From our “Ask a Question” Mailbag: Effect of Signing an Executor Release in Montgomery County

Most Recently Updated July 19, 2018.

“The lawyer serving as the executor for my mom’s Montgomery County estate has sent me documents called an Informal Account and a Receipt, Release, Refunding and Indemnification Agreement. If I sign this, do I waive my rights to ask any questions?”

Effect of Signing an Executor Release in Montgomery County

As a beneficiary of your mom’s estate, you have the legal right to have a Probate Attorney ask the executor to file an accounting with the Montgomery County Orphans’ Court. But, the cost of compiling the accounting will be paid out of estate funds. Which will reduce the pool available for distribution to the estate’s beneficiaries. Typically, when there are no disputes, the executor will instead assemble an Informal Accounting of the estate’s assets and expenses. This Informal Accounting is then submitted to the beneficiaries for review.

No Objections to the Accounting?

If there are no objections, the beneficiaries sign the Receipt and Refunding Agreement that accompanies the Informal Accounting. By doing so, the beneficiaries agree that they don’t want a Formal Accounting and waive all objections to the executor’s actions. So, if you are satisfied with the Informal Accounting you can sign the Agreement, but if you still have questions, you should not sign.

If you have questions, it would be a good idea to retain an experienced Montgomery County Probate Attorney to walk you through and explain to you the accounting. You should never sign anything that you do not fully understand.

More Probate Questions?

The executor release is only part of the overall probate process. By all means, if you wish to learn more, please read my more detailed article, The Probate Process All You Need to Know.

In Conclusion: Effect of Signing an Executor Release in Montgomery County

I hope that this article was helpful in explaining the executor release. 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 Probate Lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced Probate 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 make the process as painless as possible!

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

Tags: Montgomery County, Pennsylvania, Probate, Probate Attorney, Probate Lawyer