An Affidavit of Domicile is a notarized form stating the legal residence of a deceased person. It is executed by an individual familiar with the facts, such as an executor, survivor, or attorney. This document is often required when a shareholder dies while residing in a state different from the address on the account.
The Alternate Valuation Date is a date six months after the date of a person's death. For estate tax purposes, the executor may choose to place a value on the estate either as of the date of death or on the alternate valuation date. To use the alternative valuation date, the estate value and tax must be less than on the date of death.
An executor is a person appointed in a will to administer the estate of a deceased person, ensuring that assets are distributed and liabilities are paid as per the instructions in the will.
An Executor (male) or Executrix (female) is a person designated to carry out the wishes expressed in a Will regarding the administration of an Estate and the distribution of the assets.
A fiduciary is a person, company, or association holding assets in trust for a beneficiary, with the responsibility of investing the money wisely for the beneficiary's benefit.
A Legal Representative is an individual tasked with overseeing the legal affairs of another person or taxpayer, such as an executor or administrator of an estate.
