My question involves estate proceedings in the state of: Pennsylvania, Philadelphia County. My Father, died on November 30 1981. There was one asset missed on the accounting of assets. My 4 sibilings and I have never been able to inquire about this asset (a stock), because we are not named on the account. Statements have been sent to my monther for years, but she and my father were divorced so she had no legal claim to the money and could not even call to get the address changed. The executors of my father's will were his two brothers. One now deceased and one who is 85 years old and lives some distance away (New York). Due to my parents' divorce in 1976, the families are strained, though the younger cousins get along and socialize from time to time. (It is a very large family). In order to settle this matter, I have been advised two different thigns: A financial planner who has been in touch with Oppenheimer where the account is sitting says that if we provide:
1 My father's Death Cert (certified original, which I have),
2 Letters testamentary or Small Estate Affidavit (which I do not have and would not expect my Uncles to still have and I do not know how to get),
3 W-9 either for the estate or for each of the siblings (Sibilings can provide; I doubt I can get this from the estate), and
4 Transfer of Ownership form - one foreach of the siblings - this form was provided by my financial planner
that, Oppenheimer can close and distribute the proceeds (less than $10,000), I believe. I wonder how the estate taxes would be paid? Would they be paid at today's rates or at 1981/82 rates?
On the other hand, a lawyer from another blog where I posted this issue said that there is no way around it, the estate must be reopened. He advised contacting the law firm that handled the estate back in 1981-82, etc.
I'm happy to take all the steps necessary but don't want to waste time taking the wrong course of action.
Thanks for any and all replies. This blog has helped me in the past.
1 My father's Death Cert (certified original, which I have),
2 Letters testamentary or Small Estate Affidavit (which I do not have and would not expect my Uncles to still have and I do not know how to get),
3 W-9 either for the estate or for each of the siblings (Sibilings can provide; I doubt I can get this from the estate), and
4 Transfer of Ownership form - one foreach of the siblings - this form was provided by my financial planner
that, Oppenheimer can close and distribute the proceeds (less than $10,000), I believe. I wonder how the estate taxes would be paid? Would they be paid at today's rates or at 1981/82 rates?
On the other hand, a lawyer from another blog where I posted this issue said that there is no way around it, the estate must be reopened. He advised contacting the law firm that handled the estate back in 1981-82, etc.
I'm happy to take all the steps necessary but don't want to waste time taking the wrong course of action.
Thanks for any and all replies. This blog has helped me in the past.
Opening an Estate: Asset Missed from Father's Will Probated in ~1982
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