This form is a Petition to Close Estate and Discharge Executor filed with the Probate Court by the Executor of an estate requesting that the court close the estate and discharge the executor.
Mississippi Petition to Close Estate and Discharge Executor
Category:
State:
Mississippi
Control #:
MS-0664-WG
Format:
Word;
Rich Text
Instant download
Description Mississippi Estate
Free preview Executor Download
How to fill out Petition Close Estate Mississippi?
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Mississippi Estate Executor Form popularity
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Petition Executor Document FAQ
The length of time an executor has to distribute assets from a will varies by state, but generally falls between one and three years.
Generally, an executor has 12 months from the date of death to distribute the estate. This is known as 'the executor's year'. However, for various reasons the executor may have been delayed and has not distributed the estate within this time frame.
The Executor's Final Act, Closing an Estate The personal representative, now without any estate funds to pay his lawyer, must respond. Even if the charges are baseless, the executor is stuck paying the legal bill. Instead, before making any distribution, the administrator should insist on receiving a release.
By Stephanie Kurose, J.D. Closing a person's estate after they die can often be a long, detailed process. This includes paying off debts, filing final tax returns, and, finally, distributing the estate's assets according to the wishes of the deceased.
Under the Administration and Probate Act there is a period of 6 months once Probate (or Letters of Administration, if there was no Will) is granted in which claims can be made on an Estate.
1) Petition the court to be the estate representative. 2) Notify heirs and creditors. 3) Change legal ownership of assets. 4) Pay Funeral Expenses, Taxes, Debts and Transfer assets to heirs.
A simple estate with just a few, easy-to-find assets may be all wrapped up in six to eight months. A more complicated affair may take three years or more to fully settle.
In the best of circumstances, the Mississippi probate process usually takes 4 to 6 months. This would only be possible if the estate was fairly simple, all interested parties are agreeable, and documents are signed and returned to the probate attorney in a timely manner.