Petition for Final Distribution
A petition on final distribution is a legal document that authorizes the official Distribution of a deceased person's Assets to their Heirs or Beneficiaries.
It is issued by a Probate Court during one of the final steps of the Probate process, occurring after the deceased's Debt and taxes have been paid.
The document summarizes all the deceased's assets that have been gathered, expenses incurred, and income received by the deceased's Estate. It then specifies how assets will be distributed.
To receive the petition on final distribution, an Executor or Administrator petitions probate court and once approved, is allowed to distribute assets.
Requirements for obtaining an order on final distribution vary by state, and the process can be complex and time-consuming and a Probate Attorney or Estate Attorney is often hired to ensure that all steps are followed correctly and that the estate is Settled in accordance with state law.
Also known as an Order on Final Distribution.