Accounting for an estate
K.T. Tim has been appointed to serve as executor for the estate of Ms. Melanie Triciao, who passed away on August 15, 2011. Ms. Triciao’s assets consisted of the following:
|
Asset |
Book Value |
Fair Value |
|
Cash |
$118,225 |
$ 118,225 |
|
Savings accounts |
250,000 |
250,000 |
|
ViaReggio common stock |
67,500 |
225,000 |
|
City of Roma municipal bonds |
381,500 |
412,000 |
|
Mercedes sports car |
57,500 |
41,000 |
|
Condominium on Italian Riviera |
399,700 |
1,265,500 |
|
Atlanta personal residence |
225,700 |
430,000 |
|
Collection of rare hand puppets |
11,145 |
85,000 |
|
Fully restored Model T Ford |
1,750 |
125,000 |
The probate court has ruled that other personal effects may be excluded from the estate inventory.
REQUIRED: Prepare the estate inventory as of August 15, 2011.