How can an executor figure out how to split some bonds between himself, my wife and their sister-in-law that were left just to him?

UPDATED: Oct 1, 2022

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How can an executor figure out how to split some bonds between himself, my wife and their sister-in-law that were left just to him?

My father-in-law passed away and left several financial assets to my wife,

sister-in-law and brother-in-law. Most of the assets were identified as

POD/TOD equally to all three except for a handful of bonds that were listed just for my brother-in-law. He is the executor for his father’s estate and wishes to split these bonds evenly between himself and his 2 sisters. How does he do this? The total of the assets are not close to worry about inheritance tax issues.

Asked on October 24, 2018 under Estate Planning, Missouri


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

Assuming they can be sold or traded, the easiest way to do this is to just liquidate the bonds, then divide the money. Cash can be easily divided up. The amounts paid to your wife and sister-in-law will be gifts from him, so he'll have to deal with any gift tax issues: if more than his annual gift tax exclusion, he should spread the payments out over however many years are needed to avoid paying gift tax.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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