Legal Question in Wills and Trusts in New York

distribution of stock in estate

There are executors. Will does not state distribution to beneficiaries in form of stock. 2 out of 3 executors want to liquidate stock and distribute in cash. Can the sale of stock be forced? Is the estate responsible for capital gain tax ?


Asked on 2/20/08, 12:17 pm

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: distribution of stock in estate

Executors can do anything that the Will allows. However, in these situations I usually suggest that they give the heirs the option of taking stock "in kind" and if some want it and others do not, I see the stock goes to those who want it and equalize value in cash to the others, selling only what is required to to provide sufficient cash so everyone receives what they are entitled to. While this is not required, it is usually workable.

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Answered on 2/20/08, 3:52 pm


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