If, as executor for my aunt’s estate, it has recently come to my attention that she had an account with money in it but the estate has settled how should I proceed?
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If, as executor for my aunt’s estate, it has recently come to my attention that she had an account with money in it but the estate has settled how should I proceed?
She had an electric membership corporation account with $550 in it. The account is still active. My aunt died 7 years ago and the estate closed the following year. There were 15 heirs to the estate at the time. Based on the distribution terms of the Will each heir would have received $6.88 to $55 from this account. Some heirs are scattered about the U.S. and beyond and could prove difficult to track down.
Asked on June 20, 2014 under Estate Planning, Georgia
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
What would generally happen is that you would petition the court to reopen the estate. I understand that the amount is small when looked at the big picture and distribution but you may be stuck. Protecting your self as fiduciary is what is important. Good luck.
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