Within the time set by state statute, the personal representative must prepare an inventory that includes all of the following EXCEPT:
A)A valuation of the assets at fair market value
B)All real and personal property owned by the decedent at the time of death
C)Administration expenses
D)Identify any encumbrances on assets

Question

Quizplus · Accepted Answer

Administration expenses are not included in the initial inventory prepared by the personal representative. The inventory typically includes the valuation of assets at fair market value, all real and personal property owned by the decedent at the time of death, and any encumbrances on assets, but not the expenses related to administering the estate.

Within the Time Set by State Statute, the Personal Representative