Determining Cash Needs
You must determine how much cash you will need and when you will need it. You should do this very early on. You may need to sell assets to obtain the necessary cash, and it takes time to sell assets, especially real estate. Keep in mind that it sometimes costs money to sell an asset (e.g. real estate agent commission, escrow fees, stock broker commission, etc.).
The following is a list of potential expenses:
| Description | Amount | Due Date |
| Funeral | $__________________ | _______________ |
| Last Illness Expenses | $__________________ | _______________ |
| Income Taxes | $__________________ | _______________ |
| Property Taxes | $__________________ | _______________ |
| Federal Estate Taxes | $__________________ | _______________ |
| Debts of Decedent | $__________________ | _______________ |
| Attorney’s Fee | $__________________ | _______________ |
| Appraiser’s Fee | $__________________ | _______________ |
| Accountant’s Fee | $__________________ | _______________ |
| Trustee’s Fee | $__________________ | _______________ |
| Other | $__________________ | _______________ |
| Total | $__________________ | _______________ |