How are assets valued when distributed in kind on termination from a living trust?

Get Legal Help Today

 Secured with SHA-256 Encryption

How are assets valued when distributed in kind on termination from a living trust?

I am beneficiary of living trust. Per the trust agreement I am entitled to real estate, which was appraised. My brother is entitled to a stock distribution equal to the value of the real estate. He wants to value his stock distribution at date of death. The stock has appreciated since date of death. I think the stock should be valued at fair market value on the day that he receives his distribution. Which way is correct and what does MO law say on this?

Asked on June 8, 2011 under Estate Planning, Missouri

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

I am assuming that your property was appraised as of the date of distribution, correct?  For specifics on the law you need to speak with an attorney in your area - and I would suggest an accountant as well.  While the assets in an estate proceeding are valued as of the sate of death, assets in a trust are generally valued as of the date of distribution.  The basis for the assets (for accounting purposes) should be considered the date of death value.  But again I really think that it would be best for you to discuss this matter with an accountant in your area that deals in estate work and trust distribution. Good luck to you.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption