Hello, it's Tim Kalinin here. Welcome to the second edition of the Conservative Income Investor podcast. Today, we're going to talk about settling an estate. If you agree to be someone's executor and you're in charge of distributing their estate when they die, what's the lay of the land? What step-by-step is it that you just agreed to do? For today's podcast, I broke it down into 13 steps. Whether it is that you need to do as the executor of the estate, step one is to oversee the funeral arrangements. Now, in most states, the rule is that the person's spouse gets to determine expenses. If you're a spouse who's also the executor, no big deal. You determine the expenses. If the spouse is alive and you're the executor, your role is only oversight. The spouse gets to decide the funeral arrangements, but you get to oversee to make sure that it's not unreasonable. Now, in the eyes of the law, unreasonable is a very high hurdle to meet. So, if someone has a $20,000 or $25,000 funeral and the average in the area is twelve or thirteen thousand, that's not going to be counted as unreasonable. That's going to be the high end of reasonable for a funeral. To be unreasonable, we're talking something that you've never seen before and they're just spending a lot of money, especially compared to the assets of the estate. I mean, we're talking taking an Abraham Lincoln by force from Washington, D.C. to Springfield. That's the kind of thing. I mean, it has to be something way out there. I mean, funeral expenses are almost never contested, but you do have an oversight role. And if they are higher than usual, that is something that you would be responsible for. Also, if...
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