The 6 Phases of Estate Administration- Phase Six: Estate Closure, Settlement and Final Distributions

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The 6 Phases of Estate Administration- Phase Six: Estate Closure, Settlement and Final Distributions

Phase Six: Estate Closure, Settlement and Final Distributions

Estate Closure, Settlement, & Final Distributions involves closing the estate, settling any disputes or claims, and making final distributions to the beneficiaries, which are all important steps in this final phase of the estate administration process. 

Phase Six also includes filing the final tax returns and obtaining a release from the executor's responsibilities from all beneficiaries. 

The Executor may also have to prepare and file a final judicial accounting of the estate with the court, and obtain court approval for the distribution of the assets. After the court approves the final accounting, the estate will be closed and the Executor can be released from his/her duties.

Read the Full Story

The 6 Phases of Estate Administration- Phase Six: Estate Closure, Settlement and Final Distributions

Read the Full Story
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The 6 Phases of Estate Administration- Phase Six: Estate Closure, Settlement and Final Distributions

Trustate Team
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Phase Six: Estate Closure, Settlement and Final Distributions

Estate Closure, Settlement, & Final Distributions involves closing the estate, settling any disputes or claims, and making final distributions to the beneficiaries, which are all important steps in this final phase of the estate administration process. 

Phase Six also includes filing the final tax returns and obtaining a release from the executor's responsibilities from all beneficiaries. 

The Executor may also have to prepare and file a final judicial accounting of the estate with the court, and obtain court approval for the distribution of the assets. After the court approves the final accounting, the estate will be closed and the Executor can be released from his/her duties.

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