6 PEAAH ANS. AAA ES

 

The average liquid cash required in the case of the average
$100,000. Estate S@@@ Fed. exemption

 

Funeral-Burial $ 1300

Last illness 1000

Current bills, notes, etc. 6000

Probate-Legal fees 5000

Federal Est. Tax 2440

State Inheritance Tax 0 in Ga.

Local Property Tax 500

State Income Tax 200

Fed. Inc. Tax assume Pd. 0
$16,440

This Estate would require $16,440. to satisfy all the claims
for debts, administration costs and taxes.

How many Estates include enough quick assets to permit —
speedy liquidation so as to prevent forced sales of Estate property,
possibly under unsuitable market conditions, which might cause
great sacrifice to the principal of the Estate?

To cite an actual case of Estate embarrassment due to the
lack of liquid assets, is that of a well known resident of Georgia,
who died about four years ago. There the Court was asked to
decide whether or not the Executors had the power to borrow
$750,000, with which to pay the Estate Taxes. Many similar
cases are a matter of record.