subject: Distribution of the Estate [print this page] Distribution of the Estate Distribution of the Estate
Distribution of the Estate
As a rule, no distribution should be made until there can be a determination of whether the estate is solvent. Any prema ture distribution by an executor may be charged to him, and if an executor or administrator distributes part of an estate and there should be insufficient money available to pay taxes or debts, the executor or administrator may be held liable personally. If you are an heir, you should not be impatient when the executor tells you that he cannot make distribution. It is rare that an estate can be wound up in less than fifteen months.
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If there is an emergency and your mother needs some money, you may obtain a release of funds for her. If she is not the sole beneficiary of the estate, however, you should obtain the consent of the other beneficiaries before taking the responsibility of releasing estate funds. In an uncomplicated estate, the steps follow in logical se quencethe probate of the WILL, the collection of assets and payment of debts, the payment of the taxes, the distribution of the estate, and the payment of executor's commissions and attorney's fees. There is nothing really mysterious about estate administra tion and your lawyer can answer your questions without dif ficulty. Be sure you ask those questions, because only by having a clear understanding and rapport will you succeed in having an efficient and satisfying administration. Perhaps you made you plans carefullyperhaps you made them haphazardlyor perhaps you didn't make them at all.
Whatever you did, it is now too late. The police emergency squad pried apart the remains of your automobile where a runaway truck had crushed it against a pole, and what was left of you was taken out. By that time, a doctor had arrived, and it took him only a short time to pronounce you dead. Or, maybe it didn't happen that quickly. Perhaps you were in and out of the hospital for several months before you entered the hospital for the last time and did not come home. Whatever was done was done. Whatever was undone could no longer be accomplished. The brief interval between your arrival on this earth and your departure was over, and you were on your way to your eternal reward. For you it was the end, but for those left behind it was the beginning of a trying period. As a rule, no distribution should be made until there can be a determination of whether the estate is solvent. Any prema ture distribution by an executor may be charged to him, and if an executor or administrator distributes part of an estate and there should be insufficient money available to pay taxes or debts, the executor or administrator may be held liable personally. If you are an heir, you should not be impatient when the executor tells you that he cannot make distribution. It is rare that an estate can be wound up in less than fifteen months. If there is an emergency and your mother needs some money, you may obtain a release of funds for her. If she is not the sole beneficiary of the estate, however, you should obtain the consent of the other beneficiaries before taking the responsibility of releasing estate funds.
In an uncomplicated estate, the steps follow in logical se quencethe probate of the WILL, the collection of assets and payment of debts, the payment of the taxes, the distribution of the estate, and the payment of executor's commissions and attorney's fees. There is nothing really mysterious about estate administra tion and your lawyer can answer your questions without dif ficulty. Be sure you ask those questions, because only by having a clear understanding and rapport will you succeed in having an efficient and satisfying administration. Perhaps you made you plans carefullyperhaps you made them haphazardlyor perhaps you didn't make them at all. Whatever you did, it is now too late. The police emergency squad pried apart the remains of your automobile where a runaway truck had crushed it against a pole, and what was left of you was taken out. By that time, a doctor had arrived, and it took him only a short time to pronounce you dead. Or, maybe it didn't happen that quickly. Perhaps you were in and out of the hospital for several months before you entered the hospital for the last time and did not come home. Whatever was done was done. Whatever was undone could no longer be accomplished. The brief interval between your arrival on this earth and your departure was over, and you were on your way to your eternal reward. For you it was the end, but for those left behind it was the beginning of a trying period.
