Connecticut Sample Letter for Estate Administration
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How to fill out Sample Letter For Estate Administration?
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FAQ
The final accounting shows all activity that occurred in the estate, starting with the value of the inventory (the value of all solely-owned assets on the decedent's date of death), showing all bills and expenses that were paid, and listing a proposed distribution of the remaining assets in the probate estate.
An executor of a deceased person's estate typically has to show an accounting of the estate to the beneficiaries and heirs unless the beneficiaries and heirs waive their privilege. The accounting is a way to prove the executor settled the estate legally and as the deceased intended.
1) A petitioner filing a PC-212, Affidavit in Lieu of Probate of Will/Administration, may use this form to request an order of distribution if (a) assets exceed expenses and claims or (b) a person who paid expenses or claims waives reimbursement for payment of the expense or claim.
Full "probate" is ONLY required by law if the person who dies, with or without a will, (1) owned real estate (not just a life use) that does not pass by the deed to the "surviving" joint owner, OR (2) owned $40,000 or more of other assets that also don't pass by beneficiary or joint ownership to another person.
An executor must account to the residuary beneficiaries named in the Will (and sometimes to others) for all the assets of the estate, including all receipts and disbursements occurring over the course of administration.
Can your executor take money from the estate? The executor is not the owner of the estate, meaning they do not have rights to the assets within the estate. They are however permitted to be paid for their duties. This does not mean they are free to take whatever sum of money they wish from the estate account.
A Letter of Appointment of Executor helps prove you have been put in charge of someone's estate after they have passed away. As Executor, you've been given the duty to manage the estate and carry out the directions of the will; however, a court may require official documentation.
If you're wondering whether an executor can override a beneficiary, you're asking the wrong question. An executor can't override what's in a Will.
