From our “Ask a Question” Mailbag: Acquiring Release of Liability as Executor in Pennsylvania
Most Recently Updated July 10, 2018.
“I am the executor of my mother’s estate in Chester County, Pennsylvania. I have sold the real estate, liquidated all the assets and am ready to distribute, but my sister will not give me a release of liability. What can I do?”
Acquiring Release of Liability as Executor in Pennsylvania
You are right to be concerned. Prior to making distributions from the estate, you should insist on getting a release of liability.
Settlement Agreements & Formal Accountings
Typically the probate attorney assembles a Settlement Agreement and attaches to the agreement a complete Accounting of your actions plus a Schedule of Distribution where you inform the heirs of how you plan to distribute the estate assets. After all the heirs agree and sign the Settlement Agreement, you can safely make distribution.
When an heir refuses to sign the Settlement Agreement, you are then forced to file a Formal Accounting. Yours would be filed with the Chester County Orphans’ Court. These Formal Accountings must follow specific rules. A date to file objections to your accounting is then provided to the heirs.
If an heir objects to your accounting there is a hearing where the judge hears all sides and makes a ruling. You are then released from future liability. Then, you can finally make distributions.
Further Estate Litigation Questions?
Acquiring Release of Liability as Executor in Pennsylvania is only one of many Estate Litigation issues our firm addresses. Consequently, if you want to learn more, please read my more detailed article, Trust and Estate Litigation All You Need to Know.
In Conclusion: Acquiring Release of Liability as Executor in Pennsylvania
I hope that this article was helpful in explaining acquiring release of liability as Executor in Pennsylvania. Further, I included links to even more detailed information on my website. Therefore, please contact me and let me know how I did. Certainly, your comments and questions are welcome!
Let our Litigation Lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced Litigation Attorneys. By all means, our lawyers are ready to answer your questions. In fact, feel free to contact our office for a free consultation. Ultimately our goal is to put our 25 years of estate litigation experience to work for you.
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