Partial Distribution of Estate
I am the executor of an estate and the deceased had assets (non property) in the US (New York) and Ireland. All of the US debts have been satisfied and I can make a distribution of the US assets.
1) Should I make a partial distribution of the US assets only?
2) Should I get a receipt and release from the beneficiaries of the estate for the partial distribution?
3) If I should get a release for the partial distribution, is there a standard form I can use to have the beneficiaries execute?
1 Answer from Attorneys
Re: Partial Distribution of Estate
Have all taxes been paid (U.S. and Irish)? Have closing letters been recieved from the taxing agencies? If not, I would be careful about making large distributions.
Yes, there are forms, but you may want something more substantial to protect you as executor (e.g. an approval of accounting, reciept, release and indemnification agreement).
This does not sound like a typical estate. I suggest you have an estate attorney help you.