Texas | Wills and Trusts
Legal Question
My mother passed away the end of June and one of her assets was a regular brokerage account with Smith Barney consisting of Mutual Funds and CD's. It has ended up having to go through probate which is still ongoing. Is there a set legal date in which the value of the account is taken for distribution purposes, such as the value on the day of death or perhaps the date Smith Barney obtains a copy of the death certificate. The reason I ask is because we feel the account CPA and the attorney have been dragging their feet and in the meantime the account has lost about 30K in value.
Also, my sister is the executor of the estate. Once the account is released, will it be the executor or some probate attorney who is responsible for distributing the proceeds according to the will? Am I correct in thinking that the only responsibility of the account CPA is to close the account out and release the proceeds over to the executor for distribution?
Thanks for your response
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Read More Answered By: Bob Leonard |
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