Sec. 124.051. VALUATION OF PROPERTY DISTRIBUTED IN KIND IN SATISFACTION OF PECUNIARY GIFT. Unless the governing instrument provides otherwise, if a will or trust contains a pecuniary devise or transfer that may be satisfied by distributing assets in kind and the executor, administrator, or trustee determines to fund the devise or transfer by distributing assets in kind, the property shall be valued, for the purpose of funding the devise or transfer, at the value of the property on the date or dates of distribution.
Added by Acts 2009, 81st Leg., R.S., Ch. 680, Sec. 1, eff. January 1, 2014.
Structure Texas Statutes
Title 2 - Estates of Decedents; Durable Powers of Attorney
Subtitle C - Passage of Title and Distribution of Decedents' Property in General
Chapter 124 - Valuation and Taxation of Estate Property
Subchapter B. Satisfaction of Certain Pecuniary Gifts
Section 124.051. Valuation of Property Distributed in Kind in Satisfaction of Pecuniary Gift
Section 124.052. Satisfaction of Marital Deduction Pecuniary Gifts With Assets in Kind