Asked by Christine Dawson on Jun 26, 2024
Verified
How may real property be treated in identifying estate property subject to probate?
Probate
The legal process through which a deceased person’s will is validated and the estate is settled, involving distribution of assets and payment of debts.
- Absorb the methodologies involved in the treatment and financial recording of estate assets and liabilities.
Verified Answer
SA
Shagun AgarwalJun 28, 2024
Final Answer :
In some states, real property is conveyed directly to the beneficiary or co-owner at the time of death and would not be included in the inventory of the estate.
Learning Objectives
- Absorb the methodologies involved in the treatment and financial recording of estate assets and liabilities.
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