Legal Question in Wills and Trusts in California

I am one of the beneficiaries to an estate in Califonia, with a total value of just under $3,000,000.

The date of death was in 2009 but the executor says that the case may not be finalised by the end of 2010. A purchaser bid on and bought the house at court this week and all but one of the estate's investents have been marshalled. The institution concerned with the outstanding investment is apparently not responding swiftly enough to the executor (although I know that the bond matured in August 2010).

Some of the benficiaries are concerned that if/when the inheritance tax is reinstated in California in 2011, then the estate will become liable. Surely, the date of death is the determinant, not the closure date of the file? What would the situation be regarding any potential liablity to iheritance tax if the inheritance tax is reinstated in January 2011? Is there any othe tax we are unaware of with an estate of this value?


Asked on 9/25/10, 4:31 am

2 Answers from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Normally estate tax returns are filed 9 months after the decedent passes, and tax rates are based on the date of his or her demise.

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Answered on 9/30/10, 5:07 am
Jonathan Reich De Castro, West, Chodorow, Glickfeld & Nass, Inc.

The date of death is what is important. If the person died in 2009, while there was an estate tax in effect, than a tax may be due and a return, at least, will have to be filed. You have nine months from the date the person died, plus a six month extension if requested, to file the estate tax return. My firm specializes in estate tax matters and we would be glad to assist if the executor would like us to.

Jon Reich

310.478.2541

IMPORTANT NOTICE: The above response is not intended to, and does not, create an attorney-client, fiduciary or other confidential relationship with the responder. Neither does it constitute the providing of legal advice or services or the giving of a legal opinion by the responder. Such a relationship can only be created, and legal advice and/or legal services provided, pursuant to a written agreement with the responder. Accordingly, no obligations of any kind are assumed with respect to any matter or question presented. It should also be noted that legal issues are often time sensitive and legal rights may be lost or compromised if you do not act in a timely fashion.

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Answered on 9/30/10, 3:19 pm


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