After being appointed, the executor must document all of the decedent’s assets. This documentation is often referred to as the inventory. All of the decedent’s individually owned property must be listed at the date of death valuation. The Inventory is signed by the Executorand filed with the court. At this juncture, the Executor should determine whether a Massachusetts estate tax return and/or a Federal estate tax return must be filed. If the decedent’s gross estate exceeds certain limits and/or the estate includes real estate situated in Massachusetts, a federal estate tax return and/or Massachusetts estate tax return may be required.
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