After closing an estate, the most gratifying task for an acting executor is to close the temporary home office. Typically, after satisfying all the rules of probate in a formal probate process, the executor will close the estate. As a result, the executor becomes an acting executor responsible for closing tasks as described in the article Estate Income Tax Returns: Review and File the Returns. In the end, the one closing task an acting executor likes is the final task: the task to close the temporary home office.

Close the Temporary Home Office

The task of closing the temporary home office signals the definitive end to a long formal probate process. In addition, the task means the end of worrying about expenses, distributions, and beneficiaries for the acting executor. However, the final task still has a component to it that needs attention before closing the temporary home office.

As mentioned in the article Set up the Home Office, a temporary home office becomes necessary to make the estate administration more efficient. Additionally, the key component to the home office is the makeshift filing system using storage boxes. So, before an acting executor can close the temporary home office, the acting executor must ensure the following:

• Filing all important documents of the estate in the proper storage box.

• Verify that copies of all tax returns completed for the estate are in the proper storage box.

• If the decedent filed amended returns three years or less before death, verify that those returns are in the proper storage box.

Additionally, the acting executor will need to keep some documents available outside of the makeshift filing system. Even after settling an estate, there may be requests for documents such as death certificates. Accordingly, the acting executor should keep the following documents accessible:  

• Death certificates.
• Executor approval letter.
• Any estate closing documents.
• Original IRS Tax Id forms.

Once all the important documents of the estate are in the proper storage boxes, the acting executor should cover them up and store the boxes for at least seven years. By putting the storage boxes in storage, the temporary home office ceases to exist. In addition, the acting executor becomes the former executor.

Conclusion

The article is a depiction of the temporary home office used in my estate administration. Although the system worked well for me, the fact remains that not all estates are the same. Typically, it’s up to the executor to determine the administrative requirements of the estate. 

However, in a formal probate process, an executor will handle numerous documents. If the executor takes the time to develop an efficient temporary home office, in the end, the task to close the temporary home office will be simple and gratifying.

Was this article helpful? Do you know why estate documents require at least three years in storage? Do you know of a better temporary office system? Share your comments or questions in the comment box below.