Cliff Kelley live at the radio station WVON 1690 AM.

What is the Value of the Trust?

To carry out their duties properly, trustees must first ascertain the value on the date of each asset held in trust. This requires an inventory and appraisal of trust assets. One reason for this is to determine the net worth of the decedent, and determine whether federal estate taxes apply. Once the trustee has an accurate inventory of items in the trust, he or she must update the inventory list as items increase or decrease in value.