Legal Question in Wills and Trusts in Pennsylvania
Receipt and release form
I recieved a receipt and release form from my great-aunt's attorney to sign and get notarized. I just want to make sure that I understand this before I sign. It reads that I have acknowledge to have recieved the amount left to me. Goes on to say ''in consideration of said distribution'' that I waive the right to try to get the money later. His letter states that after I sign this, he will make the distribution of my bequest. Is this way this works? I am in NE and she lived in PA. It confuses me because it states that I recieved the money already.
Thanks for the help.
1 Answer from Attorneys
Re: Receipt and release form
It is customary for an Executor or Executor's attorney to request that each person receiving a distribution from an Estate sign such a document. The purpose is to protect the Executor from personal responsibility for making distributions without having paid debts, taxes, etc., due from the estate. The Receipt and Release should also contain or have attached a summary of how the estate is being distributed.
If you do not receive a check for the amount stated in the Receipt and Release after you sign and return it, you would not have received the "consideration", and therefore would not be bound by the Receipt and Release. You should watch for the check, and if you do not receive it, contact the attorney to find out what the problem is.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
