Funds received after close of probate

[willowglen]

What is the name of your state? What is the name of your state? California

I am executor to my father's estate. Probate & disbursement of probated assets will be done by Jan 1st.
My father received periodic restitution checks from the state and will continue to receive them in future
years. I opened a bank account to handle deposits. How do I handle these?

 

[LdiJ]

What is the name of your state? What is the name of your state? California

I am executor to my father's estate. Probate & disbursement of probated assets will be done by Jan 1st.
My father received periodic restitution checks from the state and will continue to receive them in future
years. I opened a bank account to handle deposits. How do I handle these?

How long will this go on, and who are the checks made out to?

 

[willowglen]

Could go on as long as the debtor (who was in jail) is alive. I will be getting the checks made out to the Estate of ...
A larger check which hopefully will come is a garnishment from a bank from a judgment. This was owed before he died,
so I think it should be part of probate. If I find more things to attach on behalf of the judgment, they will become
part of his estate (after probate). It's the small restitution checks & any monies not part of probate that I am
asking about------how do I handle these legally/

 

[Zigner]

... any monies not part of probate ...

Those monies ARE part of probate. You may wish to consult with a local attorney for the specifics of how to handle this matter.

 

[LdiJ]

Those monies ARE part of probate. You may wish to consult with a local attorney for the specifics of how to handle this matter.

I agree, which is why I asked the questions I asked. When you consult with a local attorney you might also inquire if its possible to have the payments transferred to the name of someone or something other than his estate via the probate process. If possible, you want to avoid the estate having to be held open forever. At some point, it won't be cost effective.

 

[Dandy Don]

Ask the state if they will please make future checks payable to the heirs of the estate by putting each beneficiary's name in the payee section, so that when you cash it, all beneficiaries will have to sign the check. Provide the state with a copy of the will and the page that shows names and addresses of each beneficiary. Ask the state if you need to fill out any type of special form or paperwork from them in order to accomplish this.

 

[LdiJ]

Ask the state if they will please make future checks payable to the heirs of the estate by putting each beneficiary's name in the payee section, so that when you cash it, all beneficiaries will have to sign the check. Provide the state with a copy of the will and the page that shows names and addresses of each beneficiary. Ask the state if you need to fill out any type of special form or paperwork from them in order to accomplish this.

It appears that the restitution checks are fairly small. That is lot of effort for what could be a small amount of money. Again, speak to an attorney about the best way to handle it.

 

[Taxing Matters]

What is the name of your state? What is the name of your state? California

I am executor to my father's estate. Probate & disbursement of probated assets will be done by Jan 1st.
My father received periodic restitution checks from the state and will continue to receive them in future
years. I opened a bank account to handle deposits. How do I handle these?

The money belongs to the estate. It should not be a big deal to keep the estate open for purpose of getting the checks and disbursing them to beneficiaries. Consult a probate attorney for suggestions; there might be another way to easily handle it depending on the circumstances of the estate.