does appear on the balance sheet.
The bad debt expense is generally removed at the end of the financial year, as it may classify as a deductible item when reporting tax at the end of the financial year.
Any executor must be appointed by the probate court. If joint executors are named in the Will they must petition to be appointed by the court. They can only be removed by the same court.
It'll get getting more and more complex until it is removed entirely
The process of transferring the cost of metal ores and other minerals removed from the earth to an expense account is called depletion. This accounting method allows companies to allocate the cost of natural resources over time as they are extracted and sold.