tibbir
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Fri Aug-05-05 10:42 PM
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Can anyone tell me what Georgia law says about estate distributions? |
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Can an executor make partial distributions to 2 of the beneficiaries and hold back the distribution to the 3rd one until later (at the 3rd one's request)?
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madrchsod
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Fri Aug-05-05 10:52 PM
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Edited on Fri Aug-05-05 10:55 PM by madrchsod
my sister was our mothers executor..she did the same thing about what you are posting. make sure all the estate bills are paid and there are no outstanding claims.we are in illinois and that was legal. can`t post link from google so use this georgia law on executor - Google Search
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tibbir
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Fri Aug-05-05 10:58 PM
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2. Let me get some clarification - |
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You're saying that the executor can make a partial distribution to 2 beneficiaries and hold back the amount to be distributed to the 3rd beneficiary (the 3rd beneficiary would get his payment at a later date)?
I just want to be sure I've got this straight.
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Geoff R. Casavant
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Fri Aug-05-05 11:15 PM
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And I see no problem with the plan. I would suggest you (a) get the 3 beneficiaries to sign off an acknowledgment of this before doing so, (b) don't make the interim distributions too large, and (c) put the third beneficiary's distribution in a separate account so he gets the sole benefit of the interest earned.
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Thu May 02nd 2024, 11:52 PM
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