I have found unclaimed funds in the amount of $800.00 from my deceased mother's estate. The estate has been closed for 5 years. My sister and I were the executers. My mother had 3 other children from another marriage that contested her will. Does this $$$ need to go through probate (reopen estate?) and be distributed to everyone or just between myself and my sister? The estate was split at 95%/5%, with 5% going to the other 3 children. Thank you.
Elder Law Attorney
You need to reopen probate to distribute the funds. They are the property of your mother's estate and absent the consent of the court you have no authority to access them. If the funds are held by the state on "the big list," they won't even produce the check without a current fiduciary certificate.
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Real Estate Attorney
I willbe honest and state i do not the actual answer. I would suggest contacting the probate acourt where the estate was open and see if the staff had any ideas or shortcuts that might obviate reopening the estate. The original beneficiaries would be entitled to the funds pro rata I would think if you can recover them.
This information is provided for educational purposes and does not constitute legal advice, and no attorney-client relationship is formed. You should retain an attorney to receive legal advice on your particular situation.
Estate Planning Attorney
Yes-You would have to reopen the estate to distribute the funds as suggested.
The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.