Legal Question in Wills and Trusts in North Carolina

car in estate

I am the executor of my father's estate. he had a car that i had appraised for 2500 dollars. i gave it to my brother. now one of the ones in the will is contesting the value of the car. she says it should have been worth more. what are my respnosiblities as executor in nc. the rest of us in the estate are satisfied with the value asappraised.

I am planning to give her her portion of the appraissed value of the car. this would be only about 800 dollars.

thanks,

gregory


Asked on 9/28/04, 2:35 pm

1 Answer from Attorneys
Dan Brady Brady, Nordgren, Klym & Morton, PLLC

Re: car in estate

Your obligation is to value the car at fair market value. We typically go by the "Blue Book" value. If your appraisal differs significantly from the Blue Book value, the reason for the variance should be well documented in the written appraisal. Should there still be a question, I suggest that you let the Clerk of Court resolve the conflict.

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Answered on 9/29/04, 9:17 am


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