Estate First and Final Accounting

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Latest post 04-15-2006 10:54 AM by Virtuo. 2 replies.
  • 04-08-2006 12:25 PM

    • Virtuo
      Consumer
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    • Joined on 07-31-2004
    • MA
    • Posts 44

    Question [=?] Estate First and Final Accounting

    I am the Administrator of a small Estate in MA and finished filing the First and Final Accounting back in January. My sister is a Beneficiary and resides in FL and signed off on approval of me being Administrator prior to the Estate.

    The Estate was to be originally awarded $41,000 from the VA and my father had no other source of income, as this was to be Disability Compensation. He was approved for this money prior to his death and the check had to be returned and reasigned to the Esate, which took some time. By the time the monies were released, it was appx. $36,921. The money was deposited into an Esate bank account near myself, debts paid that were mandated and the First and Final Account filed.

    The attorney for the Estate mentioned that all that had to be filed now was a Citation for Interested Parties and she explained it as a publication into a local newspaper to make everyone aware of the money awarded.

    Does my sister have to sign off on this money being received? She signed on the approval of my Administratorship and the knowledge of the original amount of money. I beleive I read something that if she signed on the initial approval, she doesn't have to sign on the approval of the First and Final Accounting (distribution).

    Any help would be great.
  • 04-10-2006 1:21 PM In reply to

    • Drew
      Consumer
    • Top 10 Contributor
    • Joined on 03-30-2000
    • PA
    • Posts 49,103

    re: Estate First and Final Accounting

    I presume that counsel knows the required steps under MA law--that's why you retained her?

    Ask her.

    I'm not sure why there is publication towards the end of the process, normally there is a requirement of notice near the front of the process for creditors--but I assume your counsel is correct as to MA requirements.

    The requirement to get an approval fromthe heirs varies by state but there is frequently a sign off process or acknowledgement or notice process --so that a hier could raise questions via court of they felt there were errors. So if counsel says Sis needs to sign off as to end game--then its likley a must do.

    Aside, why did the amount of the award go down over time--why not interest until paid out?



  • 04-15-2006 10:54 AM In reply to

    • Virtuo
      Consumer
    • Not Ranked
    • Joined on 07-31-2004
    • MA
    • Posts 44

    Feedback [*=*] re: Estate First and Final Accounting

    Apparently, my father was awarded for more than the Estate was given. His benefits were re-rated, after his death by the VA and I am unsure as to why they went down; that question goes unanswered when I brought it towards the VA as well.
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