FAQs: Will or Estate

1. I am the executor of an estate. Do I report the assets?

Only report the assets if you have a beneficial interest in the estate. You do, however, need to report any executor fees in Schedule A and your position in Schedule D, Part I. In addition, if your executor fees totaled more than $5,000 in the current calendar year or any of the preceding two calendar years, you need to report the estate as a source of income in Schedule D, Part II.

2. I am named as the executor in the will of a family member who is still alive. Do I report this position?

No.

3. Do I need to report particular assets within an estate that have not been distributed to me?

No. As specified in OGE Informal Advisory Opinion 02 x 2, OGE “requires that the financial disclosure report indicate only that the filer (or the filer’s spouse or dependent child) is the beneficiary of a particular estate that has not been distributed. The filer must identify the decedent, but need not attempt to identify specific assets or report specific value or income categories. This level of disclosure recognizes that filers have an interest, and it alerts ethics officials to the need to provide counseling, as appropriate, about possible conflicts issues. However, this approach does not require filers to provide more specific information that may be difficult or impossible to ascertain, or that could even present a misleading picture of the true interest the beneficiary ultimately may receive after distribution of the estate.”

With regard to the identification of the decedent, note that you may write “Estate of a Family Member” when the decedent is a family member, as explained in this guide.

 

This guide is not intended to provide investment advice, and you should not rely on statements in this guide when making investment decisions.

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