Benefit of inventory

BENEFIT OF INVENTORY, civil law. The benefit of inventory is the privilege which the heir obtains of being liable for the charges and debts of the succession, only to the value of the effects of the succession, in causing an inventory of these effects within the time and manner proscribed by law. Civil Code of Louis. art. 1025. Vide Poth. Traits des Successions, c. 3, s. 3, a. 2.

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One often overlooked benefit of inventory contributions is the waiver of the appraisal requirement that otherwise applies to gifts of property with a value exceeding $5,000.
Sluggish top-line growth will dampen earnings momentum for the industry as the benefit of inventory and expense reductions achieved in 2002 will be difficult to repeat.

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