I recently received a request from an attorney to furnish my social security number
In order for them to disburse my portion of the estate. This involves a single uncle who died in 1976 in Mass. I reside in Maine. The will designated items to each of 8 siblings inc my
Father with the rest of the estate being divided into 8 equal shares. The executor for this
Uncle(his younger brother died in 1986) My father died in 1979. In the late 1980's an
Attorney was appointed executor however it appears that he hasn't settled the estate.
I would succeed to my father's interest. I have two questions. Can I take any action against this attorney for sitting on this for years and secondly if stock is involved would I have to
Pay on gains ?

Thanks,

Rich

Don't know about taking action against the attorney. As for taxes due on the stock, you owe nothing until you sell the stock. When you do sell, your tax basis is the market value of the stock on the date your uncle died - typically one uses the average of the high and low of the stock on the date of death. The executor should be able to tell what the basis is.

Just curious - have you asked the attorney why it's taken so long settle? Could it be that your uncle's will specified that a trust be set up to hold assets for any beneficiaries under a certain age, and that's why the attorney waited until now?

ebaines,


Thanks for your response. I obtained a copy of the will and absent specific items
the balance is to be divided in 8 equal shares, so there are no stipulations to that
effect. I requested an inventory and accounting but haven't heard as yet. There is
only one survivor, an aunt that resides about 600 miles away. The aunt was the executor
for her two maiden sisters who passed away a couple of years ago. She apparently
discovered that this estate and the estate of another brother had not been settled.
and brought it to the attention of her lawyer esentially asking her lawyer to monitor
the "cleaning up of the estates" I received a note from her attorney as well. When I
called he stated that Attorney X was appointed executor about 20-25 years and
he "dropped the ball" He also said the ss# was needed to comply with the IRS.
While it likely is not a lot of money, the process smells and it does not appear that
I have much recourse .

Thanks,

Rich

Rich:

I suggest you post this on the LAW Forum.

In my opinion, you DO have a malpractice claim against the lawyer, but you will have to show that you actually suffered damages.