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Video instructions and help with filling out and completing What Form 5495 Estates

Instructions and Help about What Form 5495 Estates

Welcome back this is Sharon born hope and in today's video video three we're going to talk about step three and that's when the assets are sold so if you remember in the beginning we talked about the other steps someone passes away that's what starts the whole process of you know opening a probate and struggling the estate so someone passes away and this could be a period of time passes before they actually open the estate which is step two so in step two this is where the estate is formally opened and it's determined if there's a will there's not a will you know who is the executor who's the administrator and so forth now once that is done then folks can proceed with seven going forward and with the business of the estate and the third step is is selling the assets in the estate so the the executor or the administrator one of their jobs is to keep the assets safe until everything happens along this process in the heirs ultimately get what's coming to them so they are in charge of everything they're in charge of bank accounts they are the person that can sell real estate they're the person that is in charge of selling all of the assets so what kind of assets are we talking about well it's everything there's a real property which is real estate and there is personal property and that is anything that can be moved its stocks bonds jewelry cars bank accounts so so first up you know property real property is is real estate land houses and it also encompasses things like drilling rights on property so our mineral rights things like that so anything that is attached to a property is real property now...

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