The midland journal. (Rising Sun, Md.) 1885-1947, 1926-02-05
STRAIGHT TALKS
WITH AUNT EMMY
ON HOW TO LEAVE AN ESTATE.

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Aunt Emmy. Il feel terribly sorry for
Mrs. Strong"
Eyes," agreed Aunt Emmy, sit will
be hard for her. She is such a 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 bang.
Eyes. she did. Aunty." said Helen.
enjoying the sensation she had made
and determined to make the most OF
1t, "and I'm sure ! agree with her.
The idea OF that old man appointing
a trust company to look after Mrs.
Strong's money. 1t isn't as though
there wasn't plenty of it. The strongs
are the richest people in town. i
guess"
"Well. for mercy's sakes!" cried
Aunt Emmy, disgust in every syllable.
''if it don't beat all! You are as big
fool as she is then!"
What do you mean, Aunt EMMY"
asked Helen with dignity. II think
it nothing short of disgraceful for a
man to show that he has no conf
dence in his wife by putting his money
in strangers hands to be doled out to
her as they see ft."
"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
it must be simple"
Aunt Emmy smiled. "Simplei Let
me tell you little about it. When .
man dies the things he owns cease for
a 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 foI
many months probably. First this
Court finds out whether or not there
is will and II the will Is valid. Then
it must find out about the executor
II the will is properly drawn and valid.
1t will be admitted to probate The
persons who Witnessed It must be
found and examined. -
''The executor must satisfy the
Court as to fitness and willingness
to perform the many arduous duties
involved. Perhaps he will have to
furnish bond, to assure the Court Of
his financial responsibility. He must
assemble all the so-called assets. have
them valued and file an inventory and
appraisal Of them with the Court. AL
the debts against the estate must be
collected. The settlement of al
claims against persons and corpora
tons is job no one without a thor
ough knowledge CT business can un
dertake.
I'm an estate like Mr.. Strong's there
is sure to be a certain amount OF
financial negotiation that demands
banking knowledge. Then the ex
ecutor must pay claims against the
estate in the order of precedence laid
down by law. Also you know state
inheritance and federal estate taxes
must be met promptly. Finally, after
the estate Is settled as to claims II
has and claims against it, the execu,
tor must see that the various be.
quests are made"
"Oh. Aunty. don't tell me any more.
| never thought that there were so
many complicated things to be done.
Poor Mrs. Strong meyer knew q thing
about business"
"Mr. Strong knew that" remarked
Aunt Emmy dryly. ''and don't you sup
nose he had his children in mind. too?
He wanted his estate handled 30 that |
the children and Mrs. Strong would
be protected and assured of good,
comfortable living all their lives, with
something to go on to the sFandchil-
dren. Even If Mrs. Strong were a
business woman, no one could tell
how long she would live to administer
the estate. He knew that the trust
company would not die. nor lose ita
faculties, nor be influenced by personal
feeling so that 1t might be unjust to
some one, and that 1t represents some !
of the best business and banking
Judgment in town"