Liquidating inventories in maine

Inventory costs are a major expense for many businesses, and even the most effective inventory control procedures can leave executives cringing at the figures on cost reports.There are many best practices that enable companies to gain tighter control over their inventory, and as a result, the associated costs. For more information on how companies can realize an enhanced federal tax deduction on donations of excess inventory, contact NAEIR at (800)-562-0955 or [email protected], or visit Examples of assets included in the probate estate include real estate property titled in the decedent's name and sole bank accounts.Next, the executor must list all of the decedent's and estate's outstanding debts, including the costs of managing the estate and the funeral expenses.Follow your checklist to confirm that you have performed each step of the probate process.However, in some cases it may be a good idea to retain a professional to assist you with your duties.

To gain some insight into the best strategies for cutting and regaining control over inventory costs, we asked a panel of executives and inventory managers to answer the following question: “What’s the single most effective way to lower inventory costs? Over 7,000 corporations across the United States have donated merchandise to NAEIR to support schools, nonprofits and charitable organizations while at the same time taking advantage of tax deductions and reducing storage costs.Probate is a process in which a court assesses the validity of a will, appoints someone to oversee the management of the estate, ensures the deceased person’s debts are paid, and makes sure all remaining estate property goes to the proper beneficiaries of the deceased.Part of that process may require the sale of assets that are in the probate estate.If this process reveals that the estate's liabilities exceed its cash assets, the executor will be forced to sell other estate property.

Once an executor has established that estate's debts exceed the estate's available cash, he must file a petition with the supervising probate court asking for permission to sell estate property.

The executor does not decide which assets to sell; the will or state law will normally define which assets to sell to settle estate debts.