The firm is currently in the middle of probating the estate of Frank Nussbaum. You have taken over the case from a paralegal who has recently left the firm and need to review her work to ensure the documents are accurate. When you review the inventory you notice some discrepancies. Below is a PDF of her work:

 

Transcribed Image Text:

Approved, SCAO STATE OF MICHIGAN PROBATE COURT COUNTY OF ANYWHERE In the matter of 1, Larry Moe Frank Nussbaum First, middle, and last name Legal description of real property Name (type or print) and accurate inventory of all the assets of the estate and the fair market valuations as of Description of personal properly rings Description of personal properly chairs PERSONAL PROPERTY AND REAL PROPERTY DESCRIPTION If property has been used to secure a loan (including an equity line of credit), show the nature and amount of the lien. Definitions and instructions for completing the inventory are below and on the other side of this form. The values of all property are calculated as of the decedent's date of death. *For real property only, if the date of death is on or after March 28, 2013, the gross value of a parcel can be reduced by any lien amount on that parcel; however, the remaining inventory value of that parcel cannot be less than zero. For personal property, the gross value and inventory value are the same. (Attach separate sheet if necessary.) Inventory value (less lien)* Legal description of real property Gross value Lien amount land 50000 Inventory value (less lien)* Description of personal property bank accounts Description of personal property life insurance Description of personal property stocks Description of personal property mutual funds Totals Attorney signature INVENTORY □ AMENDED (DECEDENT ESTATE) Attorney name (type or print) Address Cily, slate, zip Bar no. Telephone no. , personal representative, submit the following as a complete 1/25/2018 Date of death PC 577 (9/16) INVENTORY (DECEDENT ESTATE) 100,000 Gross value Gross value 100 Gross value 50 Gross value 1548 Gross value 10000 Gross value 157845 Gross value 451244 Total Gross Value 720787 Date FILE NO. 18-2015 Signature Name (type or print) Address I declare under the penalties of perjury that this inventory has been examined by me and that its contents are true to the best of my information, knowledge, and belief. City, state, zip |50000 Lien amount Lien amount Lien amount Lien amount Lien amount PCS CODE: INV TCS CODE: INVF Lien amount Lien amount Inventory value 1000 Inventory value 50 Inventory value 11548 Inventory value 10000 Inventory value 157845 Inventory value 45124 Total Inventory Value 45124 Telephone no. USE NOTE: If this form is being filed in the circuit court family division, please enter the court name and county in the upper left-hand corner of the form. Do not write below this line - For court use only MCL 700.3706, MCL 700.3707, MCR 5.307, MCR 5.310, MCR 5.409(B) Approved, SCAO STATE OF MICHIGAN PROBATE COURT COUNTY OF ANYWHERE In the matter of 1, Larry Moe Frank Nussbaum First, middle, and last name Legal description of real property Name (type or print) and accurate inventory of all the assets of the estate and the fair market valuations as of Description of personal properly rings Description of personal properly chairs PERSONAL PROPERTY AND REAL PROPERTY DESCRIPTION If property has been used to secure a loan (including an equity line of credit), show the nature and amount of the lien. Definitions and instructions for completing the inventory are below and on the other side of this form. The values of all property are calculated as of the decedent's date of death. *For real property only, if the date of death is on or after March 28, 2013, the gross value of a parcel can be reduced by any lien amount on that parcel; however, the remaining inventory value of that parcel cannot be less than zero. For personal property, the gross value and inventory value are the same. (Attach separate sheet if necessary.) Inventory value (less lien)* Legal description of real property Gross value Lien amount land 50000 Inventory value (less lien)* Description of personal property bank accounts Description of personal property life insurance Description of personal property stocks Description of personal property mutual funds Totals Attorney signature INVENTORY □ AMENDED (DECEDENT ESTATE) Attorney name (type or print) Address Cily, slate, zip Bar no. Telephone no. , personal representative, submit the following as a complete 1/25/2018 Date of death PC 577 (9/16) INVENTORY (DECEDENT ESTATE) 100,000 Gross value Gross value 100 Gross value 50 Gross value 1548 Gross value 10000 Gross value 157845 Gross value 451244 Total Gross Value 720787 Date FILE NO. 18-2015 Signature Name (type or print) Address I declare under the penalties of perjury that this inventory has been examined by me and that its contents are true to the best of my information, knowledge, and belief. City, state, zip |50000 Lien amount Lien amount Lien amount Lien amount Lien amount PCS CODE: INV TCS CODE: INVF Lien amount Lien amount Inventory value 1000 Inventory value 50 Inventory value 11548 Inventory value 10000 Inventory value 157845 Inventory value 45124 Total Inventory Value 45124 Telephone no. USE NOTE: If this form is being filed in the circuit court family division, please enter the court name and county in the upper left-hand corner of the form. Do not write below this line - For court use only MCL 700.3706, MCL 700.3707, MCR 5.307, MCR 5.310, MCR 5.409(B)

Answer rating: 100% (QA)

Answer Upon reviewing the inventory there are a number of discrepancies identified The value of the real property located at 123 Main Street Anywhere TN 78282 has been undervalued It is stated in the ... View the full answer