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Upon the entry of an order for final distribution, the personal representative can distribute the remaining estate property to the beneficiaries. California Probate Code §11641. The personal representative is required to obtain receipts from the distributees of the property. California Probate Code § 11751.
There are limits on what an executor can and cannot do. If you've been named an executor, a couple basic rules of thumb are that you can't do anything that disregards the provisions in the will, and you can't act against the interests of any of the beneficiaries.
Though dividing funds equally is optimal, there are certain situations that may warrant leaving more to one of your heirs. Having frank discussions with your heirs about your gifting decisions can make things easier for them.
Generally, the small estate procedure in Indiana is as follows: Wait 45 days after the death of the decedent; Prepare a small estate affidavit; Notify every person who is entitled to receive part of the property to be distributed; Get the small estate affidavit notarized in front of a notary public; and.
Generally, beneficiaries have to wait a certain amount of time, say at least six months. That time is used to allow creditors to come forward and to pay them off with the estate assets. (In some cases, an executor may make partial distributions to the heirs after he or she estimates the debts.
This agreement like any other agreement can direct a different means of distributing the estate from what the Will specifies. It can even supersede the direct distribution of assets under the Last Will (or no Last Will), subject to some stipulations, and conditions to their recognition.
Section 29-1-7.5-4 - Closing estate; procedures; termination of appointment of personal representative (a) Unless prohibited by order of the court and except for estates being administered in supervised administration proceedings, a personal representative may close an estate by filing with the court no earlier than ...
PARTIAL DISTRIBUTION Definition & Legal Meaning a term used when a grant to legatees is made of a portion of an estate before the final settlement is made.