Assets Uncovered After the Estate has Closed
Sometimes, estate or trust administration appears to be all wrapped up, and the estate is officially closed or the trust is terminated. Then weeks, months, or years afterward, other assets are discovered. Now what? Generally speaking, guidelines to distributing assets discovered after an estate has been closed encompass the following: When someone dies intestate (without a will), state law determines the rightful heirs of the estate’s property. Newly discovered assets will be distributed by the same formula. If the decedent...Read More