What tasks does the executor of an estate perform?

Assess the effect of an irrevocable trust on the gift tax and future estate taxes.

What guidelines must be followed to classify a transaction as associated with the principal of an estate or as an income transaction? Select one: a.The decedent's intentions or state laws b.Generally accepted accounting principles c.The Internal Revenue Code d.State estate laws e.Federal estate laws

The basis for determining gain or loss from sale of disposition of property is the fair market price or value at the date of death of the decedent if the same was acquired by inheritance. TRUE OR FALSE?

Can you explain the choices an executor of an estate has in determining the values of assets included in the estate for tax purposes.

How else would you try comparing the income taxation of estates and accepts?

Explain and account for the distinction between principal and income in the context of estate and trust accounting.

Explain Estates Not Yet in Possession (Future Estates)