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My MIL was diagnosed with rectal cancer in April. We visited not long after that (my in-laws live a couple hours from us and the tax office closed for the last week of April). MIL was comfortably numb from her pain meds (I wonder how much one could get for those on the street) as she is 91 y.o. (turns 92 mid-August), so surgery is very unlikely to be successful. The doctors gave her 6 months to live.
Mrs. TGK and her brother are the executors. The will calls for liquidating everything and a three-way split (they have an older brother). They were also executors for FIL, but he had almost no assets in his name alone, so closing his estate was a matter of transferring the investments, house and bank accounts solely to MIL's name.
Yes, I am familiar with the tax implications and forms to be completed. I have done several decedent returns already...this will be my first estate though.
Anyone with experience in closing out estates? Even a good (and current) how-to book will be helpful.
As I am retired, Mrs. TGK and BIL are looking to me to do the grunt work--I almost consider this a rehearsal for doing Mom's estate. I am the executor for my mother's estate--she is 77 now, but the women in her family typically live to their late '80's, some breaking 90.
Side note: anyone know of a book or template for accounts, passwords, etc. to leave a survivor?
Mrs. TGK and her brother are the executors. The will calls for liquidating everything and a three-way split (they have an older brother). They were also executors for FIL, but he had almost no assets in his name alone, so closing his estate was a matter of transferring the investments, house and bank accounts solely to MIL's name.
Yes, I am familiar with the tax implications and forms to be completed. I have done several decedent returns already...this will be my first estate though.
Anyone with experience in closing out estates? Even a good (and current) how-to book will be helpful.
As I am retired, Mrs. TGK and BIL are looking to me to do the grunt work--I almost consider this a rehearsal for doing Mom's estate. I am the executor for my mother's estate--she is 77 now, but the women in her family typically live to their late '80's, some breaking 90.
Side note: anyone know of a book or template for accounts, passwords, etc. to leave a survivor?
