Do Assets Need to Be Appraised Again if Distribution is Delayed

**RickKC** · 06-24-2012, 07:44 PM

My question involves estate proceedings in the state of: California

My brother's estate has not been settled after two years because one of the two beneficiaries has been in jail and has not agreed to a settlement. He wants to settle now. Are the assets divided between he and his sister based on the original appraisals or do they have to be reappraised to reflect the actual values now? These items include real estate and vehicles.
Thanks in advance!

**Mr. Knowitall** · 06-25-2012, 11:09 PM

The incarceration of a beneficiary would not have prevented the administrator from seeking court approval for the distribution of the estate.

What was done in relation to the estate? Formal appraisals were performed? An accounting of the estate's assets was filed? The concern here is what - the residue of the estate, which is to be equally divided per the terms of the will?

**RickKC** · 06-28-2012, 04:14 PM

The sister and her attorney did not force the incarcerated beneficiary to accept a settlement through the court but that is another issue. There were formal appraisals and and accounting done at the time of death for the trust. A judge appointed the sister sole executor. The concern is that though there was a plan based on the various values of the assets to split things up 50/50, now everything has depreciated by varying amounts. The sister contends that things can still be divided up using the time-of-death values. I would think that after two years, everything would have to be re-appraised and a new settlement figured out. The question is, who is right?

Thanks for your reply!

**Mr. Knowitall** · 06-28-2012, 04:45 PM

If the heir disagrees with the administrator's proposed distribution, he is free to bring a motion with the probate court objecting to the proposed distribution, supported by appropriate legal authority and evidence that the appraisals are no longer sound and that the distribution is unfair. I expect that the administrator will respond that the appraisals were fair and reasonable, that the timing of the appraisals is reasonable even though some assets may have since appreciated or depreciated, that paying for new appraisals would needlessly consume estate assets, and that the person seeking reappraisal was the person who caused distribution to be delayed and is thus responsible for creating the situation he's complaining about.