Legal Question in Wills and Trusts in California
the will reads to distribute properties among 5 children equally at time of death. it is now 2.5 years later nad the values have decreased. can we distribute at todays values instead of time of death?
1 Answer from Attorneys
I suggest you contact an estates and trusts attorney to assist you with this matter.
The short answer to your question is, when the "property" is distributed through probate, it will be distributed at its current value.
Additional information is necessary to fully and accurately answer your question.
First, has anyone filed a petition to initiate probate proceedings? If this has not already been done, you must first Petition to have a personal representative of the deceased person estate named, and to start the Probate of the Will. The petition is usually filed with the court with jurisdiction over the final residence of the deceased party.
Also, when you say "properties" are you referring to personal property (cash, bank accounts or other tangible items), or real property (land or a house)?
-Shoham Solouki, Esq.
(818) 943-5115
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