Connecticut: Probate question regarding proposed distributions
I finally got a notice from the probate court and under form PC-246 (Proposed Distributions) it has the house + lot and car listed along with the subtotals. BUT all their proposed distributions are listed as SHARE house/lot plus SHARE crappy car for my three Uncles (share is underlined) Mine however says VALUE house/lot plus VALUE crappy car. All sub totals are the same give or take a penny (I'm getting an extra penny along with the fiduciary)
Is anything funny here or are they just basically buying me out and taking a share in the house instead of actual funds?
1 attorney answer
In my time representing fiduciaries for decedent's estates, I've never used nor seen the SHARE/VALUE designations like you're describing. That said, without the benefit of further clarification, it seems as though the estate is proposing to provide you proportionate monetary value for those assets as opposed to an ownership share in them.
What's strange is I can't imagine the other 3 heirs actually want to co-own a "crappy" car. Normally it would be sold and the proceeds split equally, or sometimes a single heir would take it and the value credited against his/her share of other assets.
I understand it's "easier said than done" when dealing with family, especially when dynamics are already strained, but your uncle owes you an explanation if you ask for one. Transparency is a part of his fiduciary duties to you as an estate heir. Best of luck, and fingers crossed things go smoothly from here on out.