Probate Court: Signing a Release in the State of CT
Brookfield, CT |
At the end of Probate court-when the FInal Acct has been finalized and other accounts distributed, is it a CT law that a Release be signed by all parties? If so, is the Release just for the Probate Final Accounting or for survivorship as well?
No. There is no law that requires any release, nor would it be logical or helpful to ask for a release regarding a matter that has been judicially settled. As for survivorship, who would the survivor release?
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Beneficiaries and interested parties are never under any obligation to sign a release, and for purposes of closing the estate it is relevant to the court. A release has nothing to do with the probate court, it's just a way to immunize the fiduciary from the liability of a successor estate or successor in interest. A similar document, called a waiver, can be signed by all parties to streamline the approval of the probate court, but strictly speaking this is unrelated to a release, even though in some cases, particularly trust terminations, it is common to execute both.
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