The Lambertville record. [volume] (Lambertville, N.J.) 1872-1968, 1926-04-01
STRAIGHT TALKS
WITH AUNT EMMY
ON HOW TO LEAVE AN ESTATE

"Do yon know, Aunty." said Helen,
as she accepted cup OF tea from
Aunt Emmy, Il feel terribly sorry for
Mrs. Strong"
yes" agreed Aunt Emmy. sit will
be hard for her She is such de-
pendent, helpless. little thing.
"Oh, don't mean that" interrupt
ed Helen Her feelings are so hurt
because. as she says, her husband
publicly insulted her by not making
her executrix and trustee of his es-
tate"
Good gracious, child, did she say
that!" exclaimed Aunt Emmy. setting
her cup down with a bang
Yes, she did. Aunty." said Helen
enjoying the sensation she had made
and determined 10 make the most ..
it, land I'm sure agree with her
The idea of that old man appointing
a trust company to look after Mrs.
Strong's money II isn't as though
there wasn't plenty of it. The Strongs
are the richest people in town,
guess"
well, for mercy's sakes!" cried
Aunt Emmy, disgust in every syllable,
''if it don't beat all! You are as big
a fool as she is them"
What do you mean, Aunt Emmy"
asked Helen with dignity. Il think
it nothing short Of disgraceful for a
man to show that he has no conf
lence in his wife by putting his money
in strangers hands to be doled out to
her as they see fit"
"You never thought that up, Helen"
said Aunt Emmy. that's Mrs Strong.
She always talks as though she was
living in story book, poor. silly, little
thing"
Helen blushed and Aunt Emmy went
on-"Do you know what 1t means to
administer an estate. especially big
one like Mr.. Strongest"
why. no" stammered Helen, but
1t must be simple"
Aunt Emmy shifted. Simple! Let
me tell you a little about 1t. When a
man dies the things he owns cease for
time to be anybody's property and
become his estate. The property passes
from his control on his death natu-
rally, and as his estate it is controlled
and supervised by the Court which
will be in charge of the estate for
many months probably First this
Court finds out whether or not there
Is a will and If the will is valid, Then
1t must find out about the executor.
If the will is properly drawn and valid,
1t will be admitted to probate The
persons who Witnessed 1t must be
found and examined.
THE executor must satisfy the
curt as to fitness and willingness
perform the many arduous duties
involved. Perhaps he will have to
furnish bond, to assure the Court OF
his financial responsibility. lie must
assemble all the so-cal cd assets, have
them valued and file an IN, ntory and
appraisal of them with the Court. Al
the debts against the estate must bS
collected The settlement of al
claims against persons and corpora
ions is job no oAe vi lut thor
lugh knowledge of business can un
dertake.
In an estate like MIR. Strong's there
sure 10 be certain amount OF
financial negotiation that demands
banking knowledge. Then he ex
.cutor must pay claims against the
state in the order of precedence laid
Town by law. Also you know state
inheritance and federal estate taxes
must be met promptly. Finally, after
he estate is settled as to claims II
las and claims against it, the execu
or must see that the various be
uests are made"
"Oh, Aunty, don't tell me any more
| never thought that there were Sc
many complicated things to be done
Poor Mrs. Strong never knew thing
about BUSINESS"
Mr.. Strong knew that remarked
Aunt Emmy dryly land don't you sup
Ose he had his children in mind, too
He wanted his estate handled so that
he children and Mrs. Strong would
1e protected and assured of good
comfortable living all their lives, with
something to go on to the grandcbil
ren. Even II Mrs. Strong were a
BUSINESS woman. no one could tell
ow long she would live to administer
he estate He knew that the trust
ompany would not die. nor lose its
aculties, nor be influenced by personal
ceiling so that it might be unjust to
q ONE one, and that 1t represents some
If the best business and banking
Judgment in town"
well, | guess old man Strong knew
what he was doing!" said Helen
nne b. Aymes.
A.