Tuesday, July 23, 2013

Finally Handing Out Money

Jack has sent out copies of his Final Accounting and Proposed Distribution to each interested party in the probate case regarding his mother’s estate.  No one objected, and the Judge reviewed the documents and approved them. 

So now Jack has an Order authorizing him to distribute as planned.  Jack cannot, however, just send out checks or sign over other property to the people his mother named in her Will and as approved by the probate court. 

He must obtain Receipts from the heirs first or at the same time he hands out the checks or signs over other property.  Usually, the heirs sign Receipts and return them to the attorney’s office. After that the checks or proper transfers are done. 

Jack must collect the Receipts, because the probate case cannot be closed and ended without filing them with the court and receiving another court order after they have been reviewed.

To plan your estate to help minimize or eliminate probate and its costs, call our office at (815) 436-1996 for an appointment to begin planning or to review your current plan to be sure it will accomplish your goals.  ©2013 Gruber Law Office, Ltd.

 


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