Section 473.617

Title XXXI TRUSTS AND ESTATES OF DECEDENTS AND PERSONS UNDER DISABILITY

Chapter 473

Effective - 28 Aug 1985   

  473.617.  Decree of final distribution. — 1.  After the expiration of the time limit for the filing of claims, the executor or administrator, if the estate is in a condition to be closed, shall file his final settlement and at the same time petition the court to decree the final distribution of the estate.

  2.  In its decree of final distribution, the court shall designate the persons to whom distribution is to be made, and the proportions or parts of the estate, or the amounts, to which each is entitled under the will and the provisions of this law, including the provisions regarding advancements, election by the surviving spouse and minor children, lapse, renunciation and equitable retainer or setoff.  Every tract of real property so distributed shall be specifically described therein.  The decree shall find that the estate is in a condition to be closed; and if all claims have been paid, it shall so state; otherwise the decree shall state that all claims except those therein specified are paid and shall describe the claims for the payment of which a special fund is set aside, and the amount of the fund; if any contingent claims which have been duly allowed are still unpaid and have not become absolute, such claims shall be described in the decree, which shall state whether the distributees take subject to them.  If a fund is set aside for the payment of contingent claims, the decree shall provide for the distribution of such fund in the event that all or a part of it is not needed to satisfy the contingent claims.  If a decree of partial distribution has been previously made, the decree of final distribution shall expressly confirm it, or, for good cause, shall modify the decree and state specifically what modifications are made.

  3.  If a distributee dies before distribution to him of his share of the estate, his share may be distributed to the executor or administrator of his estate, if there is one; or if no administration on his estate is had and none is necessary according to the provisions of sections 473.090 to 473.107, the share of the distributee shall be distributed in accordance therewith.

  4.  The decree of final distribution is a conclusive determination of the persons who are the successors in interest to the estate of the decedent and of the extent and character of their interests therein, subject only to the right of appeal and the right to reopen the decree.  It operates as the final adjudication of the transfer of the right, title and interest of the decedent to the distributees therein designated; but no transfer before or after the decedent's death by an heir or devisee shall affect the decree, nor shall the decree affect any rights so acquired by grantees from the heirs or devisees.

  5.  Whenever the decree of final distribution includes real property, a certified copy thereof shall be recorded by the executor or administrator in every county of this state in which any real property distributed by the decree is situated.  The cost of recording the decree shall be charged to the estate.

  6.  Subject to the provisions of section 473.618, the personal representative shall make prompt distribution of the assets of the estate after entry of any order of distribution.

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(L. 1955 p. 385 § 217, A.L. 1985 S.B. 35, et al.)