Round Rock, TX asked in Probate for California

Q: Asset document for closing Petition

My Probate lawyer asked me to provide most recent statement from Vanguard to show the probate court what is the net worth of my father's Vanguard Estate Account. Asset appraisal has been done by the Referee. 2. I would like to know if California Probate law requires the administrator to provide such statement to show the current value of investment assets (mutual funds, stocks). Asset appraisal was done used asset value based on my father's date of death. 2. Should I provide the full statements (including every single mutual fund account's balance) or just the summary page which shows the total balance? 3. Who will have access to my probate case documents after the case is closed? Paralegal told me it takes significant knowledge and amount of work in order to access specific probate case. 4. Will IRS request California Probate court to report Estate asset value for future tax collecting purpose? Please give me some feedback. Your input is greatly appreciated!

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1 Lawyer Answer
James Edward Berge
James Edward Berge
  • Estate Planning Lawyer
  • San Jose, CA
  • Licensed in California

A: Yes, as the administrator for a decedent's estate, you are required by law and local court procedure to give the court full copies of all current bank statements for the decedent's estate in support of your statutory accounting and your petition for final distribution. If you want to protect your privacy, you can do so under a confidential cover sheet so they never become public information. This information is not shared with the IRS or any other government agency.

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