All Hokie, All the Time. Period. Presented by

The Lounge Board

lchoro

Joined: 02/22/2016 Posts: 4561
Likes: 2382


The probate office will provide forms for inventory and accounting


You file an initial inventory of assets and a final inventory. A final accounting will tell them what was paid out. You can do it yourself with or without an accountant auditing your work. The paperwork is submitted with the bank statements, invoices, receipts, checks, etc. If the ledger entries are not in the form the court clerk wants, they will send it back and ask for changes.

401k should have a designated beneficiary. If not, it goes into the estate.

The insurance is usually outside the estate.

You should have a meeting at the clerk's office and they will provide the handouts if the estate is big enough to probate. There's probably a simplified form if it's not and allows the money to transferred to heirs.
[Post edited by lchoro at 08/24/2018 2:46PM]

(In response to this post by Hokie Koooster)

Posted: 08/24/2018 at 2:40PM



+0

Insert a Link

Enter the title of the link here:


Enter the full web address of the link here -- include the "http://" part:


Current Thread:
 
  
Could use some advice... -- Hokie Koooster 08/24/2018 12:52PM
  So very sorry ** -- LaneRat 08/24/2018 2:51PM
  Yeah, I've met with the clerk's office already -- Hokie Koooster 08/24/2018 3:08PM
  A few things (inside) -- FfxStationHokie 08/24/2018 2:31PM
  Yes/yes/yes - IRA is only about $3,500 ** -- Hokie Koooster 08/24/2018 2:35PM
  Good (inside) -- FfxStationHokie 08/24/2018 2:52PM
  I can't imagine. Sorry, Koooster ** -- HokieDiver 08/24/2018 2:23PM
  Got ya ** -- VaTechie 08/24/2018 9:15PM
  Yes. ** -- Hokieesith 08/24/2018 2:29PM
  Who was the beneficiary of the 401k? ** -- CPRVHokie 08/24/2018 2:38PM
  There wasn't one designated ** -- Hokie Koooster 08/24/2018 2:43PM
  Is the insurance payout payable to his estate? ** -- CPRVHokie 08/24/2018 2:56PM
  Looks like you will need to file an estate return. ** -- Hokieesith 08/24/2018 3:14PM
  Aaaaaaand we’re back where we started. ** -- CPRVHokie 08/24/2018 7:00PM
  Kind of. Needs to be done in steps. -- Hokieesith 08/24/2018 8:13PM
  God Bless, hang in there. Two thoughts on help -- RichwebHokie 08/24/2018 2:21PM
  Thanks. Yeah, I live in the 757 - in Poquoson ** -- Hokie Koooster 08/24/2018 1:55PM
  You're a good egg, CPRV. -- s.mill hokie 08/24/2018 2:25PM
  Re: Could use some advice... -- DaveVT 08/24/2018 1:09PM
  @Hokie CPA , can you help answer this question? -- Late 80s Hokie 08/24/2018 12:59PM

Tech Sideline is Presented By:

Our Sponsors

vm307