Q: The " No Administration Required Agreement" is meant for small estates. What info must be included as supporting docs?

A: When dealing with a "No Administration Required Agreement" for small estates, transparency is critical to ensure all heirs feel confident in the process. Supporting documentation typically includes a detailed inventory of the estate's assets. This may include bank statements, account balances, documentation of bond or investment values, and any other relevant records that help establish the total value of the estate. These details provide a clearer picture of the assets and help avoid misunderstandings.

An executor should share these figures with the heirs when requesting their signatures. Providing real dollar values or well-supported estimates tied to the assets allows everyone involved to understand what the estate is worth. Simply dividing percentages without attaching them to specific figures can leave room for miscommunication or mistrust. Transparency fosters fairness and ensures the heirs feel their interests are protected.

While the law may seem vague, it’s reasonable to expect an executor to act in good faith by disclosing accurate information. Sharing this documentation can prevent disputes later and build trust among the heirs. If the executor fails to provide such details, heirs have the right to request additional documentation or raise concerns before signing anything. Open communication helps avoid potential conflicts and ensures all parties are on the same page.