Petition for Distribution of Assets

A Petition for Distribution of Assets is a legal document filed with the probate court to request the distribution of a deceased person’s estate. Key aspects include:

1. Filed by the executor or administrator of the estate

2. Typically submitted after all debts, taxes, and expenses are paid

3. Outlines how remaining assets should be distributed to beneficiaries

4. Includes a detailed accounting of the estate’s assets and liabilities

5. May request executor fees and closing of the estate

This petition is a crucial step in finalizing the probate process. It ensures that assets are distributed according to the will or state law if there’s no will. The court reviews the petition and, if approved, issues an order for distribution. This protects the executor from future claims and provides a clear record of asset distribution. Beneficiaries have the right to object to the proposed distribution before the court’s approval. Proper preparation of this document is essential for a smooth and timely conclusion of the probate process.