What is the name of your state? California
I have been named personal representative in an estate, I am also one/half beneficiary. The estate assets are made up of 1) a car 2) a brokerage account over $250K of value 3) small bank acct. My attorney is telling me that I MUST pay for a court referee a fee of $271.87 (.1%) of the brokerage assets. Here's the rub, I have the EXACT values of the stocks in the brokerage account because the DOD, date of death, is the ending date of a month so it is published, shown on the statement what the value of the stocks are as of that date. Why does the estate have to pay for a referee to value stocks that are traded on an exchange and that are on a brokerage statement? Help! I understand the car needing to be appraised but the stocks, I don't understand other than it's a rip- off. I've also posted another thread regarding the car/auto and would really appreciate a response. I posted it on 6/19/2007.
I have been named personal representative in an estate, I am also one/half beneficiary. The estate assets are made up of 1) a car 2) a brokerage account over $250K of value 3) small bank acct. My attorney is telling me that I MUST pay for a court referee a fee of $271.87 (.1%) of the brokerage assets. Here's the rub, I have the EXACT values of the stocks in the brokerage account because the DOD, date of death, is the ending date of a month so it is published, shown on the statement what the value of the stocks are as of that date. Why does the estate have to pay for a referee to value stocks that are traded on an exchange and that are on a brokerage statement? Help! I understand the car needing to be appraised but the stocks, I don't understand other than it's a rip- off. I've also posted another thread regarding the car/auto and would really appreciate a response. I posted it on 6/19/2007.