From our “Ask a Question” mailbag: Obtaining Release of Liability as Executor in Bucks County

Most Recently Updated July 10, 2018.

“I am the executor of my mother’s estate in Bucks 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?”

Obtaining Release of Liability as Executor in Bucks County

Obtaining Release of Liability as Executor in Bucks County

You are right to be concerned. Prior to making distributions from the estate, you should insist on getting a release of liability. This is typically done informally by using what is broadly referred to as a Family Settlement Agreement.

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 the distribution.

When an heir refuses to sign?

When an heir refuses to sign the Settlement Agreement, you are then forced to file a Formal Accounting. Yours would be filed with the Bucks County Orphans’ Court. These Formal Accountings must follow specific rules.

All the heirs are then given a date to file objections to your accounting. If none are filed, then your Accounting is approved and you are protected.

Further Estate Litigation Questions?

Obtaining Release of Liability as Executor in Bucks County 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: Obtaining Release of Liability as Executor in Bucks County

I hope that this article was helpful in explaining obtaining release of liability as Executor in Bucks County. 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.

Wills, Trusts, Probate, and Estate Litigation It’s All We Do!