Section 5.11 In General

• Library: Estate Administration 2014 Supp

A. (§5.11) In General

As pointed out in George G. Bogart & George T. Bogart, The Law of Trusts and Trustees § 571 (rev. 2^nd ed. 1980), the personal representative of a decedent who has been engaged in a business, particularly a sole proprietorship, is faced with a difficult decision as to its disposition. Under some circumstances, it may be best to discontinue the business and sell its assets; in other situations, an advantage to the estate may be gained by continuing its operation to preserve good will...