At what value should an estate be paid off?

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At what value should an estate be paid off?

My dad died in 2003.
He did not have a will
in the state of Texas
the property was
divided in half. My
mom paid off four of
his six children. But
she has not paid off
the other two which is
her two kids she wants
to pay us off now, do
she use the value of
the property in 2003
or do she use the
current value now?

Asked on November 6, 2017 under Estate Planning, Texas

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

The value at the time of death is what would be used. Even if turning the money over ("paying off") was delayed, the entitlement to the money arose when your father passed away. Since that is when the right to assets accrued, that is when their value would be determined.


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