![]() The judge also might require you to file your receipts with the court and receive their approval before you may be reimbursed. If the court is closely overseeing the administration of the estate, the judge might require this procedure. You can then be reimbursed by the estate. It might be necessary to pay the expenses yourself upfront and keep track of your receipts if you incur any expenses during the administration of the estate. ![]() The travel costs should not come out of your own pocket. If you live in a different place than the deceased, you might need to drive or fly in to take care of everything from closing bank accounts and making court appearances to being at the home for needed maintenance and repairs. The second sheet is designed to enter your farm’s expenses. The first sheet is designed to enter your farm’s bank deposits and record all types of farm income. Travel is one area of significant potential expense. This worksheet is part of the Farm and Agribusiness Management team’s new Farm Accounting 101 series to train Alabama producers on improved farm financial record keeping. Consult your estate attorney to determine what costs can be paid by the estate as rules differ by state. In the ‘Category Setup’ tab, users can customize labels to categorize their transactions, providing a personalized view of their financial habits. However, if you incur expenses to do your job effectively, it is perfectly appropriate to charge those to the estate. This template, compatible with Microsoft Excel and Google Sheets, allows users to categorize and track income and expenses, set budget targets, and analyze spending trends over time. ![]() Remember, in your role as a fiduciary, it is your job to follow the will to work on behalf of the beneficiaries. You also might incur expenses in your executor role which should be charged to the estate.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |