My question involves estate proceedings in the state of: NY
intestate succession (in our case) states that if No Will, three siblings will inherit shared interest in property ( alive or deceased ) but inasmuch as property is not sold yet , is there a distribution value ...FMV at time death of inheritance ( 2011 - 396K ) that is considered, or is that value only for tax purposes OR is probate a formality to determine an equal distribution to the shared parties if a sale were made ( say in 2019 at $1.100,00 ) would that thus become 367K each ? THANKS
intestate succession (in our case) states that if No Will, three siblings will inherit shared interest in property ( alive or deceased ) but inasmuch as property is not sold yet , is there a distribution value ...FMV at time death of inheritance ( 2011 - 396K ) that is considered, or is that value only for tax purposes OR is probate a formality to determine an equal distribution to the shared parties if a sale were made ( say in 2019 at $1.100,00 ) would that thus become 367K each ? THANKS
Estate Assets and Debts: Court Distribution of Real Property After Probate Proceedings
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