summary distribution

Definition of "summary distribution"
  1. A shortened process of estate administration that permits the allocation of an estate's assets after presenting an inventory indicating that the assets are only adequate to settle priority claims, such as those made by family members for their statutory shares
How to use "summary distribution" in a sentence
  1. After the death of her unmarried sister, June initiated summary distribution to divide the remaining assets among their immediate kin.
  2. Summary distribution is often used for small estates where it can simplify the process and reduce time and expense.
  3. The law allows for summary distribution in certain cases when the value of an estate falls below a specified amount.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z