Handling Probate Fiduciary Accounts

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Summary

For managing fiduciary accounts in Montgomery County, Ohio probate, list the cars value under assets in the initial inventory. Record the sale under receipts and show the profit as the difference between the sale price and the car’s listed value. For proceeds from the sale of personal property, list the total sale amount, date, and buyers details if required. If no personal property has been sold, enter None or Not applicable. Include the profit from the car sale under Receipts - Income. Sum all individual receipt amounts for the Total Receipts section to reflect all recorded income and sale proceeds accurately.

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on the fiduciary account. Where do I show the value of a car and then where do I show the selling of the car and how do I show a profit?
Hello Addy,
Here’s how you can handle the car in a fiduciary account for Montgomery County, Ohio probate:
- **Show Value of Car:**
- List the car under assets in the initial inventory.

- **Show Selling of Car:**
- Record the sale under receipts in the accountings.
- **Show Profit:**
- The profit is the difference between the sale price and the car’s listed value. Show this under gains or income.
If you need additional assistance, please feel free to ask!
What do I put under the receipts proceeds from sale of personal property?
Hello Addy,
For receipts from the sale of personal property in a fiduciary account for Montgomery County, Ohio probate:
- **Proceeds from Sale of Personal Property:**
- List the total sale amount received.
- Include the date of the sale.
- Mention the buyer's details (if required).
If you need more specific guidance, please let me know!
Under the receipts personal property not sold. What do I put there?
Hello Addy,
For the section "Receipts - Personal Property Not Sold" in a fiduciary account for Montgomery County, Ohio probate:
- **Receipts - Personal Property Not Sold:**
- Enter "None" or "Not applicable" if no personal property has been sold that accounts period.
If you need further clarification, feel free to ask!
Under the receipts income. Do I put the profit of the car there?
Hello Addy,
For the "Receipts - Income" section in a fiduciary account for Montgomery County, Ohio probate:
- **Receipts - Income:**
- Yes, you should include the profit from the sale of the car here.
- The profit is the difference between the sale price and the car’s listed value.
If you need more specific guidance, please feel free to ask!
on the receipts, total receipts. What do I put there?
Hello Addy,
For the "Total Receipts" section in a fiduciary account for Montgomery County, Ohio probate:
- **Total Receipts:**
- Sum all individual receipt amounts (including proceeds from sales, income, etc.).
- Ensure the total reflects all recorded income and sale proceeds accurately.
If you need more specific guidance, please let me know!