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  1. #1
    maddmorgan Guest

    Question

    I am the executor of a moderate estate in New York State. I also handled the decedents financial affairs for over eight years and know exactly what debts the estate will be liable for. Once those are paid, is there any legal requirement that would forbid me to remove assets from the estate's account and begin distribution? Thank you.
  2. #2
    I AM ALWAYS LIABLE is offline Senior Member
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    <BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by maddmorgan:
    I am the executor of a moderate estate in New York State. I also handled the decedents financial affairs for over eight years and know exactly what debts the estate will be liable for. Once those are paid, is there any legal requirement that would forbid me to remove assets from the estate's account and begin distribution? Thank you.<HR></BLOCKQUOTE>

    My response:

    Assuming an Estate has been filed with the court, and Letters have been issued to you as Executor, you must publish the Notice of Death and Creditor's Right of Claims for potential claims against the Estate. Check your actual statute about the amount of time publication must take. Once the time for Creditor's Claims has passed, and you have paid all final debts pursuant to the Will, or other testamentary instructions, you may then begin the process of dividing the residuals of the Estate to the heirs.

    IAAL



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