Take These Steps If You Find Estate Assets After Probate Has Closed

Sometimes, even when you think a probate administration is closed, there is still work to be done. This is because some assets may not be discovered until after probate has closed. Perhaps you were not aware of the asset, or perhaps it was an amount of money owed to the decedent that was not paid back until several years later. Regardless of the reason, the person in charge of administering the estate must handle the newly discovered asset properly.

What to Do When You Find New Assets After Probate has Closed

As the executor or personal representative of the estate, your first step should be to contact an experienced attorney. Look for a lawyer who focuses his or her practice in this specific area of the law. An attorney with experience will know how best to proceed. You should also obtain a copy of the probate file from the appropriate court. For example, if the decedent passed away in San Diego, the probate was likely administered in the Superior Court of San Diego and the file can be obtained from that court. Your attorney will review the file and verify that the estate was in fact closed. Then, they are able to advise what to do after probate has closed. He or she will also determine whether the executor was discharged of the duties of administering the estate.

Once you have sought the guidance of an attorney, your next step is to contact the bank.

Consider taking the following actions:

  1. Verify whether or not the estate’s bank account is still open, or whether it has been closed.
  2. Attempt to deposit the check into the estate’s bank account if it is open.
  3. Speak with a representative of the bank to determine whether the account can be reopened without first obtaining an order from the court, if it is closed.

Say the bank will not allow you to deposit the check. You may need to seek assistance from the court. If the probate administration is already complete, there may be additional hurdles to address. In many cases, however, the final order for distribution of the estate contains a provision that states that any later-found assets are to be distributed without requiring a further order from the court.

When it comes to an estate administration, questions arise more often than not. We are here to provide answers! Contact us today for more information—fill out our quick contact form and schedule a free consultation.

Related Links:

Types of Inventories for an Estate

Knowing When to End a Probate Proceeding

How to Close a Probate Administration

 
Scott Grossman

Scott Grossman

Attorney

The Grossman Law Firm, APC · 525 B Street, Suite 1500, San Diego, CA 92101 · (951) 523-8307
 

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