Estates and Assets

There are several aspects of the distribution of an Estate to consider where distributions need to be made to beneficiaries by the Personal Representative. 

If an estate receives payment for personal property, whether from the public or any beneficiary, that payment generally becomes an asset of the estate. This could happen if the estate sells personal property or if the estate is compensated for the loss or damage of personal property (e.g., through insurance or legal claims).

Once the payment is received, it becomes part of the estate's assets and is subject to distribution according to the terms of the will or, if there is no will, according to the laws of intestacy in the jurisdiction. After all debts, taxes, and expenses of the estate are paid, the remaining assets, including the payment for the personal property, would be distributed to the beneficiaries.

 If the personal representative withholds amounts from the distribution to beneficiaries, several scenarios could apply.  Regardless, if amounts are withheld, beneficiaries are generally entitled to an explanation from the personal representative. The personal representative has a fiduciary duty to act in the best interest of the estate and its beneficiaries, so any withholding must be justifiable and in accordance with probate laws. If beneficiaries believe that withholding is improper, they can seek clarification from the personal representative or take the matter to probate court for resolution.