(Form DE-120, Judicial Council) must be sent to persons interested in the estate at least 15 days prior to the hearing. The status report is set for hearing in the same manner as any other probate petition. The status report must show the condition of the estate, the reasons why it cannot be closed and distributed (for example, if there is ongoing litigation, or an estate tax audit, or real property that must be sold to pay debts or cash gifts), and the estimated time needed to close the estate. If the estate cannot be closed within one year after issuance of Letters (or 18 months if the estate is required to file a federal estate tax return), the Personal Representative must file a verified report on the status of the estate. If the Personal Representative wants to receive compensation for his or her services, a petition for fees should also be included in the petition for final distribution.Ī final account does not have to be filed if all the persons entitled to distribution of the estate sign a written waiver of account or a written acknowledgment of receipt of their share of the estate. The Personal Representative must file a final account, report and petition for final distribution, have the petition set for hearing, give notice of the hearing to interested persons, and obtain a court order approving the final distribution. The Personal Representative is required to file a petition for final distribution or a verified report on the status of the estate within one year after Letters are issued (or 18 months if a federal estate tax return is required).
120 DEATH NOTE RULES HOW TO
How to be discharged from personal liabilityĪ final account and petition for distribution can be filed by the Personal Representative when there are sufficient funds available to pay all debts and taxes, the time for filing creditors' claims has expired, and the estate is in a condition to be closed.Common errors made in preparing the final account, report and petition for final distribution.How do I prepare the petition for final distribution?.
How are fees determined for the personal representative and attorney?.When can I close the estate and distribute the assets?.