Soil Water Movement Water movement in soil is from a zone of relatively high to low water potential. Movement may occur by saturated or unsaturated liquid flow or in the vapor phase. Total water potential under saturated conditions may include gravitational and pressure components.
Whether the taxpayer is insolvent is a vital consideration in determining if debt forgiveness results in income to the taxpayer. However, the code, IRS, and the courts have not provided an adequate definition of the term, and there is confusion as to what assets and liabilities are to be included in its determination.
An insolvent estate is one in which the debts are greater than the assets. Part of our ongoing series: What To Do When Someone Dies. If the estate is solvent, it becomes the primary responsibility of the Personal Representative or Executor of the Will to pay the bills owed by the estate.