Probate questions.

[bellyshaker]

My father's estate is in probate and is supposed to be "closed" at the end of January. He resided in Oregon. Once it is closed I assume we pay the creditors and whatever other debts he had along with the attorney. My brother is the executor and we don't know if we then split the money left over or if there is something else we would need to do. Does my brother just write us each a check and close the account and we are done with it?

 

[advisor10]

12-27-2001

The estate is "CLOSED" AFTER all debts and estate expenses and executor fees have been paid, and after the beneficiaries have received their checks.

As executor, he needs to be sure that funeral expenses, taxes and outstanding debts have been paid. Of course, he will have to submit an accounting to the court. If he has not already consulted a probate lawyer about his administration of the estate or any aspects of it, perhaps he should do so now, just to get advice on how to proceed and technically what to do, and to make sure that nothing has been mistakenly overlooked.