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Estate Liquidation – The Final Accounting
This group of articles was created to maximize the value of a personal estate while minimizing the efforts by you or for the family, executor or conservator. This Multi-tiered approach to Estate Liquidation leaves the real property ready for SALE after generating maximum income from the personal property. Yes, we are at the end of the project. Estate Liquidation – The Final Accounting offers some final thoughts: Be organized and make photocopies of everything, including sales and expense receipts, appraisals, and all relevant materials. Consider putting all sales and expenses in a spreadsheet for the convenience of your attorney or accountant. Keep a hard copy for yourself and give one to all other interested parties, including family members. Outline of Headers for Spreadsheets Global expenses for the project Commissions/Fees Advertising Postage and Insurance Cleaning Movers Bookkeeping/Accounting Personal Property Expenses Your original Inventory List can be expanded if originally created as a spreadsheet. The new columns to add (for tracking data and expenses): Appraisal Repairs Refinishing Movers Storage Sales Staff/Commissions Staging Bookkeeping/Accounting Preparation of Property for Sale Expenses Construction Maintenance/Repairs Clean up Supplies Storage Bookkeeping/Accounting Life Events Coordinator/Personal Assistance Services ... more
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