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    Probatehelp's Avatar
    Probatehelp Posts: 1, Reputation: 1
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    #1

    Apr 8, 2006, 02:57 PM
    Partial Inheritance
    I am the personal rep for my fathers estate. I heard that I can make an early partial distribution of inheritance as long as I have it documented and obtain reciepts from the beneficiaries. It would amount to half of the estimated estate value. The balance would come with the sale of the house whenever that happens. Is this legal?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Apr 8, 2006, 07:05 PM
    Each state in the United States has different probate laws, First are you the administer of the estate and are you apointed by the will, or by the probate court.

    Also what is the size of the estate, if over certain amounts, it will have to go thoiugh probate court to have things distributed.
    fredg's Avatar
    fredg Posts: 4,926, Reputation: 674
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    #3

    Apr 9, 2006, 05:47 AM
    Hi,
    I highly suggest getting a Lawyer, one with some experience with Estates, and Executors of Estates, and find out what to do from a Professional.
    I am not a lawyer, nor a Professional in Estates.
    You may have to file for a Federal Tax ID before doing anything. You also might want to consider seeing a CPA for more information on how to proceed.
    I do wish you the best, and hope there is a Last Will and Testament, to guide you with dispersements, which a Lawyer can explain.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Apr 9, 2006, 05:57 AM
    The only reason you MIGHT have to get a Tax ID is if you have to setup bank accounts to handle disbursements. The probate court judge will make that determination. A CPA might help with the tax consequences of the disbursements.

    Not all wills have to be probated, and, if half the estate is represented by a home sale, the size of the estate may not be that large.

    But, your best bet is to consult an Estate Attorney in your area. If the will was submitted for probate, you probably have one. At the very least the probate court may have an info line or pamphlets that will help you deal with your local statutes.
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