Legal Question in Wills and Trusts in Texas

I am an independent executor and am trying to wrap up an estate. One of the beneficiaries has not complied with a request to return estate assets. Can we determine fair market value for those items and reduce disbursements by that amount? Will states assets to be divided in a fair and equal matter between beneficiaries.


Asked on 10/09/11, 7:09 am

1 Answer from Attorneys

Brian Thomas Burdette & Rice PLLC

I'd feel more comfortable allocating to the reluctant beneficiary the fair market value as of the date of death. This is, after all, the value of the asset(s) that you reported on the Inventory that I assume you've filed and the Court has approved. To be perfectly clear, however, you really need to retain representation at this point, if you've not already. The vast majority of Texas courts will not permit an individual to act as the representative of an estate without being represented by counsel, for reasons just like the one that generated your inquiry.

Read more
Answered on 10/10/11, 9:59 am


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Texas