Many families are open about their wealth or investments, but there are often assets that are unknown to the executors of an estate. Since executors are usually out of the loop when it comes to the decedent’s assets, it is wise to rely on an experienced Bucks County estate lawyer to help with gathering assets belonging to the decedent.
Gathering assets starts with reviewing both tangible and intangible assets. Tangible assets include real estate or personal property such as valuables, vehicles, furnishings, and collections. Intangible assets include investments like stocks, bonds, mutual funds, insurance policies or other investment products that must be researched and valued as of the date of death. Executors should work closely with a Bucks County estate lawyer to determine which products, accounts, or properties are part of the estate assets.
For Bucks County estate cases, hiring an experienced estate attorney will ensure the accurate and comprehensive process of gathering assets. This is critical for any creditors, heirs and the IRS – improperly gathering assets and incorrect valuation of assets in the estate could cause the IRS to revalue property and assess additional taxes.
Contact our office today by calling (215) 486-8171 or submitting an online inquiry form for more information and to schedule a consultation with a Doylestown estate lawyer.