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Executor Completion

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R

rt

Guest
Will Recoded over two years ago.

Family Settlement Completed.

Estate Account Closed, all taxes paid,
all funds distributed.

What is the final step in Pennsylvania for
executors to relinquish their role officially?

Thanks!!!
 


W

Whaleman72

Guest
Before releasing monies to the beneficiaries an executor should obtain a release which will, among other things, release the executor from any liability or lawsuit from that beneficiary. In NY it is called a Release, Receipt and Refunding agreement.
Release liability.
Receipt for monies received by beneficiary.
Refunding meaning that beneficiary agrees to refund the money or a portion thereof if the estate ever owes any more money (for a lawsuit, bill or estate tax liability, etc.)
 

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