Legal Question in Real Estate Law in Texas

When to value stocks and funds
Person dies leaving 5 beneficiaries. One has
already received a house valued in the will at $100,000. Estate includes stock and mutual funds and property. Will essentially states that other four are to receive $100,000 before the one person receives anything else. After that, the remainder is divided equally among the five. Executor
will transfer ownership of all stocks and funds to four persons which will almost equal their $100000. These assets will be transfered by assigning new owners to the stocks and funds. Now the question: to provide the $100000
to the four persons, is the value of the transfered assets taken as the value of each asset on the date of ownership change of the asset or on the date of death of the bequestor? The will did not state that these stocks and funds must be used to make up the $100000. If the stocks and funds are valued when ownership is transferred the four beneficiaries will receive more than if valued on date of death. So which value to use to make up the $100000? I have received one opinion and am seeking another!

Asked on 2/18/04, 9:39 pm

Cheryl Rivera Smith The Smith Law Firm

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Re: When to value stocks and funds

Assets are valued as of the date of death of the decedent.

Answered on 2/19/04, 10:03 am

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