[WSBAPT] gift of stock include dividends accrued but not paid?

[Douglas Bratt]

I agree with Jayne.  I would think that bequest was for “all incidents of ownership,” the rights to which go to the nephews, as of the date of death of the Decedent, such that a dividend check issued on or after the death of the Decedent would go to the nephews.

If the dividend check was dated a day before the death of the Decedent, I think the dividend amounts would then belong to the other beneficiary, even if the check was not received until after the death of the Decedent.

Regards,

Doug Bratt


Douglas J. Bratt
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From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Jayne Gilbert
Sent: Wednesday, March 15, 2017 4:06 PM
To: WSBA Probate & Trust Listserv
Subject: Re: [WSBAPT] gift of stock include dividends accrued but not paid?

I would think that the bequest vested at death, so any post death dividends would go to the Beneficiary

On Wed, Mar 15, 2017 at 3:37 PM, Josh Grant <jgrant at accima.com<mailto:jgrant at accima.com>> wrote:
Hi Again.

I am helping a PR with a probate of a will which states in part:  “I give and bequeath all stock investments which I own at my death... to nephews”...  All Rest and Residue to a different beneficiary.  About $4000 in dividends received after date of death.

  Do we assume that only the principle stock was “owned” by decedent and not send any of the dividends to the nephews, i.e. dividend isn’t “owned” until received,  OR, do we calculate and pro-rate the dividends for the period before and after the DOD and give the specific legatee (I don’t think there is such a word as a  bequeathee  even though there is such a thing as a devisee??) the prorated amount accrued up to the DOD?  And of course it is possible the market went up or down at different rates during the last quarter, but I hope we don’t have to track that to the DOD?

Other ideas.

Josh

Joshua F. Grant, PS
Attorney at Law
P. O. Box 619
Wilbur, WA 99185
tel 509 647 5578
fax 509 647 2734<tel:(509)%20647-2734>

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Jayne Marsh Gilbert
Gilbert and Gilbert Lawyers, PS
(360) 336-9515
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