My mother is due to receive a check for the settlement of an estate. This attorney who was the executor and handling the estate took four years to track down the beneficiaries (actually one of the beneficiaries did it for him). He recently sent out the Refunding Bond and Release form which we have returned to his office certified mail. When I questioned how long it would take to receive the check, the attorney stated that he needed all the refunding bond documents from all beneficiaries returned before releasing the check. Can you tell me if that statement is accurate? He already stated the amount she would be receiving so I'm a little confused why he needs to wait for everyone else's forms. Thanks for any info you can give me.
If there are a lot of beneficiaries, I always wait until I get all of the release and refunding bonds back before I distribute. If one person disagrees, it could throw the whole estate off, and require a lot of expenses that would reduce the overall distribution to everyone else. It is much better to wait, and be sure that everyone will sign and is not going to challenge the distribution, than to make a distribution and then have to ask to have it returned.
Consumers can use this platform to pose legal questions to real lawyers and receive free insights.
Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.