[WSBAPT] Inventory and Appraisement Question

[Kerry Richards]

Dear List Mates:
In a probate I am handling, I am wondering what value to place on a now resolved wrongful death action. The wrongful death matter was never filed, but the surviving spouse, with the work of a most excellent personal injury lawyer, resolved this action in settlement. It resolved for limits on the insurance. We are about to prepare our Inventory and Appraisement and I am wondering what part of this settlement should go into the Inventory. I will use hypothetical numbers and percentages in my question to you all.
The case resolved for X, let us say, $100,000. The economic portion of loss to the community represents about 80% of that loss, (and was justified through the work of an economist hired by the PI lawyer to make his case with the insurance carriers.) and the remaining 20% is made up of pain and suffering of the decedent. In actuality, the pain and suffering exceeded the total resolution, but given the limits of coverage and the limits of assets with the responsible party, the matter was compromised and resolved. Since this is really a claim of the surviving spouse, is any of this claim part of the inventory? Is only a portion and if so, what is the proportion to include? Your responses are much appreciated.
Yours truly,

Kerry A. Richards, Attorney
[cid:image001.png at 01D31B65.31A26710]
The Law Offices of Michael W. Bugni & Associates, PLLC
11300 Roosevelt Way NE, Suite 300, Seattle, WA 98125
EMAIL: krichards at lawgate.net
TEL: 206-365-5500
WEB: www.lawgate.net<http://www.lawgate.net/>



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