How are assets valued when distributed in kind on termination from a living trust?
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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 13 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.
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