Feldkamp estate inventories - shocking

On October 3 the executor for the Estates of John G. (Jack) Feldkamp and of Audrey Feldkamp filed Inventories. Because these estates are in probate, all records are public.

In this case I'll say it's a good thing that the records are public.

I looked at the inventory for Jack's Estate first (11PR000216).

Home*, no estimated value, in foreclosure.
Harmony Real Estate (the business), value unknown, in foreclosure (the business is in foreclosure?)
Harmony Real Estate building, $295,000 value; $125,000 indebtedness

Three land development ventures were named (Whisky Creek land, Blackstone Subdivision land, Liberty Arbour (sic) land.

And two claims by West Asset Management ($947.40 and $239.52).

* As I recall, the home was in Audrey's name, not in John's. The real estate property tax records show Audrey's name (only).

No mention of household furnishings, his car, checking and savings accounts, investments, cash, jewelry, art, or any other liquid or non-liquid funds as of the date of death, June 7, 2011).

Is the executor going to determine what the total value was of assets at the time of death and start asking questions about what happened to everything between June 7, 2011, and his date of appointment (September 6, 2012)? There have been three executors, and two of them never got their hands on anything.

Judge Chmiel ought to be asking some very hard questions about what happened to assets during the term of the first executor, Scott Feldkamp. To what extent were they inventoried, secured, protected, insured and preserved?

In Audrey's Estate (11PR000175) there is reference to Harmony Real Estate (not owned by Audrey) and that the present executor, Attorney Carl Gilmore, has found only one (banking) account statement at the real estate company.

What happened to bank accounts in Audrey's name and any investments (bonds?) in her name. What about jewelry and personal possessions? What happened to her car? What about the antique pool table? And the big doll house?

In the Court record was this statement: "The expectation is that the parties will review the inventory and, perhaps, provide statements showing unidentified assets. Further investigation may reveal other assets as well."

The executor comments on a foreclosure action on the Harmony Real Estate property and the apparent equity there, but that there are no funds to protect it.

Harmony Real Estate was apparently a partnership between Jack (98%) and Scott (2%) Feldkamp. The executor informed the Court that the partnership effectively ended upon Jack's death and that the business should be wound up.

The executor also informs the Court that "The residence is occupied by an unknown third party. It is believed this 'squatter' received permission to occupy the residence from Scott Feldkamp while he was the administration."

The latest executor was appointed on September 6. The residence may be worth $300,000 in the current real estate market. How could a "squatter" still be in the residence and unidentified? Man alive! Even I know who he is! Apparently, the property hasn't been inspected yet, if the squatter's name isn't known. How can it be occupied by an unknown person? Is it insured?

For the family home on Somerset (PIN 17-07-276-001), the Fair Cash Value on the tax rolls is $377,091. The 2011 Tax Bill was paid; the first half was paid on June 6, 2012, and the second half was paid on August 31, 2012. The taxes were paid by the mortgage company.

Did anyone protest this year's assessment? That would be the job of the executor.