Tag Archives | Estates

Difference between Income and Principal | Accounting

In many estates, the executor faces the problem of differentiating between income and princi­pal transactions. For example, a will might state "all income earned on my estate for five years after death is to go to my sister, with the estate then being conveyed to my children." The recip­ient of the income is known as an income beneficiary whereas the [...]

By |2023-06-21T14:24:26+00:00May 19, 2018|Difference Between|Comments Off on Difference between Income and Principal | Accounting

Accounting for Estates

While none of us want to contemplate our death, or that of our spouse, we all need an estate plan. If you need motivation to reach this decision, remember that every dollar you keep from the folks in Washington or your state capital goes to someone you like a heck of a lot better such as your kids, your younger [...]

By |2018-05-16T07:35:54+00:00May 16, 2018|Estates|Comments Off on Accounting for Estates
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