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Can a sibling charge for time and expenses incurred when sorting out her deceased mothers belongings you are not an executor?
You cannot charge for your services unless you have made that agreement with your other siblings.
If you are the one going through your mother's belongings, sorting everything out, discarding non-savables and packing up things to distribute to your siblings they should pay you because that is a big job. However, you really must have a written agreement that sets forth exactly what you will do and how much you will charge. Everyone needs to sign it. You can't just present them with a bill after you're finished.
An executor is paid for their services. If you perform this big job on your own, you should be paid by your siblings. You should be able to make a reasonable agreement together.
What else can I help you with?
What are the direct expences?
Direct expenses refer to all those expenses which are incurred from the stage of purchase till the stage of making the goods insaleable condition.such expenses include the following expenses: (i) freight inwards (ii) import duty (iii) octroi (iv) carriage inwards and cartage inwards (v) wages
What is pre-operating in business plan?
Pre-operating costs are any expenses incurred during the formation of a new business. All types of business entities may incur pre-operating costs.
Calculate business interruption insurance?
The theory of calculating business interruption losses is relatively easy, but the application is very difficult and subjective. Theoretically the insured, based on the most common policy wordings, is entitled to lost profits plus continuing normal operating expenses incurred. Another popular version is lost revenue less saved expenses (or those expenses not necesarily incurred). Ordinary payroll may or may not be covered as a continuing expense based upon the wording of the policy. Insurance companies generally take the position that no depreciation is a continuing expense if the asset is destroyed or idle during the suspension of the business.
what claims can heirs make against an estate?
Heirs can make claims against an estate for a variety of reasons, including seeking their rightful share as stipulated in a will or under intestacy laws if no will exists. They may also claim for expenses incurred on behalf of the deceased, such as funeral costs or outstanding debts. Additionally, heirs can contest the validity of a will, alleging issues like lack of capacity or undue influence. In some cases, they may pursue claims for specific bequests that were not honored or for property that was wrongfully excluded from the estate.
Define maintenance and other operating expenses?
Operating Expenses are expenses that are incurred while running a business. Maintenance Expense could be considered anything from the cost of maintaining a company vehicle to repairs made on a building or some other type of "maintenance" that is require by the business in order to function at 100%. Many expenses have their own account such as, Utilities Expense, Rent Expense, Insurance Expense, Interest Expense, Supply Expense, just to name a few. Other expense may not have a specific account in which to be recorded, such as Travel Expense, Food Expense (perhaps to entertain a possible client), these expense are often listed under "Other Expenses".
What happens if an executor does not have the funds to pay off deceased bills?
The executor's duty is to apply the deceased's assets, to the extent that it is possible towards meeting the deceased's liabilities. In the even of insufficient funds, after funeral and testamentary expenses - typically costs incurred post mortem, the outstanding bills are paid pro rata. The heirs, especially dependent spouses and children would get nothing. Effective estate planning would reduce the possibility of dependents being left high and dry.
Expenses that have been incurred but not recorded in the accounts?
Expenses incurred but not yet paid or recorded are called accrued expenses.
Can I use my 2021 FSA funds for expenses incurred in 2020?
No, you cannot use your 2021 FSA funds for expenses incurred in 2020. FSA funds must be used for expenses incurred in the same plan year.
Record expenses that have incurred but not paid for yet?
Accrued Expenses
Does the executor's fee include personal expenses and personal labor incurred during the administration of the estate or should this be billed separately to the estate?
The executor's fee is compensation for the work done. It is often calculated as an hourly rate, plus appropriate expenses (mileage, phone calls, etc.). In some places it is capped by law to a certain percentage of the estate's value.
Can I use my 2022 FSA funds for expenses incurred in 2021?
No, you cannot use your 2022 FSA funds for expenses incurred in 2021.
Is a surviving spouse in Oklahoma obligated to pay medical expenses incurred by the deceased spouse prior to death?
Only if the person entered into a written contract with the medical providers to do so.
Difference between outstanding expenses and unexpired expenses?
Outstanding expnese is that expense which is already incurred but amount is not paid while unexpired expenses are those expenses for which payment is made in advance but actually expenses are not yet incurred.
What is preoperative expenses?
Incurred expenses before company formation after commencement of business
Expenses that are incurred directly or entirely in connection with the sale of merchandise are classified as?
Selling Expenses
Is professional fee expense an administrative expense or a selling expense?
Expenses which are incurred for the selling of product is called Selling Expenses while expenses incurred on administration of general day to day tasks are called administration expenses
Your planned trip was cancelled. Do you cancel the authorization?
Only if expenses where occurred.
