Assent Forms, Attorney, Beneficiaries, Common Estates, Distribution, Estates, Executor, Final Account, Final Distribution, Formal Probate Process, Informal Closing, Inventory of Assets, Partial Distribution, Probate Court, Schedule A, Schedule B, Schedule C, Simplified Probate Process
When closing an estate, some states that use a formal probate process, allow for an informal closing for common estates. These states simplified the probate process for estates that are straightforward; not complicated or contested. Fortunately, Massachusetts is one of those states. In Massachusetts, closing an estate using the simplified probate process involves the following tasks:
- Complete a final Inventory of Assets.
- Using the Inventory of Assets in the final accounting, complete the final accounting.
- Under cover of an assent form, send copies of the Inventory of Assets and the final accounting to each beneficiary.
- After receiving the signed assent forms from each beneficiary, the executor must sign the form called Account (MPC853). The signed Account form, with the original Inventory of Assets and final accounting attached, essentially closes the estate.
- Make the final distribution to the beneficiaries.
In Massachusetts, the simplified probate process allows straightforward, common estates to avoid the probate court when closing an estate. Instead, the approval of the Inventory of Assets and final accounting from all the beneficiaries informally closes the estate.