Estate Funds Improperly Used for Business

Executor is required to reimburse estate for estate funds used to pay taxes and expenses of decedent’s business. Sale of property to decedent’s daughter for less than the value reported on the inheritance tax return was approved due to the dilapidated condition of the property and the expenses incurred by the daughter to improve the property. Payment of the family exemption to the daughter was also approved. The account of the executor as agent for the decedent during his lifetime was approved even though it showed no meaningful transactions based upon the credible testimony of the agent that he conducted no financial transactions for the decedent. Hill Estate, 1 Fid.Rep.4th 413 (Bucks O.D. 2023).

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