January 13, 2014 – Newsletter
Think about it a minute: (Quotes from Steven Wright)
…What’s another word for Thesaurus?
…It doesn’t make any difference what temperature a room is, it’s always room temperature.
…Everything is walking distance if you have the time.
Estate Documents – what to provide to the FAA
Letters Testamentary or Letters of Administration
Letters Testamentary is the formal instrument of authority and appointment given to an executor by the proper court, empowering the executor to enter upon the discharge of his duties as executor. An executor is appointed in a person’s will to carry out the direction and requests of the will and to dispose of the property according to the provisions of the will.
Letters of Administration are issued by a court to a person to collect the deceased’s assets, pay the debts, and distribute the residue to those entitled; this person is similar to an executor, but, an administrator is appointed by the court, and not by the deceased, and usually has to give security for the due administration of the estate by entering into a bond.
The executor or administrator may be one or more individuals or corporations.
Each county of each state may have a different format to evidence the appointment of persons designated to act on behalf of estates. “Personal Representative” is used by some instead of the designation of executor or administrator.
The settlement of an estate consists of its administration by the executor or administrator to the extent that all debts and legacies have been paid. The executor or administrator executes the documents and conveyances to make the distribution.
Because of the time involved in the settlement of an estate, an executor or administrator may register an aircraft to permit continuation of its operation.
An original, a certified true copy, or a photocopy of a certified copy of Letters Testamentary or Letters of Administration may be accepted by the FAA. A faxed copy is acceptable if it’s a copy of a “court certified” copy.
The accompanying application for registration shows the name of the executor or administrator as the applicant followed by their designation as executor or administration, i.e.: Applicant: Mary Doe, Personal Representative (or Executrix or Administrator) of the estate of John Doe, Deceased.
When the asset is sold, the bill of sale is signed this way:
Seller: Estate of John Doe, Deceased, by Mary Doe, Personal Representative (or Executrix or Administrator).
FAA and IR UPDATE
Federal Holidays for 2014
The FAA will be closed the following days in 2014:
Wednesday January 1, 2014 – New Years Day
Monday January 20, 2014 – Martin Luther King Day
Monday February 17, 2014 – President’s Day
Friday July 4, 2014 – Independence Day
Monday September 1, 2014 – Labor Day
Monday October 13, 2014 – Columbus Day
Tuesday November 11, 2014 – Veteran’s Day
Thursday November 27, 2014 – Thanksgiving Holiday
Thursday December 25, 23014 – Christmas Day
Why is customer service a puzzle to some businesses? You just have to be present 100%; embrace urgencies and really care about your work and your customers. That’s all.