What happens if assets are received after debts have been satisfied and the estate has been closed?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
What happens if assets are received after debts have been satisfied and the estate has been closed?
A rebate from my mother’s nursing home has just been received, 5 months after her death. Her bills have been paid and the estate was closed with no assets.
Asked on August 7, 2012 under Estate Planning, Virginia
Answers:
Mark Westerfield / The Westerfield Law Firm
Answered 11 years ago | Contributor
What should happen is that the estate would be re-opened and then the funds distributed and then the estate closed again. Assuming that the refund from the nursing home is not a significant amount of money, I would call the local probate clerk and ask about other options. If there are only a few beneficiaries, you mary be able to have the beneficiaries sign a form waiving any rights to the funds and then distribute the money without reopening the estate and having another accounting.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.