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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.
Just because you are nominated as executor of a Will does not mean that you must serve. You can renounce your rights as executor and decline to act by simply signing and having notarized a Renunciation of Nominated Executor form and filing it with the Surrogate's Court in the county in which your aunt resided.
Notify all creditors. File tax returns and pay final taxes. File the final accounting with the probate court. Distribute remaining assets to beneficiaries. File a closing statement with the court.
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.
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.
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.
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.