Legal Question in Wills and Trusts in New York

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?

Asked on 5/15/07, 11:22 pm

1 Answer from Attorneys

Jonathan Chester Lindabury, McCormick, Estabrook & Cooper, P.C.
0 users found helpful
0 attorneys agreed

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.

Read more
5/16/07, 9:01 am

Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in New York

Looking for something else?

Get Free Legal Advice

88122 active attorneys ready to answer your legal questions today.

Probate, Trusts, Wills & Estates Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony RoachLaw Office of Anthony A. RoachChatsworth, CA
Terry A. NelsonNelson & LawlessRiverside, San Bernardino, CA
Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now