Q: If asset value changes between DOD and date of distribution, does it affect what beneficiaries receive as a percentage?
A former spouse named several people as beneficiaries, to receive some percentage of the value of an investment account. The executor states that the amount to be received is the value on the date of death, but the account was not terminated. If the assets increased in net value, are the beneficiaries entitled to the increased value of, for example, 12.5%? The executor is using other funds, from an annuity, to make these cash distributions.
A: No doubt, your answer lies in the interpretation of the language used in making the special gift, but without seeing it, I would opine that the relevant date is date of distribution rather than date of death.
A:
I tend to agree with Mr. Berge. If the asset was $100,000 at DOD and was $110,000 at distribution, who gets the extra $10,000? The Executor? What does the transferring document say? You don't say if this is a trust or a will. I think you should consult with Mr. Berge.
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