Assets That Slip Through the Cracks
The tangible personal property, cash, bank & securities accounts, real property, and so forth are all pretty self-evident. Assets that are often overlooked usually fall through some of the following cracks:
- Income items that were due and payable but not yet paid at Descendant’s death; examples:
- Interest due,
- Paychecks due,
- Refunds due,
- Rents due, etc.
- Security deposits.
- Cash value of insurance policies owned by Descendant on another’s life.
- Descendant’s community property interest in surviving spouse’s IRAs and employee benefit plans.