Not an IRA Question

Submitted by Aryn Sands on Tue, 2011-06-28 23:18

I can’t find any information on the web but people on this board my know the answer.

When calculating the probate estate value on a checking account, do you take out the value of outstanding checks? We have a client where doing this takes them below the CA small estate threshold.

If no one knows, any advice on where to find the information?

Thanks



Submitted by Alan Spross on Thu, 2011-06-30 00:00

I was not able to locate anything in the CA Probate Code to the contrary, but that code would be the final authority. If there is nothing that addresses this in the various abbreviated procedures, I think you could assume that the federal Reg posted below would prevail, and you could exclude those checks:

http://www.taxalmanac.org/index.php/Treasury_Regulations,_Subchapter_B,_…



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