Reference no: EM132932422

Problem 1: Tom is the executor of his brother Mitch's estate. Tom's responsibilities include:

A) Opening an estate checking and savings account

B) Completing an inventory of Mitch's safe deposit box

C) Valuing securities

D) All of the above

Problem 2: Sue is an executor of her mother's estate. As executor, Sue is generally required to do all but which of the following?

A) Distribute remaining assets

B) Pay taxes

C) Protect probate assets, and insure assets where appropriate

D) Value uncollected nonprobate assets not subject to estate or inheritance tax

Problem 3: The Executor has the responsibility to make all of the following elections except:

A) Date of death valuation of assets

B) Alternate valuation date of assets

C) All of the above

D) QTIP election