31 January 2020
Greetings
I act for an executor in a QLD estate.
The estate is ready to close off with the sale of the last asset being a retirement village villa which was on the market for over two years to effect the sale.
A copy of the will, assets and liabilities of the estate have been sent to both beneficiaries for approval.
One of the beneficiaries is disputing the sale price of the retirement villa and is not signing off on the distribution.
What steps do I need to take to close off the estate if the beneficiary does not agree to the distribution amounts or alternatively, what are my options to close off the estate.
Regards
Thank you for the question.
The executor makes their own informed decision in relation to the sale price. An independent valuation may satisfy the beneficiary, but it is not necessary, and the executor has a duty to distribute the estate.
Regards
Mentor
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