Strawb37
New Member
- Jurisdiction
- Alabama
In the Will it reads "I nominate and appoint ___________, executrix of this, my last will and testament, and declare that she shall not be required to give any bond for the performance of her duties arising hereunder, nor shall she be required to make any inventory of the property coming into her hands as such executrix, nor make any report to any court of her proceedings hereunder. I hereby specifically give to my executrix unlimited authority in administering my estate, viz, my executor shall sell, mortgage, pledge and in any other manner dispose of my real personal property in a like manner as could I were I alive and in being, any provision of the law of Alabama to the contrary notwithstanding."
I have read online that to formally close out the estate with probate, an inventory and accounting must be provided and approved before the funds can be released to the beneficiaries. It also relieves me of my duties as executor. However, given the above, it seems I do not have to do so. Basically, I am wanting to verify the Estate is formally closed having not provided this "final step" as I keep reading online. Any advice would be greatly appreciated.
It should be noted that all debts were paid, taxes filed, and the bank account balance has been the same value for years (way too long) at this point. I had left it open because according to my CPA, the IRS owed a Refund. A refund that never showed up nor was acknowledged by the IRS. I tried contacting the IRS, which was a joke. I have given up on that return money and just want to close the bank account and be done.
I have read online that to formally close out the estate with probate, an inventory and accounting must be provided and approved before the funds can be released to the beneficiaries. It also relieves me of my duties as executor. However, given the above, it seems I do not have to do so. Basically, I am wanting to verify the Estate is formally closed having not provided this "final step" as I keep reading online. Any advice would be greatly appreciated.
It should be noted that all debts were paid, taxes filed, and the bank account balance has been the same value for years (way too long) at this point. I had left it open because according to my CPA, the IRS owed a Refund. A refund that never showed up nor was acknowledged by the IRS. I tried contacting the IRS, which was a joke. I have given up on that return money and just want to close the bank account and be done.
