Is It A Done Deal After Distribution?

[davethewave]

California/ Is there still a course of action for a beneficiary after final distribution?

 

[adjusterjack]

Possibly.

More details are needed.

Like, why are you asking?

 

[davethewave]

Mom died Oct 2022. I don't have council because I can't afford it. Estate attorney says he's filing petition to close and distribute, but I haven't seen any accounting, or what my distribution will be.
I thought I would first be able to look over the accounting and how they came up with the amount I'll be getting.
Will probate finalize and distribute without me being able to approve or dispute the executor and her attorneys' version of how the estate will be split?
It's supposed to be 50/50. My sister (executor) and myself. Estate totals 1.2 million. I was told about a year ago I should get about 200k, plus a house that my mom purchased for me in 2014 for 140k when the housing market crashed. May have been 2009. Anyways, things were looking really good for me. I'd be getting a 500k house that's paid for. Then she deteriorated at age 96. She was getting low on funds so my sisters' husband (who thinks I'm a scumbag) came up with the idea of taking out a loan on the house for 300k. Mom only lived about 6 months. She died at 97. There should be 200k left over from the loan that I think is not being accounted for.
So, it's very important that I am able to see their figures.

 

[adjusterjack]

Have you asked to see the accounting before it's finalized?

With what result?

Here's the part of the CA Probate Code that you want to look at:

Codes: Code Search (ca.gov)

Specifically 10901:

"On court order, or on request by an interested person filed with the clerk and a copy served on the personal representative, the personal representative shall produce for inspection and audit by the court or interested person the documents specified in the order or request that support an account."

If you ask for the accounting and don't get it, you can have the court assist you in getting it.

Or, you can wait until the estate is finalized and distributed. If you see evidence of wrong doing, at least you'll have some cash for an attorney to pursue the executor.

 

[Taxing Matters]

Generally the sooner you request an accounting (if you've never recieved one) the better. There may be a deadline for it in the CA statutes. Even if there isn't one, if you don't at least do it before the court closes the estate case because once that happens the court typically loses jurisdiction of the matter once the estate is closed, which either would mean you'd need to open a new case if your challenge to the accounting can still be done at that point, which may cost you more than doing it now, or it may be that once the estate is closed you lose all opportunity to do it. Note that generally its best to request it before the final distribution is approved by the Court so that you have time to object to the proposed distribution. In some states if you don't object to the distribution before it's done, you lose the chance to do it later.

 

[zddoodah]

Mom died Oct 2022.

When did the probate court issue letters testamentary to your sister as personal representative of the estate?

Estate attorney says he's filing petition to close and distribute, but I haven't seen any accounting, or what my distribution will be.

An accounting is required under the circumstances described in Probate Code section 10950, et seq. Did you or any other "interested person" ever file a petition to compel the filing of an accounting? If not, then there's no reason for any accounting to have been prepared. However, as set forth in section 10951, an accounting will be part of the closing petition. Putting aside the code, did you ever make an informal request for any sort of accounting?

I assume "estate attorney" means the attorney representing the court-appointed personal representative of the estate (i.e., your sister) and that "he's filing" means that the petition is still in the works. Correct?

Will probate finalize and distribute without me being able to approve or dispute the executor and her attorneys' version of how the estate will be split?

If you think there's something improper about the accounting that accompanies the closing petition, you can file an opposition.

It's supposed to be 50/50.

Is that pursuant to your mother's will? Or is that based on intestate distribution? I assume your mother was not married at the time of her death.

Estate totals 1.2 million.

Where'd you get that number?

I was told about a year ago I should get about 200k, plus . . . a 500k house that's paid for.

If the estate is worth $1.2M, why would you receive $700k worth of assets?

Also, in whose name is this house titled?

Then she deteriorated at age 96. She was getting low on funds so my sisters' husband (who thinks I'm a scumbag) came up with the idea of taking out a loan on the house for 300k. Mom only lived about 6 months. She died at 97.

Did your mother actually borrow money using the house as security?

 

[davethewave]

If the estate is worth $1.2M, why would you receive $700k worth of assets?
You're figuring I'm getting a 500k house. Which I'm not because of the 300k/ 30 year loan. If I were to sell the house I'd walk away with about 250k.
Which brings up another question. Is probate going to look at it like i'm getting a 500k house? My sister is getting 250k for her half of the house. Will the courts say i'm getting 500k or 250k ? Did your mother actually borrow money using the house as security?
Yes. But she only went through less than 100k. There was 200k left over from the loan and I have no clue as to where it is or if it's even been accounted for. My sis and attorney are keeping me in the dark about alot of things I think. Which is why no accounting has ever been produced Also, in whose name is this house titled?
Well, not mine as of yet. Where'd you get that number?
From the list of her total assets Is that pursuant to your mother's will?
50/50 Even Steven did you ever make an informal request for any sort of accounting?
I've asked sis attorney at least 5 or 6 times. They ignore my request every time. "he's filing" means that the petition is still in the works. Correct?
Yes. He's estimating sometime this summer for distribution

 

[zddoodah]

You're figuring I'm getting a 500k house.

I'm not figuring it. It's literally what you wrote: "I was told about a year ago I should get . . . a 500k house that's paid for."

Which I'm not because of the 300k/ 30 year loan.

Hence the reason I asked this question: "Did your mother actually borrow money using the house as security?" I guess this is your roundabout way of answering the question in the affirmative.

Is probate going to look at it like i'm getting a 500k house?

You didn't answer my question about whether your mother had a will (and, if she did have a will, I obviously don't know what it said). For the moment, I'll assume either that there was no will or that her will called for a simple 50/50 split of the net estate.

The accounting that eventually gets filed should indicate the following:

Assets:
1. Cash: $X
2. House located at 1234 Main St., Anytown, CA: $500,000 appraised value
- Less mortgage with balance of $300,000
- Net value $200,000
3. Other assets: $Y
TOTAL ASSETS: $X + Y + 200,000.

Then it will list any liabilities (other than the mortgage and will list the difference between assets at the time probate started and the present (i.e., expenses of estate administration).

Here's the other thing: Unless there's a will that expressly says the house goes to you or you and your sister expressly agree that you get the house in exchange for your sister getting other assets of equivalent value, then it should be sold and the proceeds added to the pot to be divided.

As I mentioned yesterday, once you get the accounting, you can scrutinize it and decide to challenge it or not.