Probate Glossary
Distribution
The transfer of estate property to heirs or beneficiaries.
Definition
A distribution is the transfer of estate money or property to beneficiaries or heirs after required estate administration steps, debts, expenses, and approvals are handled.
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Frequently Asked Questions
When can beneficiaries receive distributions?
Beneficiaries typically receive distributions after estate assets are identified, valid debts and expenses are handled, required notices or court steps are completed, and the Personal Representative is ready to distribute safely.
What is a final accounting?
A final accounting summarizes what came into the estate, what went out, what debts or expenses were paid, what distributions were made, and what remains before the estate is closed.
Do creditors get paid before beneficiaries?
In many probate estates, valid debts, expenses, taxes, and creditor claims must be handled before beneficiaries receive final distributions. Exact payment priority depends on state law and the type of claim.
What happens after probate is opened?
After probate is opened, the Personal Representative may need to notify interested parties, gather assets, create an inventory, handle creditors, track accounting, file required reports, and eventually distribute remaining assets.
How do you close a probate estate?
Closing a probate estate usually involves completing administration, paying valid debts, preparing accounting, making distributions, filing required documents, and obtaining any necessary court approval or discharge.