The tenth mistake that Pennsylvannia Executors make is failing to conclude their Estate Administration. To conclude Estate Administation you either have to go through court and have them okay it or to create a faimly settlement agreement. Many executors simply hand the money out and walk away. Without closing the Estate Administration the executor is liable should anything happen in the future. Going to court is not necessary in most cases. A family settlement agreement is the best way to conclude an Estate Administration. The agreement lets everyone involved in the estate know all of the information from how much the attorney was paid, to the amount everyone was given, to the executors commision. To limit liabililty and properly conclude an Estate Administration have a family settlement agreement created.
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David M. Frees III Esq.
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