Legal Question in Wills and Trusts in Louisiana
Is it necessary for real property of the decedent to be appraised? Estate is under federal estate tax threshold. Property may be sold in a year or two after date of death. Executrix wants to use decedent's arbitrary guess of value, which varied wildly from 2007 to 2008.
2 Answers from Attorneys
When the property is eventually put up for sale, it will have to be appraised as part of that transaction, but there is no reason to do it now.
I agree with Mr. Maguire. Every lawyer who has done successions, has placed an arbitrary value on real estate to place a value in the detailed descriptive list that is filed with the succession. Unless the succession has a great value, or many accounts or many pieces of property, then it should be concluded very quickly. There should be no reason for the executive to take much time obtaining a Judgment of Possession.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
