19. Satisfy specific legacies through sales, auction, etc, of assets 20.Financial: Valuation of assets as basis for the following: probate fee, deemed disposition of capital properties, source of funds for taxable income, cash flow needs, accounting records (if accounting passed), executor’s compensation. 21. Set aside funds or estimated debts, taxes (including capital gains taxes) and executor’s compensation. 22. Arrange for payments of other debts, legacies, etc. These may wait for estate liquidation. 23. Income tax: prepare and file final returns to date of death. Use prior returns as templates. File any missing years. Consider special returns for year of […]
